Global Jute Bag Market 2023 Growth Analysis of all Top Key Players Like Aarbur, Ashoka Exports, Hitaishi-KK, Howrah Mills Co. Ltd., Shree Jee International Indian Ltd., and Gloster Limited

The global jute bag market has witnessed a strong growth. This can be accredited to factors like constant government support, mounting awareness amongst consumers, and biodegradable composition of jute bag which makes it an environment-friendly alternative of plastic bag.

Request for free sample report: https://www.imarcgroup.com/request?type=report&id=358&flag=B

According to the latest report by IMARC Group, titled “Jute Bag Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global jute bag market reached a value of US$ 1.5 Billion in 2017. Jute, also known as golden fibre, refers to a natural fibre which is derived from jute plant. After cotton, jute is regarded as the second-most important vegetable fiber. On account of its recyclable, re-usable, non-toxic and biodegradable nature, jute bags are gradually gaining popularity across the globe. If left unused, jute bags get destroyed on their own without leaving behind any remnants or polluting the environment.

On account of growing awareness amongst consumers, particularly due to the environmental factors like surging pollution levels and depletion of the ozone layer, the demand for jute bag is witnessing a strong growth. In addition to this, government of several emerging nations have been undertaking initiatives in order to ban the use of plastic bags. Moreover, they are levying penalties on shops which are selling and continuing to provide goods in plastic bags. As demand for plastic bag is inversely proportional to the demand for jute bag, these initiatives have led to a surge in the demand for jute bags. Further, the popularity of jute bag particularly in the Asia Pacific region is positively influencing its demand in the western countries. Apart from this, manufacturers are constantly coming up with customised bag options, experimenting in terms of style, design, shape and size, so as to widen their consumer-base. Looking forward, the market value is projected to reach nearly US$ 3 Billion by 2023, expanding at a CAGR of more than 10% during 2018-2023.

Browse full report with complete TOC: https://www.imarcgroup.com/prefeasibility-report-jute-bag-manufacturing-plant

Global Jute Bag Market Segmentation:

Market Breakup by Product Type:

1. Jute Sack Bags

2. Jute Shopping Bags

Based on type, the market has been segmented as jute sack bags and jute shopping bags. Currently, jute sack bags dominate the market, holding the largest share due to its affordable price and convenience offered.

Market Breakup by Price:

1. Premium

2. Mass

On the basis of price, the market is classified as premium and mass. Presently, the trend of premium jute bags is witnessing a boost, predominantly in the urban regions.

Market Breakup by End Use:

1. Retail

2. Institutional

Based on end use, the market has been segregated as retail and institutional. Amidst these, retail exhibits a clear dominance in the market.

Market Breakup by Geography:

1. India

2. Bangladesh

3. China

Region-wise, the market has been segmented into India, Bangladesh and China. Amongst these, India is the leading market, accounting for the majority of the global share owing to suitable climatic conditions and fertility of the soil.

Competitive Structure:

The competitive landscape of the market has also been examined with some of the key players being Aarbur, Ashoka Exports, Hitaishi-KK, Howrah Mills Co. Ltd., Shree Jee International Indian Ltd., and Gloster Limited.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact us

IMARC Group
309 2nd St, Brooklyn, NY 11215, USA
Website: www.imarcgroup.com
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal

This release was published on openPR.