The global paper bags packaging market is expected to attain a valuation of USD USD 4990.05 million by 2030: MRFR

Pune, India, April 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Paper Bags Packaging Market.

Paper Bags Packaging Overview

Paper Bags Packaging market Size was valued at USD 3468.9 million in 2021. The Paper Bags Packaging market industry is projected to grow from USD 3630.2 million in 2022 to USD 4990.05 million by 2030, exhibiting a compound annual growth rate (CAGR) of 4.65% during the forecast period (2022 – 2030). In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the coming years.

The key factors driving the growth of the global paper bags packaging market are growing food & beverage industry, growth of retail sector, and cost-effective packaging solution. However, fluctuating supply and raw material prices are expected to restrict the growth of the market during the forecast period. Furthermore, investments in recycled paper use is anticipated to create growth opportunities for the market.

Segmental Analysis

The global paper bags packaging market has been segmented based on the material type, product type, thickness, end-use, and region.

Based on the material type, the global paper bags packaging market is bifurcated into brown kraft and white kraft. The brown kraft segment accounted for larger market share and is expected to dominate during the forecast period. This is mainly attributed to the growing adoption of these bags from enterprises, globally and global prevalence of against the use of plastic as bags. However, the white kraft material type segment is expected to register a CAGR of 4.83%.

Based on the product type, the global paper bags packaging market has been segmented into multiwall bags and flat bottom bags. The multiwall bags segment accounted for the largest market share of 55.4% in 2018, it is expected to register a higher CAGR of 4.79% during the forecast period. This is attributed to the unique benefits cost-effectiveness, eco-friendliness, easy storage and customizability, durability, and high tear-resistance.

Based on thickness, the global paper bags packaging market is divided into 3 ply, 2 ply, more than 3 ply, and less than 2 ply segments. The 3 ply and 2 ply segment combinedly contributed over 57.6% of total market in 2018, whereas more than 3 ply segment is expected to register a highest CAGR during the forecast period.

By end-use, the global market for paper bags packaging comprises of food & beverage, retail, pharmaceutical, and others. Among these, food & beverage segment stood on the top contributing with the market share of 34.7% in 2018 with a highest CAGR of 5.34% during 2019 to 2025.

On the basis of region, the paper bags packaging market is divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Among these, the Asia-Pacific region reported the larger market share of over 32.0% in 2018. The demand for paper bags in the Asia-Pacific region is attributed to the increasing exports from countries such as China, India, Australia, New Zealand, and Japan. Additionally, the growing retail industry in these countries is further supporting the growth of the market in this region as it is a flourishing market for manufacturers offering technologically advanced packaging solutions for the retail and food & beverages industry.

Competitive Analysis

The prominent players operating in the paper bags packaging market include International Paper, WestRock Company, Smurfit Kappa, Mondi, Huhtamaki Group, Oji Holdings Corporation, Welton Bibby & Baron Ltd, NOVOLEX, B&H Bag Company, Ecobags NZ, Primepac Industrial Limited, Bee Dee Bags, Langston Companies, Inc., and American Paper Bag.

Regional Analysis

The regional analysis for the global paper bags packaging has been conducted for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

Asia-Pacific includes China, India, Australia, New Zealand, and Japan, which are the leading exporters of various types of commercial goods to various parts of the world. The FDI in retail has widened the scope of packaging, which attracts foreign players to set-up base in the region. The growth of the paper bags packaging market in the region is backed by the increasing demand for packaged food and beverage items in countries such as China and India due to the increasing per capita disposable income. Thus, the market for paper bags packaging in Asia-Pacific is expected to keep growing at a significant rate during the forecast period.

The North American region includes major markets such as the US, Canada, and Mexico. North America is one of the largest regions in the global food & beverages and retailing market owing to the high penetration rate of multiple brands, increasing demand for packed food and ready-to-eat items, growth in the working women population, and high purchasing power. This is expected to fuel the growth of the market in the region during the forecast period.

Meanwhile, the European market for paper bags packaging stood third globally. The major countries contributing to this market growth comprise of the Germany, UK, France, Italy, Spain, and the rest of Europe. The region is the home to several luxurious cosmetic brands, which supports the growth of the market for paper bags packaging. Paper bag packaging products are mainly used for food & beverage products. Furthermore, the growing demand for sustainable packaging products in the food & beverage industry is leading to the escalation in demand for eco-friendly storage and paper bags packaging solutions.Read More Article Details - Paper Bags Packaging market