Industrial plastic bags: Market introduction
The global industrial plastic bags market is vastly driven by the development of food, pharmaceutical, electrical and electronics industries. To expand geographical outreach, manufacturers are focusing on product innovation and technological advancement by developing their products in packaging market. However, to overcome government stringent regulations manufacturers are focusing on bio-degradable plastic bags as these bags are easy to recycle and do not pose a threat to environment. The industrial plastic bags are mostly used for the transportation industrial products at relatively low cost. The industrial plastic bags are generally termed as ‘single-use bags’ as these plastic bags are used only for short period of time. The industrial plastic bags reduces the weight of goods and materials during transportation over other packaging solutions such as drums, cartons etc. Industrial plastic bags are lightweight, have high elasticity which helps in adhering the weight of the product packed. Industrial plastic bags have excellent barrier properties and are best suited to carry dry products over other packaging bags such as jute bags, paper bags etc.
Industrial plastic bags: Market dynamics
With global industrial packaging growing at a CAGR of over 4% is expected to reach over 80 Bn by the end of forecast period. Increasing demand for food and beverages, grocery, dairy products are expected to fuel the growth of industrial plastic bags market. The factors accentuating the market growth of the industrial plastic bags are rapid industrialization, rising demand of consumer goods, increase in retail outlets etc. Increased traction of industrial plastic bags in humid regions for providing protection against rain, moisture and other liquid contents is expected to propel the demand in industrial plastic bags market. Factors such as abrasion resistance, moisture resistance will drive the growth of industrial plastic bags market. In addition to the barrier properties, industrial plastic bags are easy to open and pack which in turn increases the efficiency of the manufacturers. Furthermore, another factor that is leading to the increase in demand of industrial plastic bags is the growth of healthcare industries and pharmaceuticals and the popularity of using convenient packaging solutions. Industrial plastic bags are recyclable and reusable which helps in driving the market value of industrial plastic bags. Consumer preferences towards bio-degradable industrial plastic bags may incline the manufacturers to focus on innovation and technology. Moreover, reduced prices of crude oil in developing economy is expected to increase the momentum of industrial plastic bags market attributed to cheap availability of raw materials.
However, government stringent policies against using plastic bags may hamper the market share of industrial plastic bags. Furthermore, industrial plastic bags are non-bio-degradable which may affect the eco-system if not disposed of properly.
Industrial plastic bags: Market segmentation
Industrial plastic bags is segmented on the basis of material type, product type and end use.
On the basis of material type, industrial plastic bags can be segmented as
On the basis of product type, industrial plastic bags is segmented as
- Gusseted bags
- Sewn open mouth bags
On the basis of end use, industrial plastic bags is segmented as
- Food and beverages
- Electricals and electronics
Industrial plastic bags: Regional outlook
Industrial plastic bags market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. APEJ region is estimated to account for the majority of market share in industrial plastic bags market due to the growth of food and beverages sectors. North America region is anticipated to register above-average CAGR due to rapid urbanization and growth of retail and supermarket in the region. Western Europe region is expected to register above-average CAGR attributed to the growth of electronics sector. MEA region is expected to attribute below average CAGR due to the stagnant economy.
Industrial plastic bags: Key players
Some of the key players in the field of industrial plastic bags market are Mondi plc, Ampac Holdings LLC, Interplast Group, Dana Poly Inc., Packaging Industries Ltd., Rutan Poly Industries, Inc., New York Packaging & RediBagUSA, Lindamar Industries.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.