Global Commercial Paper Bags Market is anticipated to exceed US$ 11.2 Billion in 2032
The size of the global market for commercial paper bags is anticipated to reach US$ 11.2 billion in 2032 and develop at a CAGR of 7.5% from 2022 to 2032. In 2022, its estimated worth will be US$ 5.9 billion. Commercial paper bag sales are expected to increase in the next years due to rising water pollution and environmental worries related to the use of plastics globally. Due to their low cost, commercial paper bags are mostly used in the retail sector. They are lightweight and also offer a greater tensile strength.
These are simple to print and recyclable for further use. These can protect the goods enclosed and are produced from a range of kraft papers.
- Some of the leading companies operating in the commercial paper bags market include
- El Dorado Packaging, Inc.,
- Novolex Holdings, Inc.,
- Smurfit Kappa Group Plc.,
- Langston Companies, Inc.,
- International Paper Company,
- Essentra Plc., United Bags, Inc., and
- Mondi Group plc.
Majority of the leading companies in the market are striving to gain a competitive edge by launching new products. A few other key players are focusing on mergers and acquisitions, joint ventures, and collaborations with local companies to provide better service to their customers.
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Also, switching to?paper-based packaging?has led to better recycling rate. Most consumers are adopting paper-based sacks over plastic ones as are a sustainable alternative of their counterparts. Additionally, commercial paper bags are environment-friendly and can be 100% recycled. The stringent regulations imposed by various regulatory bodies against the usage of plastic bags is also expected to drive the growth of the global commercial paper bags market during the period of forecast.
Manufacturers are focused on expanding their portfolios to better meet the escalating demand from end users. Moreover, it is observed that manufacturers operating in the global commercial paper bags market are focusing on innovating products by differentiating their features from other market players. Companies are designing commercial paper bags which offer some added advantages such as?temperature-controlled packaging?paper bags, to the consumers. For instance,
- Mondi Group entered into a partnership with iFoodbag AB, a Swedish start-up company, to develop a temperature controlled paper packaging product. Introduction of the temperature-controlled paper bag opens up new horizons in the online shopping platform.
Which are Some Prominent Drivers Spearheading Commercial Paper Bags Market Growth
The rapid expansion of the retail sector is a major factor that is likely to propel the demand for commercial paper bags in the evaluation period. These paper bags are reusable, easy to carry, and lightweight and thus are set to gain traction in future years.
The increasing usage of these bags in the building and construction industry for heavy-duty applications is another significant factor that is projected to augur well for the market. The rising number of infrastructure development and retail estate projects in both developed and developing countries would also contribute to this growth in the market.
What are the Challenges Faced by the Commercial Paper Bags Industry
Paper bags are not waterproof and may not be suitable for the rainy season. These are more expensive, as compared to plastic bags. Thus, not many retailers based in developing countries can afford these for regular usage. These take more storage space and are heavier than plastic bags. Driven by the aforementioned factors, the sales of commercial paper bags may decline in future.
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Commercial Paper Bags Market: Regional Outlook
Geographically, the global commercial paper bags market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excl. Japan (APEJ), Middle East and Africa (MEA) and Japan. The countries of MEA are expected to represent growth opportunities for commercial paper bags market owing to its applications in building & construction sector. In the APEJ region, the retail sector is booming and is expected to propel the demand for the commercial paper bags in the region. Changing consumer spending pattern has resulted into high expenditure on packaged goods, which will buttress the demand for commercial paper bags in the region.
Key Segments Profiled in the Commercial Paper Bags Industry Survey
By Product Type:
- Sewn Open Mouth Bags
- Pinched Bottom Open Bags
- Pasted Valve Bags
- Pasted Open Mouth Bags
- Flat Bottom Bags
By Material Type:
- Brown Kraft
- White Kraft
- 1 ply
- 2 ply
- 3 ply
- >3 ply
By End Use:
- Agricultural & Allied Industries
- Building & Construction
- Food & Beverage
- Chemical Industry
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Material Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
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Published Wed, 28 Dec 2022 07:25:36 -0600