Market Research Future (MRFR) has published a cooked research report on the “Global Carry Bag Market” that contains information from 2018 to 2032. The carry bag market is estimated to register a CAGR of 4.90% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global carry bag market— Rainbow Packaging Inc., Attwood’s Packaging Company., El Dorado Packaging, Inc., SPP Poly Pack Pvt. Ltd., Prada Holding B.V., Mondi Group Plc., Novolex Holdings, Inc., Coveris Holdings S.A., International Paper Company., Burberry Group plc., Smurfit Kappa Group PLC., Atlantic Poly Inc., Global-Pak, Inc., Welton Bibby and Baron Limited., Rutan Poly Industries, Inc., The Carry Bag Company.
Carry Bag Market Highlights
The global carry bag market is accounted to register a CAGR of 4.90% during the forecast period and is estimated to reach USD 33.5 billion by 2032.
The consumers and businesses are becoming more conscious of the environmental impact of single-use plastic bags and other non-biodegradable materials. The government regulation often encourages the use of reusable and environmentally friendly carry bags. The consumers are actively choosing reusable and sustainable carry bags over single-use plastic bags. Consumers are more likely to support and return to businesses that align with their values regarding environmental responsibility. The manufacturers are continuously developing new materials and technologies foe eco-friendly carry bags.
Segment Analysis
The global carry bag market has been segmented based type, product type and end user.
On the basis of type, the market is segmented into Single Use and Reusable. The reusable segment was attributed to holding the largest market share in 2022, because of the growing awareness and concern for environment.
Based on product type, the global carry bag market has been segmented into Plastic Polyethylene, High Density Polyethylene, Low Density Polyethylene, Paper, Jute, Cotton & Canvas, and Others. The plastic polyethylene segment was expected to hold the largest market share in 2022, due to its cost-effectiveness and easy availability.
Based on end user, the global carry bag market has been segmented into Industrial, Commercial and Others. The commercial segment was expected to hold the largest market share in 2022, as the commercial sector requires large number of carry bags to serve the customers.
Regional Analysis
The global carry bag market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe carry bag market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The carry bag market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World carry bag market comprises of Middle East, Africa, and Latin America.
The largest market share for carry bag was maintained by the North American regional sector. This region is home to a sizable consumer population, with a high level of disposable income, generating substantial demand for carry bags. The region has a well-developed and diverse retail industry, which focuses on environmental issues and sustainability. Many regions within North America, particularly in cities and states, have implemented regulations and bans on single-use plastic bags. Further, the region has a robust manufacturing and innovation ecosystem, leading to the development of new materials and designs for carry bags.
Moreover, the Europe market has been persistently growing over the forecast period. The growing environmental consciousness and the implementation of stringent environmental regulations are driving the need for carry bags. The market is expanding due to a significant desire for reusable and ecologically friendly carry bags, with consumers preferring to spend in long-lasting bags that may be reused several times, decreasing waste.
Additionally, the Asia-Pacific region home to a large and rapidly growing population, with increasing urbanization. As more people move to cities, there is a growing need for carry bags for shopping, groceries, and everyday use. Many countries in the Asia-Pacific region have experienced significant economic growth and rising incomes. This led to increased consumer spending, including the purchase of goods that often require carry bags.
Furthermore, the rest of the world's carry bag market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's rising population, economic development and expansion of retail sector and further, the growing awareness of environmental issues. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.
Key Findings of the Study
- The global carry bag market is expected to reach USD 33.5 billion by 2032, at a CAGR of 4.90% during the forecast period.
- The Asia Pacific region accounted for the fastest-growing global market due to the increased awareness and adoption of sustainable and eco-friendly packaging solutions and rising trend of convenience and on-the-go lifestyle.
- Based on type, the reusable segment was attributed to holding the largest market in 2022, with an approximate market share of 60%.
Rainbow Packaging Inc., Attwood’s Packaging Company., El Dorado Packaging, Inc., SPP Poly Pack Pvt. Ltd., Prada Holding B.V., Mondi Group Plc., Novolex Holdings, Inc., Coveris Holdings S.A., International Paper Company., Burberry Group plc., Smurfit Kappa Group PLC., Atlantic Poly Inc., Global-Pak, Inc., Welton Bibby and Baron Limited., Rutan Poly Industries, Inc., The Carry Bag Company.
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Companies Covered | 15 |
Pages | 128 |
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