Carry Bag Market

• Growing awareness and the adoption of sustainable packaging solutions is driving the growth of market

Market CAGR for carry bags is being driven by the Increased awareness and adoption of sustainable and eco-friendly packaging solutions. Growing concerns about plastic pollution and environmental sustainability have led consumers and businesses to prioritize eco-friendly practices. Many consumers now actively seek products and packaging solutions that align with their environmental values. Governments and regulatory bodies worldwide are imposing stricter regulations on single-use plastics and encouraging the use of environmentally friendly packaging materials.

Consumer preferences are shifting toward reusable and sustainable carry bags made from materials like cloth, jute, paper or biodegradable plastics. Shoppers appreciate retailers that offer such options. Businesses recognize the importance of their brand image and reputation. Using sustainable carry bags not only aligns with corporate social responsibility but also enhances a brand's image as environmentally conscious and socially responsible. Companies that offer sustainable carry bags can gain a competitive edge in the market. Sustainability practices can attract new customers, retain existing ones, and differentiate a brand from its competitors.

While sustainable materials for carry bags may have higher upfront costs, they often provide long-term cost savings. Offering reusable and eco-friendly carry bags can foster customer loyalty. Shoppers who appreciate a retailer's commitment to sustainability are more likely to return for future purchases.

Environmental organizations and campaigns raise awareness about the detrimental impact of single-use plastics. Such efforts influence consumer behavior and encourage the use of reusable bags. Many companies have set sustainability targets and initiatives as part of their corporate responsibility strategies. Adopting eco-friendly carry bags aligns with these goals and demonstrates a commitment to sustainability. The advancements in materials science have led to the development of innovative, sustainable materials for carry bags, including recycled fibers, organics and biodegradable plastics. Retailers often educate customers about the benefits of using reusable carry bags and may offer incentives, like discounts, to encourage their use.

International agreements and initiatives like the United Nations Sustainable Development Goals emphasize the importance of reducing plastic waste and promoting sustainability. Thus driving the Carry Bag market revenue.

The Global Carry Bag Market Industry is experiencing substantial growth due to the expansion of e-commerce. As online shopping continues to gain traction, the demand for carry bags for packaging and delivery purposes is increasing. Retailers are seeking efficient and attractive packaging solutions to enhance customer experience, which often includes branded carry bags. The convenience of online shopping has led to a surge in demand for carry bags, with projections indicating the market could reach 42.6 USD Billion by 2035. This growth is likely to be supported by the increasing number of online retailers and the need for effective packaging solutions that align with consumer preferences.

Consumer awareness regarding the environmental impact of plastic waste is a significant driver in the Global Carry Bag Market Industry. As individuals become more informed about the consequences of plastic pollution, there is a noticeable shift towards sustainable carry bag options. This heightened awareness is prompting consumers to seek out products that align with their values, such as reusable and biodegradable bags. Retailers are responding to this demand by offering a wider variety of eco-friendly carry bags. Consequently, this trend is expected to contribute to the market's growth, as consumers increasingly prioritize sustainability in their purchasing decisions.

Regulatory support plays a crucial role in shaping the Global Carry Bag Market Industry. Governments across various regions are implementing policies aimed at reducing plastic usage and promoting sustainable alternatives. For instance, many countries are introducing bans on single-use plastic bags, which is driving the demand for reusable and biodegradable carry bags. This regulatory environment encourages manufacturers to innovate and develop eco-friendly products, thereby expanding the market. As a result, the industry is likely to witness a compound annual growth rate of 4.9% from 2025 to 2035, reflecting the positive impact of regulatory measures on market dynamics.

The Global Carry Bag Market Industry is increasingly influenced by sustainability trends, as consumers become more environmentally conscious. The demand for eco-friendly materials, such as biodegradable and recyclable options, is on the rise. This shift is evident in the growing popularity of reusable bags, which are perceived as a sustainable alternative to single-use plastic bags. In 2024, the market is projected to reach 25.2 USD Billion, reflecting a significant consumer preference for sustainable products. Governments worldwide are also implementing regulations to reduce plastic waste, further driving the adoption of sustainable carry bags. This trend indicates a long-term shift in consumer behavior towards environmentally responsible choices.

