Press release
Multiwall Bags Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Mondi Group, Berry Global Inc., Sonoco Products Company, Hood Packaging Corporation, Manyan Inc
Multiwall Bags Market Competitor
The Business Research Company offers in-depth market insights through Multiwall Bags Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The multiwall bags market size has grown steadily in recent years. It will grow from $13.65 billion in 2023 to $14.29 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to agriculture sector, food packaging, construction and building materials, pharmaceutical packaging, e-commerce packaging.
The multiwall bags market size is expected to see strong growth in the next few years. It will grow to $17.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to food safety regulations, retail packaging, health and hygiene, custom printing, industrial applications. Major trends in the forecast period include biodegradable materials, innovative designs, sustainability certifications, automated filling, advancements in technology.
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Market Segmentation:
The main types of products in multiwall bags are paper based, and plastic bags. Paper-based bags are used for shipping and storage of bulk and powdered commodities such as cement flour and so on. Paper bags are multi-walled bags that are manufactured with porous craft paper which is a paper made with 80% sulphate wood pulp and has high elasticity and high tear resistance. The different layers include 2-ply, 3-ply, and others that are used in food and grains, agriculture, building and construction, chemical, retail, pharmaceuticals, and others applications.
Major Driver - Sustainable Packaging Revolution Multiwall Bags Market On The Rise
The increase in use of sustainable packaging solutions is expected to propel the growth of the multiwall bags market growing forward. Sustainable packaging solutions have the least environmental impact since they're manufactured with recyclable materials and are also eco-friendly. Multiwall bags are easily recyclable and created from renewable materials, so referred to as sustainable packaging solutions. For instance, according to a survey of more than 15,000 end consumers across North America, Europe, and South America by Trivium Packaging, a Netherlands-based sustainable packing company, in 2021, 83% of consumers showed a willingness to pay more for sustainable packaging as compared to 70% in the previous year. Therefore, increasing the use of sustainable packaging is driving the growth of the multiwall bags market.
Competitive Landscape:
Major companies operating in the multiwall bags market include Mondi Group, Berry Global Inc., Sonoco Products Company, Hood Packaging Corporation, Manyan Inc, Lincon Polymers Pvt. Ltd., ProAmpac Holdings Inc., Global-Pak Inc., LC Packaging International BV, NNZ Group, Premier Polymer Inc., United Bags Inc., Langston Companies Inc., Trombini Embalagens S.A., Nebig Verpakkingen B.V., El Dorado Packaging Inc., Material Motion Inc., MIDCO Global, San Miguel Yamamura Woven Products Sdn Bhd, Oji Fibre Solutions Limited, Sanghavi Global, Napco National, Corman Bag Co. Inc., Bag Supply Company Inc., Southern Packaging LP, Novey Bag Co., Stephen Gould Corp., Mil-Spec Packaging of GA Inc.
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Top Trend - Revolutionizing The Multiwall Bags Market Embracing Innovative Flexible Packaging Solutions
Product innovations are the key trends gaining popularity in the multiwall bags market. Major companies operating in the multiwall bags sector are focused on introducing new flexible Packaging that are manufactured by using multilayer structures with superior oxygen and moisture barrier to sustaining their position. For instance, in December 2021, ePac is US based Flexible Packaging technology-driven custom flexible packaging company announce the launch of ePacConnect a digitally enabled packaging solution that will enable brands of all sizes to leverage smart packaging in order to verify authenticity, trace packaging and engage with consumers like never before.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Multiwall Bags Market Characteristics
3. Multiwall Bags Market Trends And Strategies
4. Multiwall Bags Market - Macro Economic Scenario
5. Multiwall Bags Market Size And Growth
…..
27. Multiwall Bags Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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