The gusseted bags market is poised to surpass a valuation of US$ 23.2 Billion by 2022, driven by the swift change in consumer inclination towards gusseted bags as a preferred packaging solution over traditional options such as plastic and wooden containers.
According to Future Market Insights (FMI), the gusseted bags market is anticipated to experience a compound annual growth rate (CAGR) of 2.8% during the forecast period from 2022 to 2026, driven by the increasing adoption of gusseted bags in the food and beverage industry. FMI predicts that the Asia Pacific excluding Japan region will emerge as the dominant force in the global gusseted bags market, with the side gusseted segment expected to claim the majority share at 73.3% of total sales from 2022 to 2026.
Known for their flexibility, gusseted bags are lightweight and feature additional material on their sides or bottom, enabling expansion to accommodate bulkier items. This characteristic has led to their widespread adoption in the packaging and storage of various food products, particularly dry goods.
Request Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-4003
Moreover, ongoing advancements in gusseted bag technology are expanding their applications to include packaging and storage of various products such as paints, fertilizers, food grains, and dry food items, further contributing to the market’s growth.
The gusseted bags market is highly competitive, with a large number of players operating in the market. Some of the major players in the market include
- Altapac, Poly Pak Plastics
- ELKAY Plastics
- Associated Bags
- Maco PKG
- Clear View Bag Company
- International Plastic
- Pacific Bag Inc.
- PBFY Flexible Packaging
- TekPak Solutions,
- American Plastics Company
- Others
Competitive Landscape
Top five companies operating in the global gusseted bags market account for nearly 12% of the overall revenue share in 2021, as per FMI.
Key players are focusing on expanding their offering of innovative product packaging solutions by adding novel products to gain competitive edge. Apart from this, some of the manufacturers are aiming at collaboration, merge, and acquisition with other players to strengthen its footprint in the market. For instance,
- In July 2021, Crunch Pak, a U.S.-based fruit and vegetable processing company announced adding gusseted stand-up bags to its list of packaging solutions for packaging its new products such as Sweet Apple Slices. The bags are made of materials that maintains the product freshness and are available in 24 ounce and 14 ounce.
Request Customization: https://www.futuremarketinsights.com/customization-available/rep-gb-4003
One of the key factors driving the growth of the gusseted bags market is the increasing demand for convenient and efficient packaging solutions. Gusseted bags offer a number of benefits over traditional flat-bottomed bags, such as improved stand-up capability, greater capacity, and better product visibility. This makes them an attractive option for a wide range of products, from snacks and candies to pet food and coffee beans.
The gusseted bags market is segmented by product type, application, and geography. By product type, the market is segmented into paper, plastic, and biodegradable gusseted bags. By application, the market is segmented into food and beverage, pharmaceuticals, and consumer goods. By geography, the market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Regional Analysis-
North America is expected to dominate the global gusseted bags market, due to the presence of major players in the region and the high demand for convenient and sustainable packaging solutions. Europe is also expected to be a key market for gusseted bags, due to the increasing focus on sustainability and the growing demand for convenient packaging solutions in the region.
Asia-Pacific is expected to be a rapidly growing market for gusseted bags, due to the increasing demand for convenient packaging solutions and the growing focus on sustainability in the region. The Rest of the World is also expected to be a significant market for gusseted bags, due to the increasing demand for convenient and sustainable packaging solutions in the region.
The gusseted bags market is expected to continue growing in the coming years, driven by the increasing demand for convenient and sustainable packaging solutions. As more and more consumers become aware of the environmental impact of packaging, the demand for gusseted bags is expected to continue growing. In addition, the growing focus on sustainability is expected to drive the development of new, innovative gusseted bags made from biodegradable materials, further boosting the growth of the market.
Inclination for Sustainable Packaging Solutions Favoring the Market Growth
Driven by an increasing consumer consciousness regarding the environmental impact of non-biodegradable plastic waste disposal, the retail packaging industry is undergoing a significant transformation towards embracing eco-friendly packaging solutions.
Furthermore, the enforcement of strict governmental regulations in various countries concerning the use of plastics in packaging is fueling the market demand for eco-friendly gusseted bags. In response to this shift, numerous companies are now prioritizing the use of environmentally friendly materials like paper in the manufacturing of gusseted bags to align with regulatory requirements.
Buy Now/Purchase: https://www.futuremarketinsights.com/checkout/4003
Gusseted Bags Market by Category
By Bag Type:
- Side Gusseted
- Bottom Gusseted
By Material Type:
- Paper
- Polypropylene
- Polyethylene
- Nylon
- Biodegradable Plastics
- Metal Foil
By Thickness:
- < 2 Mil
- 2 – 5 Mil
- > 5 Mil
By Application:
- Coffee & Tea Packaging
- Bakery Product Packaging
- Other Unprocessed F&B Packaging
- Dry Processed F&B Packaging
- Wet Processed F&B Packaging
- Pet Food Packaging
- Consumer Good Packaging
- Other Industrial Applications
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:
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
