Press release
Woven Sacks Market To Surpass Valuation Of US$ 3.84 Bn By 2029
Transparency Market Research delivers key insights for the woven sacks market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2019-2029. In terms of revenue, the global woven sacks market is projected to grow at a CAGR of 6% during the forecast period, owing to several factors, about which TMR offers detailed insights and forecasts in the woven sacks market report.Woven sacks offer excellent resistance to stress, and high resistant to cracking, are easy to produce, assemble, of economic material, non-toxic, non-staining, and light in weight with low density. The ongoing shift in the preference from rigid to flexible packaging has surged the demand for woven sacks across various industries, including food, building & construction, agriculture, and chemicals. Woven sacks are resistant to most alkalis and acid, organic solvents, degreasing agents, thereby increasing consumption at global level. The TMR team segmented the analysis of woven sacks market based on product, material, end use, and region. N terms of machine type, automatic segment in the global woven sacks market is account for substantial market share and is expected to drive the overall woven sacks market during the forecast period.
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The global rise in demand for user-friendly packaging solutions results in higher demand for flexible packaging solutions, as consumers are stimulated to buy convenient packaging solutions over other alternatives. The outcome of the growing popularity of flexible packaging solutions is a sharp rise in sales of woven sacks for packing their products & offerings by various end-use industries. As compared to other rigid packaging solutions used for packaging building & construction, agriculture, chemicals, and food, usage of woven sacks for the same goods results in increased shelf lives of the product. End-use industries can cater to advanced market needs of delivering the product such as foods, vegetables and seafood, by keeping the freshness of the product intact. Flexible packaging solutions such as pouches, wraps, and bags in comparison with rigid clamshells, trays, and boxes maintain the freshness of the product and keep it free from external moisture and harsh atmospheric repercussions. The abovementioned factors are projected to drive the demand for woven sacks globally and result in the future growth of the global woven sacks market.
Technology has aided in streamlining and increasing the efficiency of the recycling process. Recyclers acquire a variety of plastics, which can be time-consuming and expensive to sort by hand. As a result, recyclers are turning to high-tech solutions such as infrared (IR) lasers. Air bursts puff various plastics into separate streams for recycling when IR rays shine on them and detect their different contents. Furthermore, traditional plastic recycling techniques use a lot of water. Some recyclers have devised methods for cleaning, cooling, and producing recycled plastics without the need for water. These devices can also assist in lowering energy use. Reduced water and energy consumption may result in further environmental benefits as well as decreased recycling costs.
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Food and beverage manufacturers, agricultural companies, and chemical product manufacturers are working on automating packaging tasks for their products and offerings. Flexible packaging is in high demand among key worldwide end users, due to the high need for packaging solutions compatible with automatic packaging machines. Key packaging manufacturers are focusing on meeting the demands for particularly designed films from large worldwide end users, which make it easier for end-users to pack items using advanced packaging technology. End-user industries improve production as a result of packaging solutions that facilitate automatic machinery, resulting in a significant demand for woven sacks.
The global woven sacks market is projected to witness strong competition among key players. This market includes few well established market participants. Along with this, several other local and small scale manufacturers are also entering into woven sacks market attributing to significant revenue creation with the raising demand of woven sacks. Some of the key players operating in the global woven sacks market are Berry Global, Inc., Mondi Plc., UFlex Ltd., Muscat Polymers Pvt. Ltd., Mansarovar Agro Sacks Private Limited, Bang Polypack, Commercial Syn Bags Limited, Al-Tawfiq Company, United Bags Inc, Da Nang Plastic Joint Stock Company and among others.
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The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure Muscat Polymers Pvt. Ltd, Berry Global, Inc, and Mondi Plc are the tier 1 players in the woven sacks market. These leading companies are adopting key strategies such as business expansion, acquisition and products launch to strengthen their position in the woven sacks market. Moreover, tier 2 players Mansarovar Agro Sacks Private Limited, UFlex Ltd, Bang Polypack, and others.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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