Anticipated to display consistent growth, the global bags market is projected to experience a yearly expansion of 3.0% year-on-year, reaching a valuation of US$ 49.2 billion by the year 2032.

The bags market in the USA is on an upward trajectory, poised for significant growth during the forecast period. Several factors contribute to this optimistic outlook. Firstly, the surging adoption of advanced technology and innovation in the region has redefined the way bags are designed and used, catering to the evolving needs of consumers. Additionally, the presence of established, industry-leading players further fuels growth prospects by fostering healthy competition and driving product advancements.

According to analysis by FMI (Future Market Insights), the USA market is expected to achieve a substantial valuation of US$ 5.7 billion in 2022. This figure is especially noteworthy when considering that it represents nearly 20% of the global bags market. As such, the USA stands as a pivotal player in the worldwide bags industry, reflecting a market dynamic that is set to continue its expansion, driven by innovation, technological integration, and a diverse range of consumer preferences.

Various industries, including food and beverage, e-commerce, and retail, have been registering high growth in India on account of the increasing international commerce and the implementation of favorable measures by the Indian government.

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Key Takeaways from the Global Bags Market:

  • Sales of bags are expected to reach US$ 49.2 billion by the end of 2032.
  • The U.S. will continue to lead bags sales in North America, with the U.S. bags market projected to be worth US$ 5.7 billion in 2022.
  • Plastic bags will maintain dominance, accounting for 70% of sales in the market.
  • The retail and consumer segment will be the leading end-user, exhibiting growth at a CAGR of 4.3% during the forecast period.
  • The India bags market is expected to grow at a CAGR of 5.8% during the forecast period

“After the COVID-19 outbreak, the global bag market is projected to recover and show considerable growth as sales resume in various industries. To capitalize on existing opportunities, bags manufacturers are expected to use non-biodegradable polymers, as their material of choice” says a FMI analyst.

Retail & Consumer Sector is the Key Driver of Global Bags Market

The retail & consumer sector is expected to account for maximum bags sales over the course of the assessment period. The bag market is rising at a breakneck pace, thanks to burgeoning retail businesses and a growing preference among customers for environmentally friendly packaging.

Meanwhile, plastic carry bags are preferred by retailers because of their user-friendly, cost-effective, and easy-to-store features. Biodegradable carry bags are the current trend in the worldwide retail carry bag market.

Competitive Landscape

Market actors have reshaped the product in such a way that consumers are drawn to acquire bags. The key players in the plastic bags industry are concentrating on providing lighter-weight and more environmentally friendly bags.

Some of the market’s major companies are

  • Berry Global,
  • Mondi Group,
  • Ampac Holdings, LLC,
  • International Plastics Inc.,
  • BioBag International AS,
  • Smurfit Kappa,
  • WestRock Company,
  • Billerudkorsnas,
  • Huhtamaki Oyj.,
  • Fischer Bag Company.

Market Drivers-

  1. Consumer Lifestyle Changes: Shifts in consumer preferences and lifestyles, including an increased focus on sustainability, fashion trends, and convenience, have a significant impact on the bags market. This includes the growing demand for eco-friendly, reusable, and stylish bags.
  2. E-commerce Boom: The rapid growth of e-commerce and online shopping has led to a surge in demand for packaging and shipping bags. As more consumers turn to online shopping, the need for durable, secure, and efficient packaging solutions has risen.
  3. Innovation in Materials: Advancements in materials and manufacturing technologies have allowed for the development of bags with enhanced durability, functionality, and aesthetics. Innovative materials, such as lightweight yet robust synthetics, are gaining traction.
  4. Government Regulations: Environmental regulations and bans on single-use plastic bags in various regions are driving the adoption of eco-friendly and biodegradable bags. This regulatory environment is pushing companies to explore sustainable alternatives.
  5. Customization and Personalization: Consumers increasingly seek bags that reflect their individuality. Customization and personalization options, such as monogramming or unique designs, are driving consumer interest and brand loyalty.

Some of the key developments:

  • Coveris Holdings has announced the acquisition of Initial Packaging Ltd, which will be used to develop and extend bag packaging for security, logistics, and diagnostic applications.
  • By 2025, Berry Global hopes to have developed 100 percent recyclable lightweight plastic bags. In order to reduce their carbon impact, they are also working to optimize their manufacturing methods.
  • Mondi Group Inc. has announced ambitions to expand its paper-based MailerBAG line in order to replace plastic packaging in e-commerce with a recyclable solution created from socially sourced renewable materials.
  • Coveris Holdings has announced the acquisition of Norwich-based flexible packaging production and trading company Four 04 Packaging. The company hopes to specialize in biodegradable bags for fresh food and vegetables as a result of this acquisition.

Key Benefits of the Bags Market Report:

  • Porter’s five forces analysis provides valuable insights into the potential of buyers, suppliers, and the competitive landscape, aiding in strategy formulation.
  • Revenue contributions of major countries in each region are mapped, giving a comprehensive view of the global/regional market.
  • The report presents current trends and future projections from 2022 to 2032, helping identify opportunities and potential investment prospects. • Profiles of key players and their strategic developments are included, offering a deeper understanding of the market’s competitive landscape.
  • Detailed impact analyses of key drivers, restraints, and opportunities are provided to assist in making informed decisions.

Regional Analysis:

USA Bags Market:

  • The USA bags market is expected to witness considerable growth during the forecast period.
  • The presence of leading market players and the adoption of advanced technology are creating ample growth opportunities in the region.
  • The USA market is estimated to reach a valuation of US$ 5.7 billion in 2022, representing nearly 20% of the global bags market.

India Bags Market:

  • The India bags market is being driven by the expansion of diverse sectors such as food and beverage, e-commerce, and retail.
  • Favorable government measures like Make in India and industry-specific incentives are supporting manufacturing enterprises, leading to increased demand for plastic bags for storage and transportation purposes.
  • According to FMI, India is predicted to experience a growth rate of 1.7x during the forecast period.

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Global Bags Market by Category
By Material Type

  • Plastic
  • Paper
  • Textile

By Product Type

  • T-Shirt Bags
  • Gusseted Bags
  • Lay Flat Bags
  • Garbage/Refuse/Trash Bags
  • Woven Bags
  • Other Bags

By End User

  • Retail & Consumer
    • Grocery Products
    • Food & Beverage
    • Clothing & Apparel
    • Others
  • Institutional Services
    • Hospitality
    • Healthcare
    • Others
  • Industrial End Use
  • Household

By Region

  • North America
  • Latin America
  • Europe
  • Middle East and Africa
  • East Asia
  • South Asia
  • Oceania

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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