The multiwall bags market is poised for substantial growth, according to recent analysis projecting an average Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period. By 2023, the market is anticipated to achieve a revenue of US$ 15.57 billion, with expectations to surpass US$ 24.42 billion by 2033.
Future Market Insights (FMI) analysis indicates a dominant preference for plastic multiwall bags, expected to hold a significant share of approximately 73.9% in the global multiwall bags market. This underscores the widespread adoption of plastic material in multiwall bag manufacturing processes.
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The surge in demand for lightweight, cost-effective, and convenient packaging solutions is expected to propel the growth of the plastic bags segment significantly during the forecast period. Industries such as food & grains, pharmaceuticals, and retail are driving this demand, with the worldwide plastic multiwall bags market projected to expand at a CAGR of 4.6%.
The Asia Pacific region is anticipated to witness high demand for multiwall bags during the projection period. Factors such as a growing working population, strengthening global economy, and increasing local demand for ready-to-eat & convenience food products contribute to this trend.
Flexible packaging solutions like multiwall bags have seen heightened demand from various industries including food and beverage, agriculture, and healthcare, driven by the need to preserve hygiene and safeguard products from damage.
The COVID-19 crisis has further accentuated the importance of packaged goods, leading to a surge in the use of paper and plastic bags in the food and beverage industry. Additionally, companies worldwide are increasingly adopting multiwall bags due to their sustainability, with governments subsidizing sustainable packaging businesses including the multiwall paper bags industry.
In light of the growing prominence of e-commerce, multiwall bag producers are migrating towards online platforms to capitalize on the expanding market opportunities. The rise in online shopping during the COVID-19 pandemic has boosted demand for fast-moving consumer goods (FMCG), electronics, and food and beverages, further driving the multiwall bags market.
Key Takeaways:
- The United States market leads the multiwall bags market in terms of market share in North America. The United States region held a market share of 18.3% in 2023. The growth in this region is attributed to the expanding outlets, attractive creative packaging, and sustainable packaging. North America region held a significant market share of 27.1% in 2022.
- Germany market is another successful market in the Europe region. The market holds a market share of 4.3% in 2022. The growth is attributed to the bans on plastic packaging and growing awareness around carbon emissions. Europe region held a market share of 24.7% in 2022.
- India’s multiwall bags market booms at a CAGR of 6.0% during the forecast period. The market’s growth is attributed to proliferating packaged food sales along with the focus on promoting paper bags.
- China’s market also thrives at a CAGR of 5.6% between 2023 and 2033. The growth is caused by the high penetration of innovative ideas.
- Based on material type, the plastic segment held the leading market share of 70.6% in 2022.
- Based on end-use type, the food segment performs well as it held a leading market share of 38.3% in 2022.
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Growth Opportunities in Multiwall Bags Industry:
- Sustainable Packaging Demand: Growing emphasis on sustainable and eco-friendly packaging solutions presents a significant opportunity for multiwall bags, as they are often made from recyclable materials.
- Food and Agriculture Sector: Increased demand for efficient and durable packaging in the food and agriculture industry, driven by population growth and changing consumer preferences, creates a substantial market opportunity for multiwall bags.
- Emerging Markets: Expansion into emerging markets, especially in Asia and Latin America, offers potential growth due to increased industrialization, rising disposable incomes, and a growing need for reliable packaging solutions.
- Innovative Materials: Research and development in materials technology, including the use of advanced polymers and coatings, can enhance the performance and versatility of multiwall bags, providing a competitive edge and new growth avenues.
- E-commerce Packaging Solutions: The rise of e-commerce and online retailing creates opportunities for multiwall bags in the packaging of various products, particularly in sectors like pet food, chemicals, and bulk goods.
Industry Trends:
- Digital Printing Technology: Adoption of digital printing on multiwall bags is increasing, allowing for customized and vibrant designs, as well as variable data printing for branding and product information.
- Focus on Lightweighting: Industry trends show a shift towards lightweight yet strong materials for multiwall bags, aiming to reduce environmental impact, transportation costs, and overall packaging expenses.
- Barrier Coatings: The incorporation of advanced barrier coatings, such as those providing moisture resistance and extended shelf life, is a prevailing trend to enhance the functionality and protective qualities of multiwall bags.
- Regulatory Compliance: Stringent regulations regarding packaging materials and waste management are influencing the industry, leading to innovations in eco-friendly, biodegradable, and compliant multiwall bag solutions.
- Evolving Design for Convenience: The market is witnessing a trend towards user-friendly and convenient designs, including features like easy-open seals, resealable closures, and ergonomic handles, catering to consumer preferences for hassle-free handling and storage.
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Global Multiwall Bags Market By Category
By Material:
- Plastic
- Paper
By Capacity:
- Up to 5Kg
- 6Kg to 10Kg
- 11Kg to 25Kg
- Above 25Kg
By End-use:
- Food
- Chemical & Fertilizers
- Building & Construction
- Automotive
- Other End Use
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
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