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Plastic Bags & Sacks Market Set to Register healthy CAGR During 2020-2026

Plastic Bags & Sacks Market Set to Register healthy CAGR During

The plastic bags & sacks are developed from two type of plastic materials, which are biodegradable and non-biodegradable. In 2017, more than 85% of plastic bags & sacks were manufactured from non-biodegradable materials such as HDPE, LDPE, LLDPE, PP, PS and other plastics. The non-biodegradable plastics are the highly preferred material for the production of plastic bags & sacks, due to cost effectiveness & abundant availability of the material. As compared to non-biodegradable plastics, biodegradable plastic consumes large amount of resources for processing, leading to higher cost of the material. Biodegradable plastic bags & sacks are eco-friendly and decomposable as compared to the oil-based plastics (non-biodegradable plastic).

Non-biodegradable plastic bags & sacks are expected to be highly attractive in terms of incremental opportunity and market share by the end of 2026. For manufacturing of non-biodegradable plastic bags & sacks, polyethylene material is most preferred. In 2017, more than half of plastic bags & sacks were made up of LDPE and HDPE plastics. Polypropylene plastic bags & sacks segment is expected to register a CAGR of 3.6% during the forecast period.

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Europe region is estimated to be the largest geographic segment in the global non-biodegradable plastic bags & sacks market in 2018. In the European plastic bags & sacks market, LDPE & HDPE is expected to reach a cumulative market share of more than 60% during the forecast period. PS (Polystyrene) and other non-biodegradable plastic bags & sacks market segments are projected to witness sluggish growth during the forecast period. In Asia Pacific plastic bags & sacks market, HDPE is the highly preferred non-biodegradable plastic material for plastic bags & sacks. With the highest market share in Asia Pacific plastic bags & sacks market, HDPE material is also anticipated to create highest incremental opportunity as compared to other materials. Latin America and Middle East & Africa are expected to account for less than 15% of value share in the global plastic bags & sacks market in 2018.

Drivers and Restraints

In the present market scenario, the end-use plastic bags & sacks is not limited to the packaging of goods, but also for promoting the brand. Most of the leading supermarkets use plastic bags & sacks for promoting their brand. The use of plastic bags & sacks has increased among the retailers due high printability of plastic bags & sacks for providing detailed information about the product. As printed plastic bags & sacks are an effective marketing tool to promote brands, not only for the retailers, but also for the manufacturers of apparels, food & beverage, and other consumer products, have reflected an increased interest towards printed plastic bags & sacks. The plastic bags & sacks manufacturers offer customized printing options as per the demand of the consumer.

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