Paper Bags Market Impacted by COVID-19, Market to Remain Dormant in Near Term, Projects FMI 2022 -2030

The worldwide paper bags market is there to observe consistent quality as a CAGR off 4.1% somewhere in the range of 2022 and 2030. It is good to go to arrive at US$ 7.3 Bn during this period.

paper bags market is assessed to reach over US$ 7.2 Bn in the following ten years. Appeal for paper bags for cleanliness upkeep is expected in the post-Covid period. By volume, squeezed base open mouth portion is expected to outperform different fragments and expected to hold over 30% worth offer in the worldwide market toward the finish of 2030.

paper bags utilization has been consistently expanding in businesses including farming, development, and others. Subsequently, somewhere in the range of 2022 and 2030, the market for paper bags is supposed to develop at a CAGR of 4.1 percent.

These types of paper bags are highly preferred in medium to large format products with varying density, and also for sensitive products. Brown kraft segment amongst the other material types is estimated to account for nearly 3/4th value share and provide an incremental opportunity of US$ 1.9 Bn by the end of 2030.

Surplus Sales of Paper Bags?

“On-the-Go and Take Away Food to take the Pie”

The global food and beverage industry has been registering steady growth in sales. There is high penetration of retail outlets of all formats at global level — supermarkets, department store, and convenience. All these formats have reported positive growth.

Rising number of single person households globally has resulted in a significant number of people preferring eating out than cooking at home. High rate of urbanization in the region has led to strong demand for construction materials. The global food and beverage sector has witnessed the establishment of several new food outlets, which is accelerating the demand for paper bags.

How has Covid-19 impacted the Paper Bags market?

The COVID-19 crisis had halted operations across various verticals between March 2020 and September 2021. As such, the production of paper bags had declined therein. However, with normalcy getting restored, agriculture & allied industries, building & construction, food & beverage, retail and chemicals verticals are expected to flourish, which, in turn, would ask for more number of paper bags.

Category-wise Insights

As per product, sewn open mouth bags segment is estimated to hold nearly 1/5th of the value share in the global market. However with the increasing demand of pinched bottom open mouth bags, this segment is estimated to decline by 130bps during the forecast period. The other products are pasted valve, pasted open mouth, and flat bottom.

Pinched bottom open mouth bags is the fastest growing. This is expected to witness a gain of 130 bps of current market share by the end of 2030.

Competitive Landscape

The top players account for 40–45% of the global production. The key players operating in the market have a stipulated focus on mergers and acquisitions and region-wise expansion for gaining competitive edge along with expanding their product portfolio to provide the customers with a higher range of products.

• Waddington Europe (a brand of Novolex Holdings, Inc.), in November 2020, did launch their exclusive range of 100% food packaging solution with zero to landfill status. The new Eco Blend 100 and Eco Blend Pura products are made from in-budget materials.
• WestRock Company, in the year 2020, tabled their new-fangled paper Sack and bag paper packaging Solutions — FibreGreen, which are recyclable, renewable, and SFi-certified. They prove to be ideal for grocery. Lightweight grades are ideal for liquor bags, lunch, and things analogous over here.

Key Segments Covered in Paper Bags Industry Research

Paper Bags Market by Product Type:

• Sewn Open Mouth
• Pinched Bottom Open Mouth
• Pasted Valve
• Pasted Open Mouth
• Flat Bottom

Paper Bags Market by Material Type:

• Brown Kraft
• White Kraft

Paper Bags Market by Thickness:

• <2 Ply
• 2 Ply
• 3 Ply
• >3 Ply

Paper Bags Market by End-User:

• Agriculture & Allied Industries
• Building & Cons
• Food & Beverage
• Retail
• Chemicals
• Others

Paper Bags Market by Region:

• North America Paper Bags Market
• Latin America Paper Bags Market
• Europe Paper Bags Market
• East Asia Paper Bags Market
• South Asia Paper Bags Market
• Oceania Paper Bags Market
• Middle East & Africa (MEA) Paper Bags Market

Access Full Report@ https://www.futuremarketinsights.com/reports/paper-bags-market

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