Plastic Bags & Sacks Market to Record Ascending Growth by 2024

This report provides forecast and analysis of the plastic bags & sacks market on the global and regional levels. It provides historical data of 2015 along with forecast from 2016 to 2024 in terms of revenue (US$ Mn) and volume (‘000 metric tons). The report also includes macroeconomic indicators along with an outlook on plastics consumption globally. It includes drivers and restraints of the plastic bags & sacks market and their impact on each region during the forecast period. The report also comprises the study of current issues with end users and opportunities for plastic bags & sacks manufacturers. It also includes detailed pricing analysis by material type and value chain analysis with a list of vendors/suppliers and industry stakeholders at each node in the value chain.

In order to provide users of this report with comprehensive view of the market, we have included detailed competitiveness analysis and company players with unique selling propositions. The dashboard provides detailed comparison of plastic bag manufacturers on parameters such as operating margin, unique selling propositions, collective market share, and geographic concentration. The study encompasses market attractiveness analysis, by material type, product type, application type, and region.

The report includes consumption of plastic bags & sacks and the revenue generated from sales of plastic bags & sacks in all regions and important countries in these regions. By material, the global plastic bags & sacks market has been segmented into biodegradable and non-biodegradable. Biodegradable segment is further sub-segmented into polylactic acid (PLA), polyhydroxyalkanoates (PHA), starch blend, and others. Non-biodegradable segment is sub-segmented into high density polyethylene (HDPE), low density polyethylene (LDPE), linear low density polyethylene (LLDPE), polypropylene (PP), polystyrene (PS), and others.

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By product type, the market is segmented into T-shirt bags, gusseted bags, lay flat bags, trash bags, rubble sacks, woven sacks, and other bags. On the basis of application, the global plastic bags & sacks market is segmented into retail & consumer, institutional, and industrial. Retail & consumer segment is further sub-segmented into grocery products, food & beverage, clothing & apparel, and others. Retail & consumer application segment is further sub-segmented into grocery products, food & beverage, clothing & apparel and others. Furthermore, institutional segment is sub-segmented into hospitality, hospitals & healthcare, and others.

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Plastic Bags & Sacks Market – Rising Demand for Fast Moving Consumer Goods bolster Uptake

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.

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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.

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Plastic Bags & Sacks Market – A cutting-edge technology,industry survey and new business opportunities 2024

According to a recent study by a group of professional market research analysts at Transparency Market Research (TMR), the global plastic bags and sacks market is high fragmented and the competition is getting stiffer, with introduction of new products. Most of the vendors operating in this market have full capabilities, and regularly indulge in mergers and acquisitions to strengthen their position. Some of the key vendors identified by the TMR report that are currently functioning in the global plastic bag and sacks market are Mondi Group, Bischof & Klein GmbH & Co, Berry Plastics Inc., Novolex, AEP Industries Inc., Alpha Poly, Ampac Holdings LLC, Goglio Group, Arihant Packaging, Interplast Group, Da Nang Plastic Joint Stock Company, Hanoi Plastic Bag JSC, and Schur Flexibles Group.

As per the projections provided by the TMR report, the global plastic bag and sacks market will increment the demand at a moderate CAGR of 3.0% during the forecast period of 2016 to 2024, growing steadily from its evaluated worth of US$18.2 bn in 2015. Development of customized products based on end-users preferences and acquisition of unorganized players are two key strategies adopted by the market leaders to maintain their stronghold over the fragmented market.

 

LLDPE and LDPE Sub-segments Projected for Healthy Growth

Based on material, the TMR report segments the global plastic bags and sacks market into biodegradable and non-biodegradable. While biodegradable segment is further divided into polyhydroxyalkanoates (PHA), polylactic acid (PLA), and starch blend resin, non-biodegradable segment is bifurcated into low density polyethylene (LDPE), high density polyethylene (HDPE), polypropylene (PP), linear low density polyethylene (LLDPE), and polystyrene (PS). In the market in its present scenario, non-biodegradable accounts for the most prominent share of demand in the global plastic bags and sacks market in terms of volume, although biodegradable segment is projected for the best growth rate during the forecast period. Among the biodegradable plastics and sacks segment, HDPE sub-segment continues to serve the maximum demand, although LLDPE and LDPE sub-segments are anticipated to gain incremented demand in the near future.

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Based on product, the report segments the global plastic bags and sacks market into gusseted bags, trash bags, t-shirt bags, lay flat bags, woven sacks, and rubble sacks, while application-wise, the market has been bifurcated into retail and consumer including grocery products, food and beverages, and clothing apparel, and institutional, including hospitals and healthcare facility and hospitality.

Geographically, the report takes stock of the plastic bags and sacks market in the regions of Europe, Asia Pacific, North America, Latin America, and The Middle East and Africa. While Europe and North America currently serve the maximum demand, stringent environment regulations in various countries in these parts are expected to considerably obstruct the demand for non-biodegradable plastic bags and sacks, and force the vendors to innovate for bio-degradable products. Asia Pacific, on other hand, has slightly flexible environmental regulations, and hence is projected to expand the demand at most prominent rate during the forecast period of 2016 to 2024.

Rising Disposable Income Driving Demand

Plastic bag remain as common form of minimized packaging for consumers across the globe, as it slender raw material in comparison to cartoons, boxes, and jars. Factors such increasing disposable income among the urban population, improvement in global economic performance, advancements in biodegradable plastic bags and sacks, and increasing demand for consumer goods and grocery are some of the key factors driving the demand in the global plastic bags and sacks market.

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