Food-grade paper bags dominate the consumer market category for paper bags. Retail bags for fast-moving consumer items, such as cosmetics, are in high demand. The need for paper bags is expected to increase as the middle class population grows. What is the current situation of the paper bag market? Here are some of the product's market opportunities. The paper bag market is predicted to grow most rapidly in Asia Pacific.
Segmentation of Applications
The global paper bags market is divided into several segments, including product, end-user, and geography. The retail market is the largest segment, with an increasing number of stores. This industry is predicted to grow at the fastest rate in the coming years, owing to the growing use of paper bags. These bags are effective, dependable, and practical.
Over the projected period, the market for paper consumer bags is expected to rise steadily. Rapid urbanization has resulted in an increase in environmental concerns as well as waste reduction awareness. As a result, paper consumer bags have grown in popularity for uses such as gift bags, advertising, wine transport, and shopping. During the forecast period, this segment is expected to grow the fastest. Asia Pacific has the highest market share and is predicted to grow at the fastest rate in terms of revenue during the forecast period.
The Asia Pacific area will continue to rule the world market. Due to its expanding retail business, China is predicted to grow at the quickest rate. By May 2020, China will have generated RMB 3.2 trillion in retail bag sales. Furthermore, the need for retail paper bags will be fueled by changing customer perceptions in the region. While North America and Europe will continue to lead the worldwide industry, Asia Pacific will continue to rise at a rapid pace.
Type of Material
The global market for paper bags is rapidly expanding. By 2020, the market is predicted to be worth USD 5 billion, rising to USD 6.6 billion by 2026. This study examines the market's primary drivers, as well as obstacles and opportunities.
The global market for paper consumer bags is split by production material. During the projected period, the market for paper-based consumer bags is expected to grow at a CAGR of 6.8%. This expansion is aided by rapid urbanization and increasing economic development. As a result, consumers and manufacturers are becoming more conscious of the negative effects of plastic bags on the environment. In the next years, this will continue to fuel the growth of the paper consumer bag industry.
Kraft, newsprint, offset, and recycled paper are among the six types of paper used in retail paper bags. Suppliers all across the world prioritize recycled paper bags. It is long-lasting and of comparable quality to regular paper. Alternative materials are being investigated since wood-based paper is expensive. Bamboo and sugar cane paper, for example, are becoming more popular as alternatives to typical paper bags.
Types of Paper Bags
The paper bag market is further divided into size, shape, and sealability categories. Hand-length handles have the biggest market share and are commonly utilized in retail establishments and food packing. The paper bag business is expected to be dominated by convenience stores in the next years. The primary segments of the paper bag market are listed below.
Among all other segments, white kraft paper bags are the most common, but advertisers like them because they give a suitable surface for printed brands. 2-ply and 3-ply paper bags are available. Food and beverage, as well as chemicals, are two of the most popular end-user markets for paper bags. The rise of the paper bag market will be aided by the increase in the number of supermarkets. By 2030, they will account for over 75% of the whole market, with a $1.9 billion incremental opportunity.
Regions
Asia Pacific is the region with the biggest revenue share. Throughout the predicted period, the region is expected to maintain its dominant position. Due to the growing popularity of beauty and personal care items, as well as consumer-friendly products, the region is predicted to develop the fastest. Furthermore, the region's paper bag market is likely to benefit from growth in the food and beverage industry. Despite the expansion of the e-commerce industry, the area is likely to be the leading user of paper bags over the projection period.
During the forecast period, North America is estimated to retain the greatest share of the global paper consumer bag market. Due to strict environmental rules, the region is also likely to witness considerable expansion in the near future. Furthermore, due to the growing popularity of paper consumer bags in Asia Pacific, the region is likely to lead market growth in the approaching years. Furthermore, the region's expanding population is likely to boost the demand for paper-based consumer bags.
Conclusion:
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