According to recent research, the worldwide jute bags market, valued at US$ 1.2 billion in 2022, is expected to experience robust growth, with projections indicating a potential increase to US$ 1.9 billion by 2032, driven by a steady 4.9% CAGR over the decade. Furthermore, the study suggests that the global jute bags market could create an additional opportunity worth US$ 783 million throughout the forecast period.
India is considered the most lucrative market for jute bags due to several compelling factors. The adoption of jute bags in the agriculture sector plays a pivotal role in driving their sales in India. According to data from the Office of the Jute Commissioner, jute goods production, including hessian and sacking bags, reached approximately 756,000 metric tons in 2021. The Indian Jutes Mills Association reports that the value of jute goods exports from India was substantial, with US$ 109 million for hessian goods and US$ 59 million for sacking goods in 2020-2021. The Indian jute bags market is expected to remain robust, holding a significant share in South Asia, with a projected incremental opportunity of US$ 148 million by 2032, indicating a 2.1x growth between 2022 and 2032.
In the USA, the jute bags market is also on the rise, driven by growing sustainability concerns. The National Cotton Council of America notes that 61% of companies and retailers are embracing eco-friendly products due to environmental sustainability. The USA is anticipated to dominate the North American jute bags market, holding an 88% share during the forecast period. According to FMI, the USA jute bags market is expected to offer an incremental opportunity of US$ 119 million by 2032, expanding by 1.6x over the assessment period.
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Key Takeaways from Jute Bags Market
- By capacity, 11-30 kg of jute bags segment is projected to remain the leading segment, accounting for 38.5% of the total market share by the end of 2032.
- By distribution channel, the offline segment is anticipated to dominate the market during the forecast period.
- Based on end use, the retail segment is projected to register a CAGR of 5.1%, holding over 8% of the total market share during 2022-2032.
- South Asia and Europe regions are anticipated to showcase the highest demand for jute bags, accounting for 47% of the market share by the end of 2032.
- India is expected to spearhead the growth in South Asia jute bags market owing to the rising applications in agriculture industry.
“Growing demand for cost-effective, durable, ecologically friendly, and sustainable packaging products will boost the jute bag sales across a wide range of industries. Furthermore, personalization and printability features on jute bags will create lucrative opportunities for the jute bags manufacturers” says FMI analyst.
Market Benefits:
- Comprehensive Analysis and Future Estimations: The study offers an in-depth analysis of the global jute bags market, providing valuable insights into current trends and future estimations. This enables stakeholders to identify and understand the imminent investment opportunities within the market.
- Competitive Outlook: The report thoroughly analyzes the key market players and their strategies, providing a comprehensive understanding of the competitive landscape. This information helps stakeholders assess the competitive dynamics and make informed decisions regarding partnerships, collaborations, and investments.
- Application-Based Trends: An extensive analysis of the market based on application helps stakeholders understand the trends specific to each industry or sector. This knowledge assists in identifying growth areas, targeting specific market segments, and tailoring strategies accordingly.
- Quantitative Analysis and Market Opportunities: The report presents a quantitative analysis of the market from 2022 to 2032, providing numerical data and forecasts. This information allows stakeholders to assess the market’s potential and capitalize on prevailing opportunities. It assists in strategic planning, resource allocation, and decision-making processes
Jute Bags Market: A Step Towards Sustainable Living
In a world grappling with the adverse effects of climate change and plastic pollution, the Jute Bags Market presents a ray of hope. By embracing jute bags, consumers can actively participate in sustainable living and reduce their carbon footprint. Small changes in consumer behavior can have a significant impact on the environment, and jute bags provide an accessible and stylish way to make a difference.
Jute Bags Market Landscape
- PEMA Verpackung GmbH,
- MANYAN INC.,
- Trident Jute and
- Bombay Bags
are the key players operating in the jute bags market. Addionally,
- JOYTEX GMBH & CO. KG,
- Jute Cotton Bags,
- Asia Jute,
- Zest tex,
- Cotheeka Jute Industry and
- TopTrans International
are also noticeable players in the jute bags market. The Tier 1 players in the market hold 10-15% in the global jute bags market.
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Jute Bags Market By Category
By Capacity:
- Up to 10 Kg
- 11-30 Kg
- 31-50 Kg
- Above 50 Kg
By End Use:
- Household
- Retail
- Institutional
By Distribution Channel:
- Offline
- Online
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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