Paper Bags Market is Anticipated to Register at a Healthy CAGR of 4% During the Forecast Period 2019 – 2029
VALLEY COTTAGE, N.Y. – Worldwide sales of paper bags reached ~3 million tons in 2018, unveils the new research study by Future Market Insight (FMI). According to the report, the paper bags market is estimated to grow by ~4% YOY in 2019, primarily influenced by the recent reforms in the global paper packaging landscape.
According to the report, increasing focus on environment-friendly and cost-effective packaging formats are contributing to the build-up of paper bags market through 2029. Consumer preference for sustainable packaging which is easy to handle and has good strength, will also continue to provide a fillip to the sales of paper bags in 2019 and beyond.
Bags usually manufactured from kraft papers are playing a vital role in modern lifestyle. Additionally, consumer preference for paper bags is increasing, owing to its several benefits such as cost efficiency, easy usage, and eco-friendly packaging.
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According to FMI, increasing number of supermarkets and retail shops is expected to bolster the sales of paper bags across the world. In 2018, the pinched bottom open mouth paper bag witnessed maximum sales of ~900 thousand tons. The demand for these paper bags is estimated to shoot up by the end of 2029, as they are great for reducing infestation and act as good moisture barriers. The user friendly formats, and sizes are propelling exponential demand for paper bags among end users. The paper bags are further garnering significant traction as sustainable packaging solution that ensure biodegradability and ease of disposal.
FMI also came to the conclusion that the brown kraft paper bags are dominating the other paper bags, owing to less bleached content. The brown kraft paper bags are manufactured from natural paper and hence these paper bags helps to avoid contamination due to bleaching chemicals.
Preview Analysis of Paper Bags Market: Organized Retail Sector Emerging as Key Consumer: Global Industry Analysis and Opportunity Assessment, 2019 – 2029 – https://www.futuremarketinsights.com/reports/paper-bags-market
Market Players to Make Two-Fold Investments in Asia Pacific
According to the FMI study, growth opportunities for the paper bags market players are picking pace in Asia Pacific, owing to profound growth of the industrial ecosystems in region such as food & beverages, pharmaceutical, and others. The paper bags are considered as good food contact material. As paper bags are made up of natural material, no toxics are released when food articles are packed. The APEJ paper bags market offer lucrative opportunities for manufacturers, as it is home to some of the world’s fastest growing industries.
- For instance, the retail sector in India has been driven largely by the huge size of the population base, an affluent and growing middle class, rapid urbanization rate, and growing penetration of the internet and online retail services.
The region has witnessed increasing penetration of modern retail format, which is expected to play a significant role in boosting the APEJ paper bags market.
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Due to increasing consumption of paper bags in Asia Pacific region, key players from other region started investing in this market. For instance,
- In 2018, a Canada based paper manufacturer Catalyst Paper is investing in Indian paper bags and the kraft market with the partnership of OTCL Delhi.
FMI’s business intelligence also underlines groundbreaking insights into the competitive scenario of paper bags market along with highlights of the manufacturers’ differential strategies. Key players in the paper bags market will continue to draw upon the global sustainability drive by including ‘green’ offerings in their existing portfolios, which is likely to help them enhance customer confidence.
- For instance, in 2019, The Mondi Group Plc. did a partnership with REWE Group in Austria for introducing sustainable packaging solution for food packaging.
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