The open-mouth sacks market is expected to reach an estimated value of US$ 3.1 billion in 2023 and continue to grow at a CAGR of 5.1% to reach US$ 5.2 billion by the year 2033, according to research from Future Market Insights. The market for open-mouth sacks is expected to grow, with the top 5 suppliers controlling 20–25% of it by 2022.
Based on the material, it is anticipated that paper will continue to dominate the other materials used to make open-mouth sacks. This is due to rising consumer awareness of environmentally friendly packaging. By the end of 2023, the paper segment is anticipated to account for around 45% of market value.
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Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Open Mouth Sacks
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Open Mouth Sacks market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
Key Open Mouth Sacks Market Takeaways and Projections
- The U.S. is expected to lead the North America Open Mouth Sacks market, projecting the fastest growth in the region between 2023 and 2033
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2033.
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Report Benefits & Key Questions Answered
- Open Mouth Sacks Historical Market Analysis: The detailed survey by FMI, examines key factors in the Open Mouth Sacks market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Open Mouth Sacks market for the forecast period 2023-2033.
- Open Mouth Sacks Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Open Mouth Sacks for the assessment period. As per the study, the demand for Open Mouth Sacks will grow at a robust CAGR between 2023 and 2033.
- Open Mouth Sacks Market Trend Analysis: The latest study by FMI on the Open Mouth Sacks market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Open Mouth Sacks market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Open Mouth Sacks Market Segmentation
By Material, Open Mouth Sacks Market is segmented as:
- Paper
- Plastic
- Fabric
By Capacity, Open Mouth Sacks Market is segmented as:
- Less than 5kg
- 5-10kg
- Above 10kg
By End Use, Open Mouth Sacks Market is segmented as:
- Food & Beverages
- Chemical & Fertilizers
- Building & Construction
- Other Consumer Goods
By Region, Open Mouth Sacks Market is segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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