The paper bag market is expected to reach US$7.3 billion between 2022 and 2030 with a CAGR of 4.1%
The global paper bag market is here to witness stability in the form of a CAGR of 4.1% between 2022 and 2030. It is expected to reach US$7.3 billion during this period. IMF research provides a comprehensive picture of the paper bag market. It includes data on the growth potential of the market along with growth drivers and restraints.
According to a new analysis from Future Market Insights (FMI), the paper bag market is set to grow exponentially, driven by the growing focus on eco-friendly and sustainable packaging options. Paper bags are lightweight, biodegradable and economical. They are also believed to be more environmentally friendly than their plastic counterparts due to their inherent qualities.
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The use of paper bags has steadily increased in sectors such as agriculture, construction and others. As a result, between 2022 and 2030, the paper bag market is expected to grow at a CAGR of 4.1%
Paper bags are commonly used in the packaging of food, beverages and other high-end products because they are non-reactive. Accordingly, the expansion of these industries will benefit the entire market.
Here are some of the important takeaways from the report:
- Paper bags with a pinched bottom and an open mouth will continue to be popular.
- Brown kraft will remain the most popular material for creating paper bags.
- Paper bags with a thickness of 2 ply are expected to be in high demand as a disposable packaging solution.
- Paper bags are expected to be in high demand in the retail trade.
- At APEJ, the demand for paper bags is expected to increase.
Paper bags are becoming increasingly popular as a greener alternative to single-use plastic bags. Sales of paper bags are expected to increase as governments around the world restrict the use of polythene bags and other plastic products. Some of the most powerful players in the market see it as a lucrative opportunity. “Some have even produced paper bags made from waste materials like discarded newspapers to stand out in a crowded market,” says an IMF analyst.
COVID-19 Impact Assessment
The expected growth in the paper bag business has been hampered by the advent of the novel coronavirus. During long periods of confinement, the market suffered from lack of raw materials, non-operational supply chains, closure of logistics facilities and unavailability of workers, among other reasons. Major market players, on the other hand, are working hard to improve their infrastructure to continue producing high-quality goods.
Who is the winner?
- Top Key Players Covered
- international paper company
- Novolex Holdings, Inc.
- Welton Bibby and Baron Limited
- El Dorado Packaging, Inc.
- Langston Companies, Inc.
- United Bags, Inc.
- Genpack Flexible
- Global-Pak, Inc.
- York Paper Company Limited
- Limited paper bags
- JohnPac inc.
- WestRock Company
In the coming years, competition in the paper bag market is expected to intensify. Therefore, companies are increasingly relying on recycled resources to produce high quality paper bags. Some companies actively push for product launches in order to gain a competitive advantage.
For example, RonPak has recently developed a full line of paper bags that are SQF certified and made with optical brightener with glue black light detection, such as to-go, pinch-bottom bags, packaging and more.
During the current year, JohnPac introduced its exclusive multi-wall paper bags in a variety of styles, including sewn open mouth, self-opening bag, pinch bottom open mouth, sewn valve, the stepped end of the glued valve and the like.
More Valuable Insights into the Paper Bag Market
In its latest report, Future Market Insights offers a detailed and unbiased analysis of the global paper bag market. It provides historical data for the period 2015-2021 and forecast statistics for the period 2022-2030. In order to understand the potential of the global market, its growth and scopes, the market is segmented on the basis of product type (Sewn Open Mouth, Pinch Bottom Open Mouth, Bonded Valve, Bonded Open Mouth, Flat Bottom), Material Type (brown kraft, white kraft), thickness (3 ply), end use (agriculture & related industries, building & construction, food processing, distribution, chemicals, others), in six major regions (North America, APEJ, Europe Western, Eastern Europe, Latin America, MEA and Japan).
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Future Market Insights (FMI) is a leading market intelligence and advisory firm. We provide syndicated research reports, custom research reports and consulting services of a personalized nature. FMI provides a complete packaged solution, which combines current market insights, statistical trivia, technological inputs, valuable growth insights, and an overhead view of the competitive framework and future market trends.
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