Kraft Paper Shopping Bag Market Size Analysis
According to a recent survey conducted by ChemView Consulting, the Global Kraft Paper Shopping Bag Market grew at a CAGR of 3.2% between 2017-2021 and is estimated to be US$ 4,512.8 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 3.7% and is expected to reach a valuation of US$ 6,489.8 Mn by 2032 end.
Due to the growing concerns over the changing climate, consumers are becoming more aware of the use of biodegradable products. As a result, they are now choosing biodegradable paper shopping bags compared to traditional kraft paper bags.
GAINING POPULARITY OVER TIME DRIVES THE MARKET
Since paper-based packaging like kraft paper shopping bags has gained fame in recent years, with the up-gradation of packaging ideas where the visual appeal and shelf life provide premier state, kraft paper shopping bags are convenient and durable as compared to other types of paper bags. Cost-effective packaging solution like kraft paper shopping bag, as compared to other packaging product, is expected to create growth opportunities for the kraft paper shopping bag market.
GROWING ENVIRONMENT CONCERT HAMPER THE MARKET GROWTH
Growing environmental concerns regarding deforestation are creating challenges for paper production and ultimately hampering the kraft paper shopping bag market during the forecast period. Rising concerns regarding deforestation are creating difficulties for paper production, eventually affecting the global kraft paper shopping bag market.
The global boom in utility applications to address the coronavirus outbreak of 2021 has slowed the world for several reasons. A large proportion of Kraft Paper Shopping Bag systems were installed in 2020; however, demand for these products has slowed down due to production shutdowns. In addition, Kraft Paper Shopping Bag facilities were rapidly diminishing in 2021’s first and second quarters. This decrease will eventually lead to less expansion of this product shortly
Market Segments Covered in Report
By Material type :
By Thickness :
By Sales Channel :
By End Use :
By Region and Country:
Which Sale Channel is projected to ensure the most traction during the forecast period?
Kraft paper bags are used extensively in shopping malls, hypermarkets, and supermarkets for shopping purposes because of their aesthetic looks and long durability. Products are designed to fit this industry’s requirements and support achieving environmental goals through advanced packaging methods, ensuring safer handling, efficient use of space, and reducing overall environmental footprint.
Why is the Food & Beverage Industry segment expected to expand the fastest during the forecast period?
In 2021, The global demand for kraft paper bags had been on the rise. In addition, a highly organized retail sector across the globe is generating considerable demand for kraft paper bags. Furthermore, the increasing number of food service outlets and the rising popularity of home delivery & online food service platforms are creating ample opportunities for kraft paper bag manufacturers.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
By broadening their product offerings, major firms are employing organic and inorganic development strategies to boost their position in the market. Organic growth includes increasing sales through product improvement as well as the development of new products. Inorganic growth comes from acquisitions or mergers.
A list of some of the key suppliers present in the market are:
Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2032|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Material Type, Thickness, Sales Channel, End Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 3.7%.
With the advancement of packaging ideas where the visual appeal and shelf life provide premier state, paper-based packaging like kraft paper shopping bags has gained popularity in recent years.
Major global Kraft Paper Shopping Bag Market players are Smurfit, Kappa Group, The Mondi Group, International Paper Company, Novolex Holdings Inc, BillerudKorsnas AB, and WestRock Company.
Rising concerns regarding deforestation are creating challenges for paper production, ultimately hampering the global kraft paper shopping bag market during the forecast period.
The Europe region is expected to account for the largest market revenue share in the Global Kraft Paper Shopping Bag market.
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