Future Market Insights Global and Consulting Pvt. Ltd.
By 2034, the sales revenue of foodservice paper bag is projected to be worth US$ 1293.3 million. Competitive Analysis of Leading Foodservice Paper Bag Producers with Focus on Novolex Holdings LLC, WestRock Company, Huhtamaki Oyj, and Others
NEWARK, Del, April 03, 2024 (GLOBE NEWSWIRE) -- The global foodservice paper bag market size is poised for significant growth, attaining US$ 953.1 million in 2024. The sales revenue of foodservice paper bag is expected to witness a CAGR of 3.1% from 2024 to 2034. By 2034, the demand for foodservice paper bag is anticipated to reach a valuation of US$ 1293.3 million.
Future growth is anticipated, propelled by the government's rules, the booming foodservice industry, and the increased awareness of environmental issues. The foodservice industry's strong growth is fueled by several causes, such as consumers' growing inclination towards environmentally friendly packaging options, strict policies that encourage sustainability, and the growing demand for delivery services.
The foodservice sector initially utilized conventional plastic bags when distributing food products to customers. Global demand for foodservice paper bags is expected to expand due to the change towards sustainable practices prompted by government initiatives and plastic usage constraints.
Growing demand for ecologically friendly foodservice paper bags, is expected to accompany the proliferation of food service outlets. This aligns with the foodservice paper bag market increasing inclination toward environmentally friendly solutions.
Regional Outlook:
Due to the region's vibrant food delivery culture and the application of stringent environmental regulations, foodservice paper bag adoption is on the rise throughout Asia Pacific.
Foodservice businesses in Europe are adopting more recyclable and biodegradable packaging options to lessen their environmental effect, which encourages demand for foodservice paper bags.
Due to stricter laws, consumer desire for environmentally friendly packaging, and the growth of the food delivery industry, the adoption of foodservice paper bags is prevalent in North America.
“Growing demand for environmentally friendly packaging options is expected to propel significant expansion in the foodservice paper bag market. Government rules and rising environmental consciousness act as major forces shaping market dynamics of foodservice paper bag.” says Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
In the material category, the brown kraft segment to acquire a market share of 82.9% in 2024.
The restaurants segment in the end use category to grab a share of 50.7% in 2024.
From 2024 to 2034, the India biodegradable paper bag market is projected to strengthen at a 6.7% CAGR.
China restaurant paper bag market is expected to surge at a CAGR of 5.9% through 2034.
Thailand foodservice paper bag industry anticipates flourishing at a CAGR of 5.5% from 2024 to 2034.
The Spain foodservice paper bag market is expected to evolve at a CAGR of 3.5% between 2024 and 2034.
Between 2024 and 2034, the Japan biodegradable paper bag market is projected to evolve at a CAGR of 2.6%.
The United Kingdom foodservice paper bag market is expected to experience expansion at a CAGR of 2.6% through 2034.
Through 2034, the United States eco-friendly paper bag market is expected to expand at a CAGR of 2.4%.
The foodservice paper bag market in Canada is forecast to rise at a CAGR of 2.1% until 2034.
The eco-friendly paper bag market in South Korea is forecast to rise at a CAGR of 2.1% until 2034.
The Germany foodservice paper bag market is projected to exhibit growth between 2024 and 2034 at a CAGR of 2.0%.
The food delivery paper bag market in Italy is expected to rise at a CAGR of 1.8% until 2034.
The France takeout paper bags industry anticipates flourishing at a CAGR of 1.6% from 2024 to 2034.
Competitive Landscape:
Prominent foodservice paper bag vendors are attempting to grow their facilities to increase their capacity. Several key foodservice paper bag providers use the merger and acquisition approach to bolster and expand their resources. These food service paper bag manufacturers are concentrating on creating cutting-edge paper bags to increase their market shares.
Novolex Holdings LLC announced in August 2022 the introduction of novel paper bags for restaurants and stores to provide more secure delivery. The paper bag features a flat bottom to keep objects safe, a wide opening for easy loading, and strong paper twist handles for dependable and simple carrying.
WestRock Company invested US$ 47 million at its Claremont consumer factory in March 2022, expanding its production capacity.
Huhtamaki Oyj purchased Portland-based Smith Anderson Group Ltd. in January 2022. The company is based in Eastern Europe and produces paper bags.
Key Segments:
By Material Type:
Brown Kraft
White Kraft
By Bag Type:
Handle Bags
Non-handle Bags
By End User:
Restaurants
Online Food Delivery
Institutional
By Region:
North America
Latin America
Europe
South Asia
East Asia
Middle East and Africa
Oceania
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
