According to Fortune Business Insights, The global paper bag packaging market size was valued at USD 6.91 billion in 2023. It is projected to grow from USD 7.26 billion in 2024 to USD 11.30 billion by 2032, exhibiting a CAGR of 5.69% during the forecast period. Asia Pacific dominated the paper bag packaging market with a market share of 33.29% in 2023.
Paper bag packaging deploys paper bags and is mainly utilized for the transportation of goods or sale in retail sectors. The surging demand for the product from end users, which can be attributed to its reusable offerings and more brand visibility, leading to the reduction in landfills, is impelling the market growth. A paper bag is an essential packaging solution made from recycled paper. The rising adoption of biodegradable flat-bottom paper bags packaging across various end-use industries drives market growth.
Fortune Business Insights presents this information in their report titled “Paper Bags Packaging Market, 2024–2032.”
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Major Players Profiled in the Report:
- Smurfit Kappa (Ireland)
- International Paper Company (U.S.)
- Westrock Company (U.S.)
- Huhtamaki Oyj (Finland)
- Mondi Plc (U.K.)
- Oji Holdings Corporation (Japan)
- Welton Bibby & Baron Ltd (U.K.)
- Novolex Holdings Inc. (U.S.)
- Ronpack (U.S.)
- Packman Packaging (India)
- Primepac Industrial Limited (New Zealand)
- Bee Dee Bags (Australia)
Segmentation:
By material, the market is bifurcated into white kraft and brown kraft. The brown kraft segment accounted for the largest paper bags market share in 2023. The extensive usage of brown kraft material among several end-use industries is propelling the segment growth.
In terms of packaging type, the market is classified into pasted valve, pasted open mouth, flat bottom, pinched open bottom mouth, and sewn open mouth. The flat bottom segment registers the largest paper bags packaging market share due to their rising demand in grocery shops and retail.
With respect to application, the market is categorized into agriculture, retail, pharmaceuticals, personal care & cosmetics, food & beverages, and others.
Based on geography, the market for paper bags packaging is segregated into the Asia Pacific, Europe, the Middle East & Africa, North America, and Latin America.
Report Coverage
The competitive strategies implemented by market leaders to strengthen their position have been mentioned in the report. Besides this, it provides an in-depth analysis of the latest trends, the COVID-19 pandemic impact, and significant industry developments. The report further offers a comprehensive coverage of the major factors affecting the paper bags packaging market size.
Drivers:
Increasing Demand for Customizable Packaging Solutions and Efficient Carriers of Goods to Spur the Market Growth
The paper bags packaging market growth is being boosted by a surge in the demand for efficient goods carriers coupled with the rising demand for customizable packaging solutions. Moreover, the market growth is further driven by the extensive advantages provided by paper packaging.
However, the less durability of the product as compared to other packaging materials may hamper the market growth.
Regional Insights:
Asia Pacific Dominates Due to Flourishing Retail Sector
The Asia Pacific witnesses the largest share in the market. The growth of the retail sector, along with the robust presence of prominent manufacturers, is fostering the regional expansion.
North America is witnessing the fastest growth in the paper bags packaging market owing to tightening regulations on the consumption of plastic and a considerable rise in e-commerce.
Europe market for paper bags packaging is observing quick demand for the product on the back of the presence of prominent cosmetic brands.
The market in Latin America is poised to witness moderate growth during the forecast period on account of the expansion in the food & beverage industries.
Information Source: https://www.fortunebusinessinsights.com/paper-bags-packaging-market-108337
Competitive Landscape:
Prominent Companies Emphasize Various Strategic Moves to Bolster Their Share
The market leaders are incorporating various strategic initiatives such as mergers & acquisitions, joint ventures, and product innovations to reinforce their industry position. Many companies are deploying collaboration strategies to maximize their revenue.
Key Industry Development
- June 2024- Mondi collaborated with Cemex and introduced its ground-breaking SolmixBag to the building industry in the Mallorca, Balearic Islands of Ibiza, and Menorca. The SolmixBag is a one-ply paper bag made from 100% kraft paper, designed to easily store and transports products such as screed, dry cement, and coarse pre-mixes.
- April 2023– ProAmpac, a leader in flexible packaging and material science, launched its patent-pending PRO-EVO Recyclable platform. This addition to the ProActive Recyclable series of products, PRO-EVO Recyclable, is an efficient multiwall paper-based self-opening-sack (SOS) bag, certified for curbside recycling, ideal for dry pet food.