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The plastic bag and sack market involves manufacturing of plastic bags and sacks made from plastic resins like polyethylene, polypropylene and others. These bags are used extensively in various end-use industries like retail, food & beverages, agriculture, consumer goods, pharmaceuticals and others. Plastic bags and sacks offer advantages like durability, moisture resistance, flexibility and convenience over traditional carry bags. With growing demand for efficient logistics and packaging from these industries, the global market for plastic bags and sacks is estimated to witness steady growth over the forecast period.
The Global plastic bag and sack market is estimated to be valued at US$ 26.85 Bn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the plastic bag and sack market are AEP Industries Inc., Mondi Group, Berry Plastics Inc., Alpha T-shirt, Novolex, Ampac Holdings LLC, Bischof and Klein GmbH and Co. KG, Inteplast Group, Starlinger and Co Gesellschaft M.B.H, Da Nang Plastic Joint Stock Company, Hanoi Plastic Bag JSC, Goglio Group, Schur Flexibles Group. These players are focusing on expanding their production capacities and global footprint through mergers, acquisitions and partnership strategies to leverage new growth opportunities.
The key opportunities in the market include development of bio-based and recyclable plastic bags, growing demand from emerging economies and focus on sustainable packaging goals. The market is also witnessing increasing adoption of plastic bags from developing nations in Asia Pacific and Middle East & Africa regions, driven by rapid industrialization, urbanization and changing consumer lifestyles.
The global plastic bag and sack market is expected to witness steady growth owing to rising demand from end-use industries, growing e-commerce industry and shifting consumer preference towards light weight and durable carry bags.
Market Drivers
One of the key drivers for Plastic Bag And Sack Market Demand is growing demand for durable and flexible packaging solutions from food & beverages industry. Plastic bags offer advantages like leak & moisture resistance while packaging various food items. This drives their widespread adoption among food brands and retailers globally. Furthermore, growing online grocery shopping trends coupled with rising need for tamper proof and convenient packaging further accelerates plastic bag consumption. Overall, growth of the food industry acts as a major market driver for plastic bags and sacks across various regions worldwide.
PEST Analysis
Political: Growing bans on plastic bags by various governments across the globe create uncertainty for manufacturers. Some key countries that have imposed bans or taxes on plastic bags include China, France, Italy, and Kenya.
Economic: Changes in global economic conditions directly impact consumer spending patterns and demand for products like plastic bags and sacks. High raw material prices can squeeze profit margins for manufacturers.
Social: Rising environmental concerns among consumers are shifting preferences toward sustainable bag choices. However, plastic remains a popular choice for its low cost and convenience.
Technological: Technology advancements allow manufacturers to produce specialized plastic bags and sacks using renewable, recycled, and biodegradable feedstock. This helps address environmental sustainability.
The market in terms of value is primarily concentrated in Asian countries like China, India, Indonesia, and Thailand due to factors like large population, growing industrial and retail sectors. North America is another substantial market driven by the developed retail landscape in the United States.
In terms of fastest value growth, markets in Africa and South America are projected to expand rapidly aided by developing economies, improving lifestyles, and rising e-commerce penetration in countries like Brazil, Nigeria, South Africa boosting plastic bag demand. Growing construction activity is another key driver of sack consumption in infrastructure projects.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
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