The presence of some organized players and plethora of unorganized ones renders the global plastic bags and sacks market fairly fragmented, finds Transparency Market Research (TMR). The landscape is intensely competitive and over the years the unveiling of new products is likely to raise the ante higher for incumbent companies and top players. A large number of vendors are focused on constantly consolidating their capabilities to stay ahead of others. They are also frequently opting for mergers and acquisitions to get a better hold over the market.
TMR notes that numerous top players are engaged in developing customized products that can meet new and emerging needs of end-use industries to consolidate their shares. Several players are engaged in acquiring small unorganized companies in order to strengthen their positions. Top players operating in the plastic bag and sacks market include Schur Flexibles Group, Hanoi Plastic Bag JSC, Da Nang Plastic Joint Stock Company, Interplast Group, Arihant Packaging, Goglio Group, Ampac Holdings LLC, Alpha Poly Corporation, AEP Industries Inc., Novolex, Berry Plastics Inc., Bischof & Klein GmbH & Co, and Mondi Group.
The global plastic bag and sacks market is projected to expand at a modest CAGR of 3.0% during the forecast period of 2016–2024. The global market stood at US$18.2 billion in 2015.
The key material types for making plastic bags and sacks are bio-degradable and non-biodegradable. Of these, the former holds the leading share in the global market, vis-à-vis volume. However, non-biodegradable materials segment is projected to rise at the most attractive growth rate during the assessment period. The growth is attributed to the extensive uptake of high density polyethylene (HDPE) material.
Request a PDF Brochure with Future Analysis @
Regionally, North America and Europe account for the major demand for plastic bags and sacks. However, relaxed regulatory frameworks in several economies of Asia Pacific will make this regional market to expand at the prominent growth rate during 2016–2024.
The growth of the global plastic bags and sacks market rides on the back of the constant strides being experienced by the retail sector across the world. The market is driven increasingly by the substantially rising demand for minimal packaging for a variety of consumer goods and grocery. The swift pace of urbanization, coupled with the rising share of disposable incomes, especially in emerging economies is a notable factor underpinning the burgeoning demand for consumer goods all over the world. The rapidly rising demand for fast moving consumer goods (FMCGs) has underpinned the staggering rise in various types of retail outlets, thus bolstering the uptake of plastic bags and sacks.
0 comments:
Post a Comment