Industrial Paper Sacks Market Soars to US$ 5.4 Billion by 2033, Fueled by Environmental Concerns and Sustainable Packaging Initiatives| Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
The advanced greener alternatives to plastic in the form of multiwall paper sacks are helping make packaging solutions more sustainable and eco-friendly. Vendors are introducing new heavy-duty paper and brown paper sacks and are extending their packaging applications.
NEWARK, Del, July 09, 2023 (GLOBE NEWSWIRE) -- The Industrial Paper Sacks Market is anticipated to record a CAGR of 4.2% during the forecast period. The market is expected to hold a share of US$ 3.6 Billion in 2023, while it is anticipated to cross a value of US$ 5.4 Billion by 2033.
The higher penetration of sustainable solutions in businesses and packaging systems is garnering market growth. The government promoting paper packaging as an alternative to plastic is also expanding the market size.
Strong, durable, and multiwall paper bags are gaining traction, while brown paper bags are also in high demand. The FMCG, Pharmaceutical, fashion, and footwear brands are adopting these paper bags for higher sustainability.
The wider industrial usage along with the construction material packaging is driving the market. The government authorities are also supporting the local businesses in producing multiwall paper sacks.
The higher number of product innovations, social infrastructure, and emerging markets are expected to give the industrial paper sacks market a push.
The market in China is likely to lead the industrial paper sacks market in terms of CAGR and market share. The market is expected to record a CAGR of 6.9% during the forecast period. The market growth is attributed to the growing environmental consciousness among people, along with the growing sustainable packaging businesses. The regional market is expected to hold a value of US$ 1.4 Billion by 2033.
The United States industrial paper sacks market is another significant market with an expected CAGR of 3.1% between 2023 and 2033. The regional growth is attributed to the stringent government rules around the use of plastic and increased consumer consciousness. The market is anticipated to reach a value of US$ 991.2 million by 2033.
The unbleached segment is likely to thrive in the grade type category as it is anticipated to record a CAGR of 4.0% between 2023 and 2033. The growth is attributed to factors like the rusty look, better customization options, and economical price.
The pinched bottom open-mouth segment is expected to top the product type category with an expected CAGR of 4.3% during the forecast period. The growth of this segment is fueled by higher consumption.
The key competitors focus on producing durable paper sacks that can carry industrial and construction materials. Key players also focus on using better GSM paper with high-quality processing. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
The key players in the market are Mondi Group, Smurfit Kappa, Klabin S.A, Billerudkorsnas AB, Gascogne Group, Segezha Group, LC Packaging International BV, Simpac Ltd., Edna Group, Essentra plc, Kapstone Paper & Packaging Corp., Rosenflex UK Ltd., Novolex Holdings Inc., Bischof & Klein GmbH & Co. KG, Indevco, Rengo Co. Ltd., and Conitex Sonoco Inc.
Recent Market Developments
- Bischof & Kleisuch GmbH & Co has introduced its convertible packaging for construction materials such as U-pack (45% recycled material) and stand-up pouch (30% recycled material).
- Mondi Group has launched its white sack kraft paper that is in high demand across industries. The packaging offers strength, porosity, and printability.
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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