Kraft Paper Shopping Bag Market

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.

Market Dynamic

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.

COVID-19 Impact

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 :

• Solid Unbleached Board
• Solid Bleached Board
• Virgin Bleached Board
• Others

By Thickness :

• 2 ply
• 2 & 3 ply
• Above 3 ply

By Sales Channel :

• Manufacturers
• Distributors
• Retailers
• Hypermarkets
• Specialty Stores
• Convenience Stores
• Warehouse/Wholesale Clubs
• E-retail

By End Use :

• Food & Beverage Industry
• Retail
• Homecare & Personal Care
• Healthcare & Pharmaceutical
• Agriculture
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• In 2021, the North American market held a sizeable revenue share of 33.4%. Increasing demand for kraft paper bags, a reusable and biodegradable packaging material, can be attributed to North America’s large food and beverage industries.
• In India, where paper-based packaging is still rampant, the kraft paper bag has caught up with its more wasteful and time-consuming counterparts. The larger urban population and growing disposable income of the middle-class group led to the high adoption of kraft paper bags, especially in India and China. This is projected to propel the demand for kraft paper bags.

Competition Analysis

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:

• Smurfit Kappa Group
• The Mondi Group
• International Paper Company
• Novolex Holdings Inc
• BillerudKorsnas AB
• WestRock Company

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.