Foodservice Paper Bags Market: On Track to Attain a Valuation of US$ 1,575.9 Million by the End of 2032 | FMI

Projected to attain a valuation of US$ 958.4 million in 2022, the global foodservice paper bags market is poised for continuous growth, with an anticipated Compound Annual Growth Rate (CAGR) of 5.1% from 2022 to 2032. By the conclusion of 2032, the market is forecasted to reach US$ 1,575.9 million. Anticipated sales growth in foodservice paper bags is expected to be prominent, with the top three countries collectively holding an estimated 25-30% of the market share by the end of 2022, underlining the sustained demand for environmentally friendly packaging solutions in the foodservice industry.

Initially, the foodservice industry relied on traditional plastic bags for delivering food products to consumers. However, the shift towards sustainable practices, driven by government initiatives and plastic usage bans, has opened new avenues for growth in the global foodservice paper bags market. The emergence of numerous foodservice outlets worldwide is anticipated to drive increased demand for foodservice packaging, with a specific emphasis on eco-friendly options like foodservice paper bags, aligning with the growing preference for environmentally conscious solutions in the food industry.

Expected to hold approximately 80% of the North America foodservice paper bags market share in the coming decade, the USA showcases a consumer preference for recyclable and sustainable packaging solutions amid concerns about increasing landfill waste. As reported by the American Forest & Paper Association (AF&PA), paper stands out as one of the most widely recycled materials in the USA. This focus on recyclability positions paper packaging favorably, particularly foodservice paper bags, as consumers increasingly prioritize environmentally friendly options. Additionally, with a paper recycling rate surpassing 63% since 2009, the USA’s commitment to recyclable and sustainable packaging continues to drive demand for innovative solutions in the paper packaging sector.

Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-12666

The foodservice paper bag market has shown steady growth with a CAGR of 4.1% from 2015 to 2021. It is poised for further expansion in the future, driven by factors such as heightened environmental concerns, government regulations, and the overall growth of the foodservice industry.

Brown Kraft Material to Be Extensively Used by Printed Paper Bags Manufacturers

Expected to command approximately 83% of the foodservice paper bags market share by the close of 2022, the brown kraft segment, characterized by its environmentally friendly and sturdy attributes, continues to enjoy prominence in the market. This material type’s enduring popularity is attributed to its sustainable nature and robust qualities, aligning with the growing consumer preference for eco-friendly packaging solutions within the foodservice industry.

Key Takeaways

• Brown kraft-based paper bags are expected to account for more than 4/5th of market value, owing to their stiffness.
• Non-handle bags will remain the most sought type, capturing nearly 2/3rd of market value, backed by their convenience and low cost.
• On the basis of end-use, restaurants are poised to capture more than half of overall global value, ascribed to the rising trend of take-away.
• Europe is projected to spearhead the regional landscape of the market, capturing more than 1/3rd of market value.
• East Asia will prevail as the second most lucrative regions through the forecast period, holding a quarter of the market value.

Key Players:

• WestRock Company
• Hutamaki Oyj
• Novolex Holdings LLC
• Ronpak Inc.
• Mondi Group
• Amcor Ltd
• International Paper Company

Competitive Landscape

Major players operating in the global foodservice paper bags market are trying to expand their capacities by developing their facilities. Also, several key players are adopting the merger and acquisition strategy to strengthen and increase their resources. These players are focusing on developing innovative paper bags to gain more market shares.

Some of the latest developments by key players are as follows–

• In August 2022, Novolex Holdings LLC announced the launch of innovative paper bags for more secure deliveries for retailers and restaurants. The paper bag offers a wide opening for easy loading, a flat bottom to keep items secure, and sturdy paper twist handles for easy & reliable carrying.
• In March 2022, WestRock Company expanded its production facility by investing US$ 47 Million at its consumer facility in Claremont.
• In January 2022, Huhtamaki Oyj acquired a company named Smith Anderson Group Ltd. in Portland. The company manufactures and sells paper bags in Eastern Europe.

Trends Shaping the Foodservice Paper Bags Market

1. Eco-Friendly Materials: Consumers are favoring brands that prioritize eco-friendly packaging. As a result, there’s a surge in demand for foodservice paper bags made from recycled paper or materials like kraft paper.
2. Customization: Businesses are recognizing the branding potential of paper bags. Custom prints, logos, and unique designs enhance brand visibility and customer engagement.
3. Versatility: Foodservice paper bags are no longer limited to traditional takeout. They are now used for packaging a wide range of items, including bakery products, fruits, and even gourmet meals.
4. Regulations and Standards: Government regulations aimed at reducing plastic waste are driving businesses to adopt sustainable alternatives like paper bags.

Foodservice Paper Bags: Impact on the Food Industry

The Foodservice Paper Bags Market’s impact extends beyond its eco-friendly nature. These bags offer practical advantages to both businesses and consumers:

• Heat Retention: Insulated paper bags are excellent at retaining heat, making them a preferred choice for delivering hot foods like pizzas and other takeout orders.
• Breathability: Paper bags allow food to breathe, preventing sogginess in products like fried items and maintaining their crispness.
• Branding and Advertising: Customized paper bags serve as mobile advertisements, showcasing a brand’s identity to potential customers as they’re carried around.
• Consumer Preference: As consumers become more conscious of their environmental footprint, businesses that offer sustainable packaging options like paper bags gain a competitive edge.

Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/12666

Foodservice Paper Bags Market Outlook by Category

By Material Type:

• Brown Kraft
• White Kraft

By Bag Type:

• Handle Bags
• Non-handle Bags

By End User:

• Foodservice Outlets
• Online Food Delivery
• Institutional

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Middle East & Africa
• Oceania

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.

Contact Us:        

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube