Flexitanks Market Is Projected To Rise As Of Growing Need To Reduce The Weight Of Bulk Packaging To Increase The Cost-Effectiveness
Flexitanks Industry Overview The global flexitanks market size was valued at USD 717.4 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.0% from 2020 to 2028. Increasing global trade, coupled with the competitive benefits of flexitanks over their traditional substitutes, such as ISO containers, drums, barrels, and IBCs, is expected to drive the industry. Flexitanks have capacities ranging from twelve thousand liters to twenty-six thousand liters. These are commonly used for shipping an extensive range of liquid products, including wines, fruit juices, concentrates, mineral water, edible oils, tallow, malt extracts, lubricants, fertilizers, non-hazardous chemicals, and pharmaceuticals. The U.S. has the presence of the world’s largest pharmaceutical companies including Pfizer, Johnson & Johnson, Eli Lilly and Company, and Abbott Laboratories. These companies prefer single-trip flexitanks for the transportation of temper...