Global Retail Bag Industry to 2026
Dublin, December 08, 2021 (GLOBE NEWSWIRE) – The “Retail Bags Market – Growth, Trends, Impact of COVID-19, and Forecast (2021 – 2026)” the report was added to ResearchAndMarkets.com offer.
The retail bags market is expected to grow at a CAGR of 5.2% during the forecast period 2021 to 2026. The rapidly growing number of shopping malls, supermarkets and developed retail areas has significantly fueled the demand for retail bags in the world. Due to the growth of the retail sectors and the increasing choice of customers for environmentally friendly packaging, the market for retail bags is growing exponentially.
The increased use of handbags among working class women globally is expected to remain a key trend. The accelerated growth of established businesses and sectors has fueled demand for goods in countries including India, China, South Korea and Indonesia.
As services like Grubhub, DoorDash, and Uber Eats become more popular, they’ll need useful bags to get food to customers safely. In addition, the development of high-quality, regulatory-compliant plastic take-out bags will increase the competition between paper and plastic for the retail take-out market.
Japan has started asking pharmacies, convenience stores, supermarkets and other outlets to price plastic shopping bags, in line with a global goal of reducing plastic waste to fight marine pollution.
Most retailers have their contemporary bag policies, especially those that use paper bags. As plastic is currently the most eye-catching type of bag, reduced to many bans and restrictions, paper appears to be the reliable choice for in-store shopping bag use for retailers.
The implementation of explicit policies on the use of plastic bags in retail is expected to influence the market. Nonetheless, with the increase in the need for reusable plastic and the use of plastic in some states, the segment is expected to grow during the forecast period.
For example, many restaurants – especially fast food chains such as Wendy’s, Burger King, and McDonald’s – already rely heavily on paper bags, and reusable bags aren’t a reasonable choice for restaurants in general.
High disposable income has increased the demand for shopping bags. However, the shopping bag market is expected to experience lower sales during the forecast period. This is due to the disruption caused by the COVID-19 pandemic across the world. As tourists from several countries may not travel as much as they have in recent years, the growth rate is moderate.
The outbreak of the coronavirus has rolled back the ban on single-use plastics. With the start of 2020 concerned about the risks of the infection spreading, allied consumers of retail products have returned to disposable packaging. At the same time, driven by consumer behavior, bans on disposable items have been delayed in the UK and US. For example, California and Oregon lifted bans on plastic bags, Maine delayed its own ban, and several other US cities and grocery chains have banned reusable bags. These setbacks prompted a sharp turnaround after a long trend by governments to ban or tax the use of plastic bags.
Key market trends
Plastic to have a dominant share in the market
The increase in the use of paper bags for packaging is due to the growing demand for sustainable products by consumers and brands. This is mainly due to the growing awareness of the impact of plastics on the environment and the need to reduce the human race’s dependence on fossil fuels.
The plastic material is commonly used for the production of retail carrier bags. These retail plastic carrier bags are comfortable, affordable and adaptable options for shopping. Plastic retail carrier bags are prevalent in all retail sectors, covering general stores, supermarkets, clothing, general merchandise and specialty stores.
The most common type of plastic used in plastic bags is high density polyethylene (HDPE). Other types of commonly used plastics include low density polyethylene (LDPE) plastic and polypropylene plastic (PP).
Polypropylene, a type of plastic often used to create everyday products such as plastic straws, yogurt pots and hangers, is a major source of ocean pollution, according to the US Department of Energy. What’s more, according to the US Census Bureau, the United States alone exported 1.37 billion pounds of plastic to other countries. Most of these plastics are found in Asian countries like Indonesia, Malaysia, etc.
A growing interest in personal grooming and the growing notoriety of beauty products are driving investment from companies that develop packaging solutions for cosmetic companies.
APAC will experience significant market growth
Asia-Pacific is expected to experience significant growth due to the increasing number of production factories, combined with the growing customer base across the region, contributing to the growth of the retail bags market. For example, according to the National Bureau of Statistics of China 2021, China had a total production capacity of 7.23 million metric tons of plastics, which is one of the most demanded materials for retail bags. .
The growth of the retail sector in the region is also encouraging the need for retail bags. For example, in countries like China, according to the National Bureau of Statistics of China, China’s consumer goods retailing income was about 3.2 trillion yuan in May 2020.
Due to the growing need for pulp in countries like China and India, the APAC region is said to be the fastest growing region. There is an expansion of the transportation packaging division in China coupled with growing consumerism leading to growing demand for paper bags for retail.
Along with this demand for paper bags, the need for recycled paper is also increasing, which has a huge impact on the market. According to Source by China Customs, in 2020, China imported nearly 7 million metric tons of paper from foreign countries, most of which was recycled and used in packaging industries.
There is an increasing rate of exports in the developing logistics sector as corrugated boxes are expected to control the market in this APAC region. Due to the substantial growth of industries, such as cosmetics and fast moving consumer goods (FMCG), the rapidly growing middle class population is believed to meet the need for paper bags and thus supply the market region. retail bags.
Main topics covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Market overview
4.2 Market drivers
4.2.1 Growing Preference for Paper Bags Worldwide
4.2.2 Rising Consumption of Personal Care Products and Cosmetics
4.3 Market restrictions
4.3.1 Restrictions on the use of plastic retail bags
4.4 Industry Attractiveness – Porter’s Five Forces Analysis
4.5 Impact of Covid-19 on the market
4.6 Industry Value Chain Analysis
4.7 Types of Patterns in Retail Bags (Textured, Printed, Plain)
5 MARKET SEGMENTATION
5.1 By type of material
22.214.171.124 Polyethylene (PE)
126.96.36.199 Polypropylene (PP)
188.8.131.52 Other types of plastic (PET, polyester, rPET)
5.1.3 Other types of materials (Jute, cotton, canvas)
5.2 By the end user
5.2.1 Grocery stores
5.2.3 Other end users
5.3.1 North America
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company profiles
6.1.1 Smurfit Kappa Group SA
6.1.2 BioPak Pty Ltd
6.1.3 Mondi SA Group
6.1.4 El Dorado Packaging, Inc.
6.1.5 International Paper Company
6.1.6 Attwood Packing Company
6.1.7 Global-Pak, Inc,
6.1.8 The transport bag company
6.1.9 Welton Bibby and Baron Limited
6.1.10 GreenPack Limited
6.1.11 Coveris Holdings SA
6.1.12 American packing company
6.1.13 IMEX packaging
6.1.14 Atlantique Poly inc.
6.1.15 Novolex Investments Inc.
6.1.16 Arc-en-ciel packaging inc.
6.1.17 Rutan Poly Industries, Inc.
7 INVESTMENT ANALYSIS
8 FUTURE OPPORTUNITIES
For more information on this report, visit https://www.researchandmarkets.com/r/jtw3dp
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