As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global Industrial Plastic Bags market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales of Industrial Plastic Bags in the coming 10 years.
In 2022, it is anticipated that the industrial plastic bag market will produce $9.41 billion in revenue. The market is projected to generate US$ 20.59 billion in sales by 2032, growing at a CAGR of 12.1%. The report conducts in-depth analysis into factors causing the change in consumer behavior and purchasing patterns. It also provides refined sales projections to assist market players in identifying remunerative segments.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Industrial Plastic Bags
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Industrial Plastic Bags market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Industrial Plastic Bags Market Takeaways and Projections
- The U.S. is expected to lead the North America Industrial Plastic Bags market, projecting the fastest growth in the region between 2022 and 2032
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2032.
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Report Benefits & Key Questions Answered
- Industrial Plastic Bags Historical Market Analysis: The detailed survey by FMI, examines key factors in the Industrial Plastic Bags market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Industrial Plastic Bags market for the forecast period 2022-2032.
- Industrial Plastic Bags Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Industrial Plastic Bags for the assessment period. As per the study, the demand for Industrial Plastic Bags will grow at a robust CAGR between 2022 and 2032.
- Industrial Plastic Bags Market Trend Analysis: The latest study by FMI on the Industrial Plastic Bags market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Industrial Plastic Bags market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Industrial plastic bags: Market segmentation
Industrial plastic bags is segmented on the basis of material type, product type and end use.
On the basis of material type, industrial plastic bags can be segmented as
- Bio-degradable
- PHA
- PLA
- Starch
- Non-biodegradable
- PE
- PP
- PS
- Others
On the basis of product type, industrial plastic bags is segmented as
- Gusseted bags
- Sewn open mouth bags
- Others
On the basis of end use, industrial plastic bags is segmented as
- Food and beverages
- Pharmaceuticals
- Electricals and electronics
- Agriculture
- Others
About Future Market Insights, Inc
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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