Technological advancements are reshaping the Global Carry Bag Market Industry by enabling the production of innovative materials and designs. New manufacturing techniques allow for the creation of lightweight, durable, and sustainable carry bags that meet consumer demands. For example, advancements in biodegradable materials are leading to the development of bags that decompose more efficiently, appealing to environmentally conscious consumers. These innovations not only enhance product functionality but also align with the growing trend towards sustainability. As the market evolves, it is anticipated that these technological developments will play a pivotal role in driving growth and expanding consumer choices.

By region, the study gives market insights into the North America, Europe, Asia-Pacific and the Rest of the World. The North American Carry Bag market area dominates the market as the region is a large and affluent region with a high demand for carry bags driven by a number of factors, including a growing population, rising disposable incomes and a busy lifestyle. The presence of a large and well-developed retail sector, favorable government regulations and the presence of major players boost the market growth in this region.

Further, the prime countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, Japan, China, India, Australia, South Korea, and Brazil.

Figure 2: CARRY BAG MARKET SHARE BY REGION 2022 (USD Billion)

Source: The Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe's Carry Bag market accounts for the second-largest market share due to the rising disposable incomes and government regulations to promote the use of sustainable carry bags. Further, the German Carry Bag market held the largest market share, and the UK Carry Bag market was the fastest growing market in European region.

The Asia-Pacific Carry Bag Market is expected to grow at a rapid CAGR from 2023 to 2032. This is because of the growth in the retail sector of the region and the implementation of regulations to promote eco-friendly carry bags. Moreover, China’s Carry Bag market held the largest market share, and the Indian Carry Bag market was the fastest-growing market in Asia-Pacific region.

Leading market players are investing hugely in research and development in order to spread their product lines, which will help the Carry Bag market grow even more. Market players are also undertaking a variety of strategic activities to spread their footprint, with important market developments including mergers and acquisitions, new product launches, contractual agreements, higher investments, and collaboration with other organizations. To spread and survive in a more competitive and rising market climate, the Carry Bag industry must offer cost-effective items.

Manufacturing locally to reduce the operational costs is one of the key business tactics used by the manufacturers in the Carry Bag industry to benefit clients and grow the market sector. In recent years, the Carry Bag industry has offered some of the most significant advantages to the commercial industry. Major players in the Carry Bag market, including 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., -Pak, Inc., Welton Bibby and Baron Limited., Rutan Poly Industries, Inc., The Carry Bag Company, and others, are attempting to increase the market demand by investing in the research and development operations.

Blue Point Capital Partners is private equity firm based in Cleveland, Ohio, USA. The firm was founded in 1990 and had a history of investing in various industries, including automotive, aerospace, healthcare and more. The company seems to make control investments in companies, meaning they acquire a significant ownership stake and often take an active role in the management and strategy of their portfolio companies.

In December 2022, Blue Point Capital Partners and its portfolio company, Weaver Leather, acquired Ohio Travel Bag, a distributor of specialty hardware, fittings and supplies used in a various industries and end markets, including leather goods, pet, equine, handbags, trunks and crafts.

Pactive Evergreen Inc. is a leading manufacturer and distributor of packaging and food service products. The company is known for providing a wide range of solutions for food packaging, including containers, trays, cups and other disposable packaging products. The product portfolio includes a variety of packaging solutions for food and beverage companies, restaurants, supermarkets and other food service providers and offers products made from paper, plastic and aluminum. The company has been emphasizing sustainability and environmentally friendly packaging solutions. In October 2022, Pactive Evergreen acquired Precision Products Group, a manufacturer of compostable food service and packaging products.

Precision Products Group's product portfolio includes compostable carryout bags, food containers and utensils.