Pune, May 24, 2021 (GLOBE NEWSWIRE) -- Paper Bags Packaging Market Analysis
The global paper bags packaging market is anticipated to grow at a 4.3% CAGR in the forecast period (2020- 2027), states the current Market Research Future (MRFR) report. Paper bags packaging, simply put, are a form of packaging converted out of flexible paper sheets for being used across industries. They are made from Kraft paper or sack paper and have extensive applications. These bags offer a sustainable option to customers to easily carry their purchase home. Paper bags are lightweight, durable, and customizable to meet products and also the specific demand of customers and come in different types such as bags with handles, flat paper bags, multiwall paper sacks, and others. They have wide applications in different industries such as chemicals, construction, retail, pharmaceutical, food and beverage, and others.
Enhancing Features that Bolster Market Growth
According to the MRFR report, there are numerous factors that are propelling the paper bags packaging market growth. Some of these entail increasing consumption of processed and packaged food, growing concerns about the safety of marine animals and the environment, consumers’ rising awareness about the threats posed by plastic waste disposal on the environment, paper bags being a cheaper and safer alternative to plastic shopping bags, rise in shopping malls, super markets/hypermarkets, modern lifestyle, rising preference for doorstep delivery, growth in the retail sector, various supportive government initiatives, and growing awareness of the benefits of paper bags such as easily recyclable, easy to use, easy to form, and cost effective. The additional factors adding market growth include its wide applications in different end use industries such as cosmetics, home care products, personal use, foods, confectionary, stationary, pharmaceuticals, and customer goods.
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On the contrary, fluctuating raw material costs may impede the global paper bags packaging market growth over the forecast period.
COVID-19 Analysis
The ongoing COVID-19 pandemic has hugely impacted key end users of paper bags like beverages, food, and retail, among others. Thus the paper bags packaging market is experiencing a fall in demand. Further, the manufacturing of products was impeded owing to lockdowns and social distancing leading to decline in the market growth. Besides, overall supply chain disruptions, difficulty to source raw material owing to restrictions on transport, and unavailability of labors have caused hindrances in the market growth.
Market Segmentation
The MRFR report highlights on an inclusive analysis of the paper bags packaging market based on application and product.
By product, the paper bags packaging market is segmented into multi-wall paper sacks, flat paper bag, and others. Of these, the multi-wall paper sacks segment will lead the market over the forecast period.
By application, the global paper bags packaging market is segmented into chemicals, construction, retail, pharmaceutical, food and beverage, and others. Of these, the retail segment will dominate the market over the forecast period.
Regional Takeaway
North America to Remain Forerunner in Paper Bags Packaging Market
Geographically, the global paper bags packaging market is bifurcated into Europe, North America, the Asia Pacific, and Rest of the World (RoW). Among these, North America will remain the forerunner in the market over the forecast period. Growing need for packaged food, growing preference for hygienic packaging, high growth in the pharmaceutical industry, growing concerns related to environmental damage caused by plastic wastage, and surging sales recorded through retail sectors, super markets, and hypermarkets are adding to the global paper bags packaging market growth in the region. The US holds the utmost market share.
Europe to Hold Second-Largest Share in Paper Bags Packaging Market
In Europe, the global paper bags packaging market is predicted to hold the second-largest share over the forecast period. Innovations and developments of the personal care, beauty products, and hygiene, rising focus on sustainability, increased demand for consumer-friendly products that are easily transportable and lightweight, and growing demand from the expanding food and beverage, and retail industries in Spain, Germany, and France are adding to the global paper bags packaging market growth in the region. Germany holds the utmost market share.
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APAC to Have Promising Growth in Paper Bags Packaging Market
In the APAC region, the global paper bags packaging market is predicted to have promising growth over the forecast period. Booming packaging industry, growing industrial development, increasing urban population in developing countries, rapid growth in industrial development and urbanization in China, easy available labors, abundance availability of raw materials, expanding retail and agricultural industries in India and China, the growing demand for sustainable and affordable packaging solutions, and rapid modernization are adding to the global paper bags packaging market growth in the region. Indonesia, Australia, India, Japan, and China hold the utmost market share.
In RoW, the global paper bags packaging market is predicted to have sound growth over the forecast period.
Key Players
The leading players profiled in the global paper bags packaging market report include Hood Packaging Corporation (Canada), Paper Sacks Factory (UAE), Novolex (U.S.), United Bags, Inc. (U.S.), Holmen Group (Sweden), Georgia-Pacific LLC. (U.S.), OJI Holding Corporation (Japan), WestRock Company (U.S.), DS Smith Plc. (U.K.), Ronpak (U.S.), B&H Bag Company (U.S.), Smurfit Kappa Group PLC. (Ireland), International Paper Company (US), Hotpack Packaging Industries LLC (Dubai), and National Paper Products Company (Saudi Arabia), among others.
The global paper bags packaging market is fragmented and also competitive with the presence of many domestic as well as international industry players. They have incorporated assorted strategies to stay at the forefront and also cater to the surging needs of the customers, including collaborations, partnerships, contracts, geographic expansions, new product launches, joint ventures, and more. Additionally, these players are also making heavy investments in research and development activities for strengthening their portfolios and also creating a hold in the market.
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Industry Updates
- April 2021- Huhtamaki has acquired leading manufacturer of folding carton packaging, wraps, and paper bags in China.
- April 2021- Woolworths has launched Australian made paper bags in WA, Tasmania, and Victoria.
- April 2021- Alvaro Moreno, a Spanish fashion retailer has joined hands with paper and packaging producer Mondi to change its shopping, gift, and online delivery bags from plastic to paper with an aim to reduce plastic consumption by about 90 tonnes per year.
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