Press release
Paper Bag Global Market will Exceed $7.72 Billion By 2028 with a Projected CAGR of 5.7% | Mondi PLC, Genpak LLC, Ronpak Inc., United Bags Inc., Global-Pak Inc.
Paper Bag Market Size
Paper Bag Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $7.72 billion In 2028 At A CAGR Of 5.7% :
The paper bag market size has grown strongly in recent years. It will grow from $5.87 billion in 2023 to $6.18 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to environmental awareness and regulations, consumer preferences and lifestyle changes, retail and packaging trends, raw material availability and prices, brand image and corporate social responsibility (CSR).
The paper bag market size is expected to see strong growth in the next few years. It will grow to $7.72 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to circular economy and recycling infrastructure, e-commerce expansion, global packaging regulations, rising consumer awareness, supply chain resilience. Major trends in the forecast period include innovations in design and functionality, technological advancements in manufacturing, brand image and corporate social responsibility (CSR), technological advancements in manufacturing, emphasis on lightweight and durable materials.
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Paper Bag Market Major Segments
The paper bag market covered in this report is segmented -
1) By Type: Flat Bottom Bags, Pinched Bottom Bags, Sewn Open Mouth Bags, Pasted Valve Bags, Other Types
2) By Material Type: Brown Kraft, White Kraft
3) By Usage: Single Use, Reusable
4) By Distribution Channel: Convenience Stores, Supermarkets Or Hypermarkets, Specialty Stores, E-Commerce, Other Distribution Channels
5) By End-User: Food And Beverages, Pharmaceutical, Retail, Construction, Chemicals, Other End-Users
Key Driver - Online Food Delivery Boom Fuels Growth In The Paper Bag Market
The increasing online food delivery services are expected to propel the growth of the paper bag market going forward. Food delivery services refer to online third-party food-ordering systems that deliver authorized food products. Paper bags are a versatile and eco-friendly packaging option that can provide a range of benefits for online food delivery services such as branding opportunities, moisture resistance, heat retention, and eco-friendly alternative to plastic bags and other packaging materials. For instance, in July 2022, according to Zomato Ltd., an India-based food delivery company, In the fiscal year 2022, Zomato fulfilled 535 million orders, marking a substantial 124% increase compared to the previous fiscal year, FY21. Therefore, the increasing online food delivery services are driving the growth of paper bags.
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Prominent Trend - Eco-Friendly Paper Bags Transforming The Paper Bag Market
Major companies operating in the paper bag market are developing new products such as recyclable paper bags to gain a competitive edge in the market. Recyclable paper bags are environmentally friendly bags made from paper that can be collected and processed for reuse, promoting sustainability and reducing environmental impact. For instance, in November 2022, PACK'D, a UK-based food and beverages company, launched recyclable paper bags for its packaging, featuring a flexible paper film that serves as an eco-friendly substitute for traditional plastic. The bags are designed for easy disposal, aligning with the brand's commitment to reducing plastic usage. The scrunchable form of the bags not only addresses storage concerns, particularly in busy freezers, but also showcases adaptability. Overall, the recyclable paper bags emphasize practicality, sustainability, and innovation in packaging.
Paper Bag Market Players
Major companies operating in the paper bag market report are International Paper Company, WestRock Company, Smurfit Kappa Group plc, Oji Holdings Corporation, Mondi plc, Sonoco Products Company, Visy Industries Pty Ltd, Novolex Holdings LLC, Papier-Mettler KG, Genpak LLC, Ronpak Inc., Champion Packaging & Distribution Inc., Interflex Group Inc., Paperbag Limited, Packaging Pro Inc., Bedford Paper Inc., Bagcraft Packaging LLC, Bulldog Bag Ltd., International Converter Inc., Wisconsin Converting Inc., United Bags Inc., Global-Pak Inc., Burgass Carrier Bags Ltd., CEE Schisler Packaging Solutions LLC, Gilchrist Bag Manufacturing LLC, Thai Showa Paxxs Company Limited, American Paper Bag LLC, Novplasta Cz s.r.o., Rosenbloom Groupe Inc., Paperera de Girona SA, Ampac Holdings LLC, Emerald Packaging Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the paper bags market in 2023. Asia-pacific is expected to be the fastest-growing region in the global paper bag market report during the forecast period. The regions covered in the paper bag market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Paper Bag Market Report Structure
3. Paper Bag Market Trends And Strategies
4. Paper Bag Market - Macro Economic Scenario
5. Paper Bag Market Size And Growth
…..
27. Paper Bag Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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