Published: Jul, 2018
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.
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.
Rising Demand for Fast Moving Consumer Goods bolster Uptake
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.
The growth of the market is propelled by the rising demand for flexible packaging for consumer goods in various parts of the globe. The extensive usage of plastic bags and sacks in supermarkets, hypermarkets, and various convenience retail stores in developing countries is supporting the rapid expansion of the market.
Regulatory Curbs on Non-Biodegradable Plastic Containers in Several Nations Glaring Constraints
The declining prices of oil and gas has led to the reduction in prices of petrochemicals used as raw materials for manufacturing plastic bags and sacks. However, the market has been witnessing considerable setbacks due to the numerous regulations in several developing and developed nations curbing the usage of non-biodegradable plastics containers.
Nevertheless, a large number of concerns are put to rest with the advent of bags and sacks made of biodegradable and compostable plastics. Furthermore, the rising awareness about the ecological impacts of the use of these eco-friendly materials is likely to enhance the lucrativeness of the plastic bags and sacks market. Constant advances being made in manufacturing technologies have further improved the attributes of biodegradable packaging opening new, exciting prospects in the global market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Plastic Bags & Sacks Market (Material - Non-biodegradable (HDPE, LDPE, LLDPE, PP, and PS) and Biodegradable (PLA, PHA, and Starch Blends); Product - T-shirt Bags, Gusseted Bags, Lay Flat Bags, Trash Bags, Rubble Sacks, and Woven Sacks; Application - Retail & Consumer (Grocery Products, Food & Beverage, and Clothing & Apparel), Institutional (Hospitality and Hospitals & Healthcare Facility) and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024”.
The global plastic bags and sacks market is segmented based on:
- Starch Blends
- T-shirt Bags
- Gusseted Bags
- Lay Flat Bags
- Trash Bags
- Rubble Sacks
- Woven Sacks
- Retail & Consumer
- Grocery Products
- Food & Beverage
- Clothing & Apparel
- Hospitals & Healthcare Facility
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- North Africa
- Rest of MEA
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