Market players to attain a competitive advantage are focusing towards sustainable solutions and new product launches.
DUBAI, UAE / ACCESSWIRE / December 2, 2020 / The global paper bags market will be reflecting a CAGR of 4.1% during, 2020-2030. The market is primarily driven by the growing focus on sustainable and eco-friendly packaging solutions. However, the end users of paper bags such as beverages, food, retail, and others have been hugely affected by the COVID-19 outbreak hindering market growth. However, the market is expected to recover by 2021 end or 2022beginning.
'Growing popularity of paper bags as better substitute for single-use plastic bags along with governments across several nations forbidding the usage of polythene bags and other plastic items, will complement sales of paper bags in the forthcoming years. Considering this, several market players have launched paper bags recycled from wastes to leave a mark amid competition,' says an FMI analyst.
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Paper Bags Market - Key Highlights
- APEJ, at present, is the leading region in the global market due to abundance accessibility of raw materials as well as easily availability of labors.
- Pinched bottom open mouth paper bags are gaining popularity in the global market.
- Brown kraft paper bags will be the highly preferred across the globe for producing paper bags.
- < 2 ply thickness paper bags will be majorly preferred due to its affordable and lightweight attributes along with its diverse applications in various sectors.
Paper Bags Market - Drivers
- Suring adoption of sustainable packaging solutions amid several industries is bolstering market growth.
- Growing preference for eco-friendly packaging rather than polythene bags is boosting sales of paper bags market.
- Production at regional level that saves the export cost makes paper bags production cost-efficient, thus making them extremely affordable for consumers.
- Suring demand from retail sector is catalyzing the market growth.
- Growing concern for safety of marine animals is encouraging people to opt for paper bags.
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Paper Bags Market - Restraints
- Chemicals utilized in the production of paper bags can impact the paper bags sales.
- Difficulties in sourcing raw materials and unavailability of labors owing to COVID-19 inflicted transport restrictions and overall supply chain disruptions hinders the market growth.
Impact of COVID-19 on the Market
The COVID-19 outbreak has severely affected on anticipated expansion of the market. In spite of disruptions all over the production units, the market had clambered with raw materials scarcity, closure of logistics units, non-operational supply chain, lack of labors, amid other aspects during extended lockdown periods. Majority of the companies are nevertheless working hard to fortify their infrastructure to endure production of quality products.
The global market is anticipated to witness fiercer competition in the forthcoming years. Players are thus progressively engaged in reprocessed materials for the manufacturing of quality paper bags. A few of the companies are even engaged in new product launches to attain a competitive advantage. Key companies functioning in the global market include International Paper Company, Smurfit Kappa Group Plc, Ronpak, Novolex Holdings, Inc., El Dorado Packaging, Inc., Welton Bibby And Baron Limited, United Bags, Inc., Langston Companies, Inc.,Global-Pak, Inc., Genpak Flexible, Paperbags Limited, York Paper Company Limited, WestRock Company and JohnPac Inc.
About the Study
The study offers readers a comprehensive assessment of the paper bags market. Global, regional and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights on the basis of product type (sewn open mouth, pinched bottom open mouth, pasted valve, pasted open mouth, flat bottom), material type ( brown kraft, white kraft), thickness (<2 ply, 2 ply, 3 ply, >3 ply), end use ( agriculture & allied industries, building & cons, food & beverage, retail, chemicals, others),, across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
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, the global financial capital, and has delivery centers in the 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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SOURCE: Future Market Insights
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