Global Plastic Bags and Sacks Market Size Worth $18.5 Billion by 2028 at 12.1% CAGR

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20 Apr, 2022, 10:30 ET

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NEW YORK, April 20, 2022 /PRNewswire/ -- As per Zion Market Research study, Plastic Bags and Sacks industry accrued earnings approximately about US$ 8.4 billion in 2021 and is anticipated to gain returns of approximately US$ 18.5 billion by 2028, is slated to record highest gains of nearly 12.1% in timescale from 2022 to 2028. In addition to this, expansion of plastic bags and sacks market in ensuing years is subject to rise in product demand across consumer goods, groceries, clothing & fabrics, and food & beverages. In addition to this, humongous need of convenient packaging is projected to translate into massive growth of plastic bags and sacks industry. Apart from this, need for effectively packaging fresh food items, stationary, and apparel will open new vistas of growth for plastic bags and sacks industry. Furthermore, large-scale requirement for reducing packaging weight will create new growth avenues for plastic bags and sacks industry. Need for cost-effective and affordable packaging will prop up market trends. Humongous necessity of moisture resistance, flexibility, user-friendly products, and wear & tear resistance will increase popularity of product in foreseeable future.

Key Industry Insights & Finding of the Plastic Bags and Sacks Market Reports:

Zion Market Research published the latest report titled as "Plastic Bags And Sacks Market - By Material (Biodegradable And Non-Biodegradable), By Product (Gusseted Bags, T-Shirt Bags, Lay Flat Bags, Rubble Sacks, Trash Bags, Woven Sacks, And Others.), By End User (Institutional, Retail And Consumer, And Industrial), And By Region: Global Industry Perspective, Comprehensive Analysis And Forecast, 2022–2028." into their research database.

Plastic Bags and Sacks Market: Overview

Plastic bags & sacks are also referred to as polybags and are completely made up from thin plastic films. These products are extensively utilized for packing food items, fresh produce, stationery, and apparel. Moreover plastic bags & sacks are transparent, flexible, and possess wear & tear resisting feature. In addition to this, these products also have outstanding moisture barrier features. Reportedly, food & beverages, retail & consumers, and institutional services are few of the key applications of plastic bags & sacks.

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Industry Dynamics:

Plastic Bags and Sacks Market: Growth Dynamics

Rise in demand for plastic bags & sacks from food & beverages, groceries, clothing & apparel, and consumer products will drive market trends. With supermarkets & retail stores majorly printing their brand names on plastic bags & sacks as a part of promotional activity, it is likely that plastic bags and sacks market is set to witness vivified growth within next few years. Moreover, plastic bags & sacs has proved to be a low cost promotional tool for marketing activities and this have paved a way for humongous demand for product in recent years.

Furthermore, humungous need for convenience packaging has facilitated growth of plastic bags and sacks industry. Launching of eco-friendly plastic bags & sacks by reputed firms will prop up market growth in upcoming years. For instance, in June 2019, LyondellBassell industries N.V., a Holland-based Chemical Company, entered into long term commercial agreement with Neste Oyj– an Oil refining & marketing firm based in Finland- for producing plastics from renewable sources such as bio-based polypropylene and bio-based polyethylene.

Plastic Bags and Sacks Market: Restraints

Escalating environmental concerns due to massive use of non-biodegradable material in production of plastic bags & sacks will obstruct growth of bags and sacks market. Apparently, with view of rise in ban on use of plastics in various countries, firms in bag manufacturing business as well as packaging business are substituting plastic bags with paper bags and this has created hurdles in expansion of size of plastic bags and sacks market.

Plastic Bags and Sacks Market: Segmentation

Segmental expansion over forecasting years can be credited to rise in offering of goods to consumers in plastic bags and sacks with a purpose of promoting company brands. Apart from this, massive sale of grocery products, food & beverages, and clothing & apparel in retail shops and supermarkets will drive segmental surge.

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Bio-degradable Plastic Bags and Sacks Market to Expand Notably Over Forecast Period

Growth of the bio-degradable plastic bags and sacks industry over next six years can be credited to rise in use of biodegradable material in production of plastic bags and sacks owing to growing awareness about green environment. In addition to this, strict laws pertaining to use of plastics hazardous to environment as well as to human & animals has prompted need for producing biodegradable plastic bags and sacks, thereby driving bio-degradable plastic bags and sacks market trends.

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List of Key Players of Plastic Bags and Sacks Market:

Key questions answered in this report:

Report Scope:

Report Attribute

Details

Market size value in 2021

USD 8.4 Billion

Revenue forecast in 2028

USD 18.5 Billion

Growth Rate

CAGR of almost 12.5% 2022-2028

Base Year

2020

Historic Years

2016 - 2021

Forecast Years

2022 - 2028

Segments Covered

By Product Type, By Application, and By End Use

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2022 to 2028

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Companies Covered

AEP Industries Inc., Berry Global, Inc., Novolex, AlphaPoly Packaging, Bischof + Klein SE & Co.KG, Mondi plc, Interplast Group Corporation, Ampac Holdings, LLC, and Starlinger Group. Schur Flexibles Holding GesmbH, Gesellschaft GmbH, Arihant Packaging, Hanoi Plastic Bag JSC, Danang Plastic Joint Stock Company, and Goglio S.p.A.

Report Coverage

Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Customization Scope

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Regional Dominance:

Expansion of plastic bags and sacks market in Asia Pacific over forecasting years can be credited to increase in sale of product in retail stores as well as in hypermarkets. Moreover, rising inclination towards low-cost packaging items will outline & trace an effective growth map for plastic bags and sacks industry in Asia Pacific zone. Huge demand for consumer products, apparels, and electronic goods has culminated into massive need for plastic bags & sacks packaging in these sectors, thereby increasing scope of plastic bags & sacks production activities in Asia Pacific. This, in turn, will result into marked increase in product sales leading to huge revenue gains for plastic bags and sacks market in APAC zone.

Global Plastic Bags and Sacks Market is segmented as follows:

Plastic Bags and Sacks Market: By Material Outlook (2022-2028)

Plastic Bags and Sacks Market: By Product Outlook (2022-2028)

Plastic Bags and Sacks Market: By End User Outlook (2022-2028)

Plastic Bags and Sacks Market: By Region Outlook (2022-2028)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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