The global multiwall bags market is on a trajectory of steady growth, with a projected average Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period. By 2023, the market is expected to reach a revenue of approximately US$ 15.57 billion, and it’s anticipated to surpass US$ 24.42 billion by 2033.
According to analysis by FMI, plastic multiwall bags are the preferred choice, holding a dominant share of nearly 73.9% in the global multiwall bags market. The overall sales of multiwall bags are forecasted to exhibit substantial growth, hitting the US$ 24.42 billion mark by 2033.
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The plastic bags segment is poised for significant growth, driven by increasing demand for lightweight, cost-effective, and convenient packaging solutions. This demand surge is primarily attributed to the extensive use of plastic bags in industries such as food and grains, pharmaceuticals, and retail. Over the forecast period, the global plastic multiwall bags market is expected to expand steadily at a 4.6% CAGR.
Asia Pacific is projected to be a key growth driver for the multiwall bags market, owing to factors like a growing working population, a robust global economy, and increasing local demand for ready-to-eat and convenience food products. These dynamics make Asia Pacific a promising region for the multiwall bags industry’s expansion in the coming years.
Key Takeaways:
- The United States market leads the multiwall bags market in terms of market share in North America. The United States region held a market share of 18.3% in 2023. The growth in this region is attributed to the expanding outlets, attractive creative packaging, and sustainable packaging. North America region held a significant market share of 27.1% in 2022.
- Germany market is another successful market in the Europe region. The market holds a market share of 4.3% in 2022. The growth is attributed to the bans on plastic packaging and growing awareness around carbon emissions. Europe region held a market share of 24.7% in 2022.
- India’s multiwall bags market booms at a CAGR of 6.0% during the forecast period. The market’s growth is attributed to proliferating packaged food sales along with the focus on promoting paper bags.
- China’s market also thrives at a CAGR of 5.6% between 2023 and 2033. The growth is caused by the high penetration of innovative ideas.
- Based on material type, the plastic segment held the leading market share of 70.6% in 2022.
- Based on end-use type, the food segment performs well as it held a leading market share of 38.3% in 2022.
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Growth Opportunities in Multiwall Bags Industry:
- Sustainable Packaging Demand: Growing emphasis on sustainable and eco-friendly packaging solutions presents a significant opportunity for multiwall bags, as they are often made from recyclable materials.
- Food and Agriculture Sector: Increased demand for efficient and durable packaging in the food and agriculture industry, driven by population growth and changing consumer preferences, creates a substantial market opportunity for multiwall bags.
- Emerging Markets: Expansion into emerging markets, especially in Asia and Latin America, offers potential growth due to increased industrialization, rising disposable incomes, and a growing need for reliable packaging solutions.
- Innovative Materials: Research and development in materials technology, including the use of advanced polymers and coatings, can enhance the performance and versatility of multiwall bags, providing a competitive edge and new growth avenues.
- E-commerce Packaging Solutions: The rise of e-commerce and online retailing creates opportunities for multiwall bags in the packaging of various products, particularly in sectors like pet food, chemicals, and bulk goods.
Industry Trends:
- Digital Printing Technology: Adoption of digital printing on multiwall bags is increasing, allowing for customized and vibrant designs, as well as variable data printing for branding and product information.
- Focus on Lightweighting: Industry trends show a shift towards lightweight yet strong materials for multiwall bags, aiming to reduce environmental impact, transportation costs, and overall packaging expenses.
- Barrier Coatings: The incorporation of advanced barrier coatings, such as those providing moisture resistance and extended shelf life, is a prevailing trend to enhance the functionality and protective qualities of multiwall bags.
- Regulatory Compliance: Stringent regulations regarding packaging materials and waste management are influencing the industry, leading to innovations in eco-friendly, biodegradable, and compliant multiwall bag solutions.
- Evolving Design for Convenience: The market is witnessing a trend towards user-friendly and convenient designs, including features like easy-open seals, resealable closures, and ergonomic handles, catering to consumer preferences for hassle-free handling and storage.
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Global Multiwall Bags Market By Category
By Material:
- Plastic
- Paper
By Capacity:
- Up to 5Kg
- 6Kg to 10Kg
- 11Kg to 25Kg
- Above 25Kg
By End-use:
- Food
- Chemical & Fertilizers
- Building & Construction
- Automotive
- Other End Use
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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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