Packaging Bags Market Reports 2018 Trends, Analysis & Statistics
At a Glance
Steady growth in the market
New materials becoming popular
Opportunities with smart technology
Increasing government regulation
Plastic bag market worth US $18.2 billion in 2015
Paper packaging market worth US $362.7 billion by 2021
Sustainable packaging market worth US $440.3 billion by 2025
Packaging Bags Market Overview
The global plastic bag and sacks market is predicted to grow with a CAGR (compound annual growth rate) of 3% during the period of 2016 to 2024, growing steadily from its value of US $18.2 billion in 2015. The development of customized products to suit customers’ preferences and acquisition of unorganized players are two key strategies adopted by the market leaders to maintain their stronghold over the fragmented market. Plastic bags remain as a common form of packaging as they are very convenient for consumers. Growing demand is driven by rising disposable incomes, advances in biodegradable plastics and increasing demand for consumer goods at grocery stores.
The global paper packaging market, which includes paper bags, was valued at US $286.6 billion in 2015 and is forecast to be worth US $362.7 billion in 2021, with a CAGR of 4.4% during this period. Over 186 million tons of paper packaging was produced in 2015 alone. Paper is one of the most common materials used in packaging and is growing in popularity because it is cost-effective and environmentally friendly. The largest exporter of paper packaging bags is China with a 15% market share, followed by Germany at 14% and the US at 10%.
Increasing awareness of ecological issues
Shifting demand in the materials used
Incorporation of smart technology into packaging
AEP Industries Inc.
Berry Plastics Inc.
DS Smith Plc.
Hood Packaging Corporation
International Paper Company
Schur Flexibles Group
Packaging Bags Insights
Plastic bag bans and taxes
Many countries across the world have begun to phase out the use of plastic bags. Single-use plastic bags have traditionally been given free to customers because they were considered to be a cheap and effective way to transport purchased items. However, many governments are concerned about the use of plastic bags because they require non-renewable resources to produce and impact the environment through littering. Governments all over the world have already taken action to reduce the use of plastic bags by charging a tax for using them or banning them outright. The EU government is the latest to propose a tax on plastic bags, which would of course include all member states. Customers are now shifting to reusable plastic bags or bags made from other materials.
The global market for sustainable packaging has witnessed steady growth in recent years and this trend is set to continue with a predicted CAGR of 7.7% between 2016 and 2025. The market is expected to be worth US $440.3 billion in 2025. Concerns across society about pollution, waste generation and unproductive uses of resources are driving developments in sustainable packaging. More stringent government regulations are pushing manufacturers towards sustainable packaging and growing environmental awareness among consumers is increasing demand.
Technological advancements are continuing to change the way we live and work, and the packaging industry is no exception. The use of new technologies like 3D printing and the Internet of Things (IoT) will be disruptive game-changers for packaging. For example, smart packaging and packaging that is compatible with the IoT is forecast to grow rapidly. The smart packaging and IoT packaging industries are predicted to be worth US $7.8 billion and US $2.2 billion by 2021 respectively.
What are PACKAGING BAGS?
Packaging bags are used by consumers to transport the items they have purchased, usually from the store to the home. Packaging bags are most commonly made from plastics or paper. Growing environmental concerns and government regulations have caused the popularity of paper bags to increase in recent times. In the future, smart technologies will be integrated into packaging bags.