Paper Bags Packaging Market 2020 | COVID-19 Analysis, Size, Opportunities, Trends, Top Players like Hotpack, National Paper, Smurfit Kappa, OJI Holding, DS Smith and others - Forecast 2023
Global Paper Bags Packaging Market information by Product (Flat Paper Bag, Multi-wall Paper Sacks, and Others), by End-User (Food & Beverage, Pharmaceutical, Retail, Construction, Chemicals, and Others) and by Region – Forecast To 2023
Paper Bags Packaging Market Overview
The Paper Bags Packaging is gaining traction owing to a gradual shift towards bio-degradable packaging mode from the plastic-based packaging system. The global Paper Bags Packaging Market is expecting a raise by 4.3% CAGR during the forecast period (2017-2023). Market Research Future (MRFR), in their latest report on the said market, revealed that it is quite plausible that the market would gain valuation higher than the anticipated one.
Factors such as demand for sustainable packaging to reduce the impact of plastic, strict government regulations, alluring style, marketing practices, increasing investment in the sector, and others are propelling the Paper Bags Packaging Market substantially.
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Several companies are showing intense interest in the global Paper Bags Packaging market after realizing its potential in the coming years. MRFR, in their report, enlisted a few and profiled them. They are Hotpack Packaging Industries LLC (Dubai), National Paper Products Company (Saudi Arabia), Smurfit Kappa Group PLC. (Ireland), International Paper Company (U.S.), Ronpak (U.S.), B&H Bag Company (U.S.), OJI Holding Corporation (Japan), DS Smith Plc. (U.K.), WestRock Company (U.S.), Holmen Group (Sweden), Paper Sacks Factory (UAE), Georgia-Pacific LLC. (U.S.), Novolex (U.S.), United Bags, Inc. (U.S.), and Hood Packaging Corporation (Canada).
Japan is showing tremendous growth possibilities in Paper Bags Packaging Market. The region uses plastic in packaging but recent trends are showing a gradual shift towards paper bags, which could open a vast field for the Paper Bags Packaging Market.
In June 2019, Reed acquired PackPlus with an intention to optimally use the latter’s expertise in paper bags. The company is putting its best endeavor in staying connected with latest trends.
Paper Bags Packaging Industry Segmentation
The global Paper Bags Packaging Market, as shown in the MRFR report on the same, has been segmented by product and application. This segmentation aims to unearth advantages and disadvantages of the market by staying close to it.
Based on the product, the Paper Bags Packaging Market is segmented into flat paper bag, multi-wall paper sacks, and others. The multi-wall paper sacks had the largest market share as per the reports published in 2016. Due to its strength and durability, this is often used for packing dry & powdered materials such as dry chemicals, cement, and others. The type is available in various forms like multi-wall paper over poly, pasted valve bags, sewn open mouth bags, and pinch bottom open mouth bags.
Based on the application, the global Paper Bags Packaging Market comprises pharmaceutical, retail, food & beverage, chemicals, construction, and others. The retail segment has the edge over the others in terms of revenue generation. Its demand is getting spurred by consumer good and establishment of shopping complexes and increasing number of consumer stores in the rural, and urban areas. The construction segment also has a substantial market coverage.
Region-specific analysis of the global Paper Bags Packaging Market includes regions like North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
North America has the lion’s share in the global market. The demand is getting driven by the increase in packaged food consumption. The U.S. is leading the market as the demand for hygienic packaging is growing in the region. Also, the pharmaceutical industry is fueling the growth of this packaging industry.
Europe’s contribution would be more innovation-led and it is evident in packaging of personal care, hygiene and beauty products. The regional market is thriving on points like sustainability and customer-friendly packaging. The result is lightweight products, which are quite easily transportable.
The APAC market has the potential to register the fastest CAGR during the forecast period. Various industries are getting a fresh lease of life, which is helping in taking the packaging market forward. Along with industrialization, increasing urbanization is also propelling the growth of Paper Bags Packaging Market. China, Japan, India, Australia, and Indonesia are expected to play significant roles with China taking the lead in improving the global brown Paper Bags Packaging to recycled market scenario.
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