The global cash and coin deposit bags market
is likely to grow at over 4% CAGR and reach a value of nearly US$ 445
Mn by the end of 2022, according to a new research report by
Transparency Market Research. The report analyses the global cash and
coin deposit bags market for the forecast period 2017-2022 and offers
detailed segment-wise analysis on the basis of material type, end use,
and key regions.
The leading players profiled in the
report include Truseal (Pty) Ltd, KOROZO Ambalaj San. Ve Tic. A.S,
Packaging Horizons Corp, NELMAR Security Packaging Systems Inc.,
Dynaflex Private Limited, Coveris Holdings S.A., ProAmpac LLC, Illinois
Tool Works Inc, Initial Packaging Solutions Ltd., and A. Rifkin Co. A
number of players are focusing on increasing their market presence
through expansion and increased spending on R&D.
According to the report, demand for cash
and coin deposit bags is likely to remain steady on account of demand
for secure and safe transactions from financial institutions. The report
opines that use of cash and coin deposit bags in financial institutions
of Europe is likely to create numerous growth opportunities for
manufacturers during the forecast period. To boost their adoption in
end-use segments, manufacturers are focusing on incorporating advanced
features in their offerings – many latest cash and coin deposit bags are
equipped with tamper-proof films and warning indicators, offering users
a higher degree of security.
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Although the global cash and coin deposit
bags market is projected to grow at a moderate rate, increasing
preference for cashless transactions can impede sales during the
forecast period. Many developing economies are focusing on reducing the
currency in circulation, and moving towards cashless systems, owing to
which demand for cash and coin deposit bags has witnessed a decline.
These factors are likely to pull back the growth of the market during
the forecast period.