The global Craft Bags Industry, valued at US$1,567.3 million in 2022, has shown notable growth trends. According to a comprehensive market survey report, sales of craft bags experienced a steady compound annual growth rate (CAGR) of 3.4% from 2018 to 2022.
As of 2023, the market has further evolved, with an estimated overall value of US$1,636.3 million. Looking ahead, the market is poised for a promising trajectory, as per forecasts by FMI, with an anticipated CAGR of 4.4% from 2023 to 2033, projecting a market value of US$2,516.8 million. This growth surge can be primarily attributed to the escalating demand for eco-friendly packaging solutions.
Handmade craft bags appeal to customers looking for distinctive and customized packaging solutions because of their distinct patterns, textures, and possibilities. Also, end users are becoming aware of the potential of handmade bags to improve their brand recognition by exuding an air of authenticity and originality.
Craft bags, crafted from wood fiber, are renowned for their exceptional strength and natural aesthetic appeal. These bags are predominantly employed for packaging grocery items, with two main variants available in the market: white and brown craft bags. Craft bags are particularly well-suited for lightweight products, including fresh vegetables and fruits.
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Drivers:
- Increasing Demand for Eco-Friendly Packaging: The growing awareness of environmental sustainability is driving the demand for eco-friendly packaging solutions, including craft bags, as consumers and businesses seek more sustainable alternatives.
- Rising E-Commerce: The e-commerce industry’s expansion has led to a greater need for packaging solutions, including craft bags, to ship products. The surge in online shopping is boosting the Craft Bags Industry.
- Customization and Branding: Craft bags provide a canvas for customization and branding, allowing businesses to create unique and memorable packaging, thereby enhancing their brand identity and customer experience.
- Versatility: Craft bags are versatile and suitable for various products, from groceries to apparel. This versatility makes them an attractive packaging option for businesses in different industries.
Start-up Scenario
Emerging players in the craft bag market are actively engaged in forging strategic collaborations and making substantial investments in research and development endeavors. Their objective is to offer end users across various industry sectors more convenient and eco-friendly packaging solutions. Notable startups that are spearheading market advancements include SK Paper Bags, Sindia Pack Tech, Eco Enfold Ind. Pvt. Ltd., Vora Paper Bag Mfg.Co, ProAmpac, and American Paper Bag.
Vora Paper Bag Mfg.Co, a prominent player in the realm of paper bags, serves as a manufacturer, exporter, trader, and supplier of a diverse range of paper bags, including glassine paper bags and kraft paper bags. The company is steadfast in its commitment to promoting awareness about the advantages of eco-friendly paper products, reflecting its dedication to sustainable and environmentally conscious packaging solutions.
Challenges Faced by the Craft Bags Industry
While the craft bag market encompasses diverse end uses, there are several hurdles that potentially impede its growth. The presence of alternative packaging materials, such as paper and plastic, stands as a potential barrier to the overall market expansion. Additionally, the elevated cost associated with craft bag packaging serves as a significant constraint, posing challenges to the development of the craft bag market.
Key Players
- International papers
- Stanpac
- Kent Paper
- Biopac
- Genpak
- Bemis Company Incorporated
- Berry Plastics Corporation
- Novolex
- Linpac Packaging Limited
- Biopac
- APL Packaging
- KP Films
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Key Segments Profiled in the Craft Bags Industry Survey
By Product Type:
- Block Bottom
- Paper Carry
- Checkout
- Confectionery
- Other Product Types
By Application:
- Grocery
- Food
- Pharmaceuticals
- Customer Goods
- Stationary
- Confectionery
- Cosmetics
- Personal Use
- Home Care Products
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- The Middle East & Africa
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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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