FMI’s report offers an exhaustive overview of the paper bags market. It covers information on the market’s growth potential, growth drivers and restraints.
The global paper bags market is there to witness steadiness in the form of a CAGR off 4.1% between 2022 and 2030. It is all set to reach US$ 7.3 Bn during this period.
Some of the key takeaways from the report are highlighted below-
Sales of pinched bottom open mouth paper bags will continue to surge
Brown kraft will remain the preferred material for making paper bags
Paper bags with thickness <2 ply is anticipated to be highly sought-after as disposable packaging solution
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Retail industry is forecast to exhibit high demand for paper bags
Demand for paper bags is expected to skyrocket in APEJ
“Paper bags are becoming increasingly popular as better alternative for single-use plastic bags. With governments across various nations banning the use of polythene bags and other plastic items, sales of paper bags are expected to pick up.
Some of the leading market players are eyeing this as a lucrative opportunity. Some have even introduced paper bags recycled from wastes such as discarded newspaper to leave a mark amid competition,” says an FMI analyst.
COVID-19 Impact Analysis
The outbreak of novel coronavirus has put a dent on expected growth of the paper bags market. Besides disruptions across manufacturing units, the market had struggled with scarcity of raw materials, non-operational supply chain, shutting down of logistics units, unavailability of labors, among other factors during extended periods of lockdown. The key market players are however working hard to strengthen their infrastructure to continue manufacturing quality products.
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Who is Winning?
Competition in the paper bags market is likely to get fiercer in the coming years. Companies are therefore increasingly focusing on recycled materials for the production of quality paper bags. Some are even pushing product launches to gain competitive advantage.
For instance, RonPak has launched their extensive range of paper bag products such as carry out, pinch-bottom, wraps, and others with SQF certification and manufactured with optical brightener with black light detection of glue in the recent year.
JohnPac has launched their exclusive multi-wall paper bags with diverse range of styles such as sewn open mouth, self-opening sack, pinch bottom open mouth, sewn valve, pasted valve stepped end, and others in the current year.
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More Valuable Insights on Paper Bags Market
In its latest report, Future Market Insights offer a detailed and unbiased analysis of the global paper bags market. It provides historical data for the period of 2015-2021 and forecast statistics for the period of 2022-2030. In order to understand the global market potential, its growth and scopes,
the market is segmented on the basis of product type (sewn open mouth, pinched bottom open mouth, pasted valve, pasted open mouth, flat bottom), material type ( brown kraft, white kraft), thickness (<2 ply, 2 ply, 3 ply, >3 ply), end use ( agriculture & allied industries, building & cons, food & beverage, retail, chemicals, others), across six major regions (North America, APEJ, Western Europe, Eastern Europe, Latin America, MEA, and Japan).