Retail sector to significantly contribute to the growth of the global paper bags market
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Global Paper Bags Market: Factors Driving Growth
Several aspects are responsible for the growth of the paper bags market. Factors such as a highly active retail sector in developed economies, increasing innovation in product design, growing penetration of the retail sector in emerging markets, strong consumer confidence rejuvenating retail sales, increasing PPP projects leading to increased demand for paper bags for construction and rising demand for on-the-go retail food are triggering the growth of the global paper bags market.
Global Paper Bags Market: Segmental Snapshot
The global market for paper bags is segmented on the basis of product type, thickness, material type, end use and region.
By region, Asia Pacific excluding Japan is expected to reflect high market attractiveness in the coming years. The paper bags market in this region is anticipated to grow at a higher CAGR and reach a valuation of more than US$ 2,200 Mn by the end of the year of assessment thus leading the global paper bags market.
By product type, pinched bottom open mouth segment is poised to showcase largest market value and is projected to grow at a high value CAGR during the period of forecast. Sewn open mouth segment in this category is the second largest with respect to market share.
In the material type category, brown kraft is widely used as compared to white kraft. The brown kraft segment is projected to grow at a 4.5% value CAGR and is estimated to reach a value of above US$ 5 Bn by the end of the year of assessment.
In the end use category, the retail segment dominates the global market followed by the food and beverages segment. The retail segment is expected to grow at a value CAGR of 4.3% during the period of forecast.
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Global Paper Bags Market: Forecast Analysis
According to this research report, the global market is estimated to reach a valuation of more than US$ 7 Bn by the end of the year of assessment (2027) from a value of about US$ 4,500 Mn by 2017 and is projected to grow at a CAGR of 4.4% during the period of forecast.
Global Paper Bags Market: Competitive Analysis
The research report on the global paper bags market includes analysis of key companies such as The Mondi Group plc., Smurfit Kappa Group, International Paper Company, Novolex Holdings, Inc., Ronpak, Welton Bibby And Baron Limited, JohnPac Inc., El Dorado Packaging, Inc., Langston Companies, Inc., United Bags, Inc., Genpak Flexible, Paperbags Limited, Global-Pak, Inc., and York Paper Company Limited.
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