Throughout the projected period, the market for kraft paper shopping bags is anticipated to post a respectable CAGR of 3.9%. The market is presently valued at US$ 5.2 billion, and by 2032, it’s expected to grow to US$ 7.47 billion. Survey Conducted by Future Market Insights (FMI), a Leading Market Research and Competitive Intelligence Provider Offers Insights into Vital Dynamics Facilitating the Growth in the Global Kraft Paper Shopping Bag Market over the Assessment Period 2022-2032.
A detailed study on kraft paper shopping bag market by FMI provides riveting insights into key dynamics, such as drivers and opportunities, facilitating the growth in the market. It uncovers challenges posing threats and highlights prospects for growth in the near future.
As per the comprehensive analysis conducted by ESOMAR-certified consulting firm, FMI, the global kraft paper shopping bag market is expected to grow at a healthy CAGR during the forecast period (2022-2032). The objective of the study is to analyze key market dynamics and uncover critical trends & opportunities that will elevate the sales kraft paper shopping bag in the coming 10-years
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The Kraft paper shopping bags market is increasing with the concerns rising over the changing climate, followed by the demand for biodegradable paper shopping bags. Consumers are becoming aware of the use of biodegradable products that are now in excessive use, increasing the sales of kraft paper shopping bags.
Demand for kraft paper shopping bags is increasing as new outlets and food franchises are opening up. These bags come in bleached, unbleached, speciality and recycled. Kraft paper shopping bags are the prominent type of bags amongst the other bags, leading the market to excessive growth, increasing the demand for kraft paper shopping bags.
Key Kraft Paper Shopping Bag Market Takeaways and Projections
- The U.S. is expected to lead the North america kraft paper shopping bag market, projecting the fastest growth in the region between 2022 and 2032
- 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 2032.
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Recent Market Development:
- The Mondi group introduced its new series of eco-friendly paper bags that can be used for small, medium and large sizes, pushing the sales of Kraft paper shopping bags.
- Smurfit Kappa Group has launched its fresh share of packaging like industrial and retail type of paper bags, increasing the sales of kraft paper shopping bags.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of kraft paper shopping bag market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
It also provides a list of leading players and recent development in the global kraft paper shopping bag market. Some of the prominent market players are Smurfit Kappa Group, The Mondi Group, International Paper Company, Novolex Holdings Inc, BillerudKorsnas AB and WestRock Company.
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Future Market Insights (ESOMAR certified 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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