Plastic Bags and Sacks Market: Global Analysis, Forecast 2024

The retail sector has witnessed impressive growth over the last few years owing to significant increase in the number of modern retail outlets such as supermarkets, hypermarkets, and convenience stores worldwide. Global retail sales, including online retail and in-store sales, is expected to increase at an impressive CAGR of about 5.5% over the forecast period. These factors are expected to drive growth of the global plastic bags & sacks market over 2016–2024. Also, increasing disposable income and purchasing power of consumers are in turn expected to lead to increasing demand for convenient and cost-effective carry bags for various products. The plastic bags and sacks market in APEJ is expected to register significant growth owing to growth in the region’s retail & consumer sector, whose growth is in turn driven by factors such as changing consumer lifestyle, increasing per capita disposable income of consumers, rapid urbanization, and growth in the industrial sector.

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Transparency Market Research (TMR) delivers key insights on the global plastic bags & sacks market in its latest report titled, “Plastic Bags & Sacks Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024”. In terms of volume, the global plastic bags & sacks market is projected to increase at a CAGR of over 3.4% during the forecast period (2016–2024) owing to various factors, regarding which TMR offers vital insights in detail in this report.

Plastic bag is one of the most common forms of minimized packaging, and it consumes less raw material as compared to boxes, cartoons, and jars. Macroeconomic factors such as rising disposable income and increasing purchasing power among consumers are fuelling demand for convenient and cost-effective plastic bags & sacks. Also, improvement in the global economic performance and rising standard of living of the middle income population group are in turn anticipated to strengthen sales of plastic bags and sacks. Over the last decade, most major players, especially in the consumer goods sector, have been focusing on marketing in order to enhance brand visibility, with brand owners laying emphasis on ‘promotional merchandise’. Brand owners are capitalizing on latent opportunity to use plastic bags as a promotional medium. This trend is anticipated to be adopted by several brands in the near future, in turn fueling demand for plastic bags. Plastic bag manufacturers offer various printing options to clients, and an increasing shift has been observed towards customization of plastic bags in order to cater to specific demands of brand owners.

Increasing demand for consumer goods, food & beverage, and grocery in the retail industry, followed by significant increase in the number of modern retail formats such as hypermarkets, supermarkets, and convenience stores are expected to fuel demand for plastic bags & sacks. Also, stringent policy and regulatory landscape as well as actively imposed bans on the use of lightweight and single-use plastic bags have been major challenges for plastic bag manufacturers worldwide.

The global plastic bags and sacks market is segmented on the basis of material type into biodegradable and non-biodegradable. Biodegradable segment is further sub-segmented into polylactic acid (PLA), polyhydroxyalkanoates (PHA), starch blend resin, and others. Non-biodegradable segment is sub-segmented into high density polyethylene (HDPE), low density polyethylene (LDPE), linear low density polyethylene (LLDPE), polypropylene (PP), polystyrene (PS), and others. Non-biodegradable segment accounts for significant share in terms of volume of the total plastic bags and sacks market; however, biodegradable segment is anticipated to witness an impressive CAGR over the forecast period. By non-biodegradable segment, HDPE sub-segment is expected to dominate in terms of volume; however, LLDPE sub-segment, followed by LDPE sub-segment, is anticipated to be the most attractive in terms of growth rate. On the basis of product type, the global plastic bags and sacks market is segmented into T-shirt bags, gusseted bags, lay flat bags, trash bags, rubble sacks, woven sacks, and others. On the basis of application, the global plastic bags & sacks market is segmented into retail & consumer, institutional, and industrial. Retail & consumer segment is further sub-segmented into grocery products, food & beverage, clothing & apparel, and others.

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