The gusseted bags market is estimated to exceed US$ 23.2 Bn by 2022. Rapidly shifting consumer preference for packaging solutions from plastic and wooden containers to gusseted bags is facilitating the growth in the market.As per the latest report by Future Market Insights (FMI), the global gusseted bags market is expected to witness sluggish growth.
Key Highlights on the Global Gusseted Bags Market
The global gusseted bags market is segmented on the basis of thickness, application, material type, bag type, and region. Based on the bag type, the market is segmented into side gusseted and bottom gusseted. Among these, side gusseted bags are expected to witness the highest growth. Side gusseted bags are projected to bring in more than US$ 19,100 million revenue by the end of the forecast period.
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On the basis of material type, the market is further segmented into paper, polypropylene, polyethylene, nylon, biodegradable plastics, and metal foil. Polyethylene is expected to be widely used material. By the end of 2026, polyethylene is projected to exceed US$ 6,200 million revenue.
Country-wise Analysis
How is the U.S. Gusseted Bags Market Faring?
The U.S. is projected to register the fastest growth in North America gusseted bags market between 2022 and 2026, reveals Future Market Insight.
Gusseted bags are increasingly being used for safe delivery of packaged goods from the assembling site to consumers owing to their excellent protective attributes such as waterproof, ultraviolet (UV) protection, impact withstanding, and others. Hence, rapidly expanding e-commerce industry across the country is expected to create lucrative growth opportunities in the market.
Competitive Landscape
Top five companies operating in the global gusseted bags market account for nearly 12% of the overall revenue share in 2021, as per FMI.
Key players are focusing on expanding their offering of innovative product packaging solutions by adding novel products to gain competitive edge. Apart from this, some of the manufacturers are aiming at collaboration, merge, and acquisition with other players to strengthen its footprint in the market. For instance,
- In July 2021, Crunch Pak, a U.S.-based fruit and vegetable processing company announced adding gusseted stand-up bags to its list of packaging solutions for packaging its new products such as Sweet Apple Slices. The bags are made of materials that maintains the product freshness and are available in 24 ounce and 14 ounce.
In January 2019, TricorBraun, an American designer and distributor of rigid packaging announced acquiring one of the largest independent U.S. distributors of flexible packaging solutions, Pacific Bag, LLC. The acquisition has assisted the company to expand its products portfolio by adding gusseted bags, flat pouches, stand-up bags, and other.
Based on the region, the Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global gusseted bags market during 2022-2026. By the end of 2026, APEJ region is likely to exceed US$ 10,500 million revenue. Due to the increasing population and the increasing use of gusseted bags in packaging the region is witnessing significant growth.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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