Home >> News >> Global Paper Bags Market Projected to Grow At a CAGR of 4.6% during the Forecast Period

Global Paper Bags Market Projected to Grow At a CAGR of 4.6% during the Forecast Period

The latest market report published by Acute Market Reports “Paper Bags Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the Paper Bags market was valued at US$ 4.8 Bn in 2018 and expected to reach US$ 7.3 Bn by 2027 at a CAGR of 4.6% throughout the forecast period from 2019 to 2027.

Market Insights

“Increasing usage for paper bags will spur revenue growth during the forecast period”

Developing interest for smaller pack sizes, expanding utilization of personal care and beauty care products, and convenience in handling are expected to proliferate the worldwide paper bags market. Paper bags are broadly utilized in client merchandise, pharmaceuticals, confectionery, food & beverages, personal use, home care items, and beauty care products. Paper bags are accessible as convey bags, confectionery paper bags, and black bottom paper bags. They are easy to make, easy to utilize, and eco-friendly. Additionally, a growing trend of modernization, expanding individual income, and quick-changing ways of life are anticipated to bolster the worldwide paper bags market growth. Paper bags are the principal needs of modern life. Customers are choosing paper bags over plastic bags, attributing to its eco-friendly properties. Aside from conveying different sorts of products, paper bags can also be utilized for protection and shielding. A rising inclination for paper bags especially in the developed regions is further boosting the market growth.

Industrial Developments

  • In August 2019, Sappi Limited announced the acquisition of Rayonier’s Matane Pulp Mill. Through this acquisition, Sappi’s pulp integration business will get enhanced in the North American and European packaging businesses.

Key Market Movements

  • In 2018, the global paper bags market was valued at US$ 4.8 Bn and is projected to grow to US$ 7.3 Bn by 2027 expanding at a CAGR of 4.6%.
  • Based on the application, the market is classified into food & beverages, pharmaceutical, retail, construction, chemicals, and others. The retail segment dominated the market owing to the increasing consumption of consumer goods.
  • The construction segment is anticipated to expand at the highest CAGR during the forecast period. Owing to the adoption of wall kraft paper bags in cement packaging.
  • Asia Pacific region dominated the global paper bags market in terms of market revenue. This can be associated with the rapidly increasing retail industry in the region, and rising per capita income & spending of the consumers among others in the emerging economies.

List of Companies Covered:

  • DS Smith Plc
  • National Paper Products Company
  • WestRock Company.
  • Oji Holdings Corporation
  • Holmen Group.
  • International Paper Company
  • Hotpack Packaging Industries LLC
  • Paper Works Industries
  • Paper Sacks Factory
  • Kappa Group plc.
  • Sappi Limited

Browse the full report at https://www.acutemarketreports.com/report/paper-bags-market

The Global Paper Bags Market is Segmented into:

Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  US$ Billion
Segmentation  By Product Segment (2017–2027; US$ Bn)
 By Application Segment (2017–2027; US$ Bn)
 By Geography Segment (2017–2027; US$ Bn)

*Complete segmentation list is on the report page


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