Paper Bags Packaging Market is Anticipated to Attain 4.3% CAGR by 2023 | Industry Top Companies Novolex, WestRock Company, Ronpak, DS Smith, Holmen Group, Georgia-Pacific, United Bags

As per Market Research Future (MRFR), the Global Paper Bags Packaging Market is expected to grow at a 4.3% CAGR from 2017 to 2023 (forecast period). The report analyses the effects of the COVID-19 pandemic on the global paper bags packaging market and offers a thorough and reliable estimation of the future volatility of demand over the forecast period.

Innovation plays a significant role in the development of the global paper bags packaging market. Consequently, advancements in packaging technology have persuaded companies to innovate instead of sticking to conventional packaging methods. In addition, many businesses depend on product designs in order to prosper in a competitive market. Companies invest more in packaging innovation than on production costs to improve the performance of the packaging technique.

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Notable players in the global paper bags packaging market include Hotpack Packaging Industries LLC (Dubai), National Paper Products Company (Saudi Arabia), Novolex (U.S.), International Paper Company (U.S.), Smurfit Kappa Group PLC. (Ireland), WestRock Company (U.S.), B&H Bag Company (U.S.), Ronpak (U.S.), DS Smith Plc. (U.K.), OJI Holding Corporation (Japan), Holmen Group (Sweden), Paper Sacks Factory (UAE), Georgia-Pacific LLC. (U.S.), United Bags, Inc. (U.S.), and Hood Packaging Corporation (Canada).

Market Dynamics

Factors that cause market growth include booming retail in developed economies, growing penetration of the retail industry in emerging markets, advanced innovation in product design, and a large customer base in retail sales.

COVID-19 Impact on the Global Paper Bags Packaging Market

Breakthrough technologies arise and rapidly overpower existing technologies. As a result, most companies focus on diversifying their business to minimize risks and increase profits. The COVID-19 pandemic left much of the industry verticals with an uncertain future. However, the global packaging industry has not been as impacted by the COVID-19 pandemic as opposed to other industries. Increasing environmental issues in the packaging industry about the use of plastics has led to a shift in customer preferences towards paper-based packaging to minimize the carbon footprint on the planet. In the food industry, the supply of packaged food by restaurants and NGOs contributes to an optimal supply chain of food items to customers. The industry is expected to run at full speed as a result of the storing of goods by the customer during the COVID-19 lockdown. In addition, the rising demand for consumer products during the Coronavirus pandemic is also anticipated to propel the growth of the paper bag packaging market.

Market Segmentation

The global market for paper bags packaging has been segmented based on product and application.

By product, the global paper bags packaging market has been segmented into flat paper bags, multi-wall paper sacks, and others. Multi-wall paper sacks reported the highest market share in 2016. Such paper bags are sturdy and durable and are also used to pack dry and forms of materials such as dry chemicals, cement, etc. There are many types of multi-wall paper bags available in the market, like multi-wall paper over poly, sewn open mouth bags, pinch bottom open mouth bags, and pasted valve bags.

Based on application, the global paper bags packaging market has been segmented into food & beverage, pharmaceutical, retail, construction, chemicals, and others. Retail leads the application segment. High demand for consumer products and the growth of shopping malls and consumer stores in rural and urban areas will eventually increase the demand for paper bags. Construction is another significant industry application segment. Multi-wall Kraft paper sacks are used for cement packaging. Consequently, demand for cement is rising with the expanding construction sector, which has a positive effect on the development of the industry.

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Regional Analysis

Region-wise, the global paper bags packaging market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

North America dominates the global paper bags packaging market. High demand for packaged food in this area is boosting the market growth. The U.S. held the most substantial market share in the North American region. Moreover, the growing preference for hygienic packaging and the high growth of the pharmaceutical industry in the North American area is fueling the development of the market. Europe is another major market in terms of demand for paper bag packaging and is predicted to contribute positively to market growth during the forecast period. Europe has a vital role in the innovation and development of personal care, hygiene, and beauty products. Growing emphasis on sustainability and increased demand for consumer-friendly goods that are lightweight and easily transportable are major factors propelling the paper bags packaging market’s growth.

The Asia Pacific region is anticipated to grow at the highest CAGR in the forecast period. Rapid growth in the packaging industry in the Asia Pacific region is a crucial driver of market growth. Rising industrial development and growing urban population in developing countries further fuel market growth. Japan, China, India, Australia, and Indonesia are the most significant contributors to the Asia Pacific industry. China has the most substantial share of the regional market due to rapid growth in urbanization and industrial development.

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