The global paper-based consumer bags market is on track to experience significant growth in the coming years, according to research by Future Market Insights. In 2022, the market is expected to reach a valuation of US$ 3.1 billion, and it is projected to expand at a Compound Annual Growth Rate (CAGR) of 4.7% to reach US$ 4.9 billion by 2032. This growth is driven by the increasing demand for eco-friendly packaging solutions, particularly among fashion brands, as consumers and industries become more environmentally conscious.
Among the capacity segments, the 1-5 kg segment is projected to create substantial growth opportunities for the global paper-based consumer bags market. The growing number of consumers opting for shopping in this capacity range is expected to drive the segment’s expansion, reaching 1.9 times its current market value during the forecast period.
The research conducted by Future Market Insights estimates that the global paper-based consumer bags market revenue amounted to US$ 3.0 billion in 2021. With a rising number of young consumers worldwide engaging in shopping activities, the market is predicted to reach US$ 4.9 billion by 2032, displaying a steady CAGR of 4.7% throughout the forecast period.
Key Takeaways:
- The global paper-based consumer bags market is projected to grow from US$ 3.1 billion in 2022 to US$ 4.9 billion by 2032, at a CAGR of 4.7%.
- The 1-5 kg capacity segment is expected to experience significant growth opportunities, reaching 1.9 times its current market value during the forecast period.
- The demand for eco-friendly packaging, especially among fashion brands, is driving the growth of the paper-based consumer bags market.
- The market witnessed a growth rate of 3.9% during 2015-2021, reaching US$ 3.0 billion in 2021.
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Competitive Landscape
The key players operating in the paper-based consumer bags market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent key developments by the leading players are as follows –
- In May 2022, Smurfit Kappa Group plc, an integrated manufacturer of paper based packaging products, announced the acquisition of Atlas packaging. Atlas packaging is an independent corrugated packaging provider.
- In April 2022, WestRock Company, a leading provider of differentiated paper and packaging solutions, announced a partnership with Recipe Unlimited to implement a suite of recyclable paperboard packaging.
Key Players:
- WestRock Company
- Hutamaki Oyj
- Novolex Holdings LLC
- Ronpak Inc.
- Mondi Group
- Amcor Ltd
- International Paper Company
- Smurfit Kappa Group
- Welton Bibby And Baron Limited
- ProAmpac LLC
- Gerhard Schürholz GmbH
- Toybe Global Packaging
- AB Group Packaging
- Smith Anderson Group Ltd.
- Milhe & Avons
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Paper-based Consumer Bags Market by Category
By Material, Paper-based Consumer Bags Market is Segmented as:
- Brown Kraft Bags
- White Kraft Bags
By Bag Type, Paper-based Consumer Bags Market is Segmented as:
- Sewn Open Mouth Bags
- Pinched Bottom Open Mouth Bags
- Pasted Valve Bags
- Pasted Open Mouth Bags
- Flat Bottom Bags
By Capacity, Paper-based Consumer Bags Market is Segmented as:
- Less than 1 Kg
- 1-5 Kg
- Above 5 Kg
By Region, Paper-based Consumer Bags Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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About FMI
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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