Rockville, Nov. 04, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR’s latest released report on recycled paper bags, the global market is set to be worth US$ 2.9 billion by the end of 2022 and is projected to expand at a CAGR of 5.5% between 2022 and 2032.
The rising trend of using eco-friendly products and not harming the environment is creating huge demand for recycled paper bags in the global market. Various industries are promoting the use of recycled paper bags in their packaging, both primary and secondary. Especially retail product packaging and food and beverage packaging are the prime demand creators for recycled paper bags.
Different types of retail formats have been growing rapidly in the past few years and the trend is going to continue over the coming years as well. The rising number of single-person households and immigration of students across the world have led to a significant number of people who prefer ordering food from out rather than cooking at home. This has led to a rise in the demand for food packaging for transit till it is consumed, thereby benefiting recycled paper bag suppliers.
Download Sample Copy of This Report- https://www.factmr.com/connectus/sample?flag=S&rep_id=6813
Key Takeaways from Market Study
- By thickness, 1-ply recycled paper bags holds the largest market share of 41.3% in 2022.
- By bag type, demand for pasted open mouth bags is projected to grow at a CAGR of 6.3% during 2022-2032.
- Among the end users, demand from the commercial sector is projected to expand around 1.7X to reach US$ 3.6 Bn by 2032.
- North America accounts for 28.1% share of the global market in 2022 and is forecasted to reach US$ 1.4 billion by 2032.
“North America will be the largest consumer of recycled paper bags with growing demand from retail and food & beverage packaging industries,” says a Fact.MR analyst.
Increasing Demand for On-the-go Food & Beverage Products
Strong revenue growth is being experienced in the food and beverage sector. Retail establishments of various types, including department shops, supermarkets, convenience stores, etc., have a phenomenal penetration. People are increasingly choosing to eat out rather than prepare meals at home due to the rise in single-person homes and international student immigration.
The construction of several new restaurants throughout the world, particularly takeout and delivery-only establishments, has increased the need for recycled paper bags because of their affordability and environmental friendliness. The end-use market for food and beverage products is predicted to see a sharp increase in demand for recycled paper bags, particularly single-ply paper bags.
The aforementioned factors are expected to contribute to the global market for recycled paper bags expanding 1.7X by the end of 2032.
United States - Prominent Demand Generator of Recycled Paper Bags
The packaging market in the U.S. is one of the fastest growing. The growing usage of recycled paper bags for product packaging and distribution will boost market expansion all across the nation. Growing SMEs are implementing sustainable and affordable packaging solutions, particularly those focused on the production and sale of goods.
Additionally, it is projected that the booming retail sector would alter how the American market grows.
- For instance, the National Retail Federation estimates that U.S. retail sales would increase from US$ 3.8 trillion in 2019 to US$ 4.06 trillion in 2020. Retail sales are expected to increase by 10%–12% in the next few years thanks to e-Commerce.
As the retail sector expands, more recycled paper bags will be needed for client shopping bags as well as for packing and delivery needs.
The market for recycled paper bags in North America is anticipated to grow at a CAGR of 5.6% over the course of the forecast period, reaching US$ 1.4 billion by 2032. The market for recycled paper bags in the United States is anticipated to expand at a CAGR of 5.7% and increase its valuation by 1.8X by 2032.
Get Customization on this Report for Specific Research Solutions - https://www.factmr.com/connectus/sample?flag=RC&rep_id=6813
Market Development
With the aim of enhancing market presence and improving their portfolios, key players are introducing innovative recycled paper bags that have a multiwall feature for strength, customization services, and more.
Companies should focus on expanding their production capacities as product demand is going to rise in future due to high growth in various end-use industries. They should focus more on customization and working with end users to understand their requirements and develop solutions that are application-specific.
Key Companies Profiled:
Novolex, WestRock Company, International Paper Converters Ltd., Prime Time Packaging, United Bags Inc., Luna Packaging LLC, International Paper, Icegreen, Globak PAK Inc., Jet Paper Bags, Daklapack group, Sharper Bags, Gulfeast Paper & Plastic Industries LLC
Segmentation of Recycled Paper Bags Industry Survey
- By Bag Type :
- Sewn Open Mouth
- Pinched Bottom Open Mouth
- Pasted Valve
- Pasted Open Mouth
- Flat Bottom
- By Thickness :
- 1 Ply
- 2 Ply
- 3 Ply
- > 3 Ply
- By End User :
- Commercial
- Agriculture & Agriproduce Packaging
- Building & Construction Product Packaging
- Food & Beverage Packaging and Delivery
- Retail Product Packaging
- Chemical Packaging
- Others (Not Classified Elsewhere)
- Commercial
- Individual / Household
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South-East Asia & Oceania
- Middle East & Africa
Get Free Access of Complete Report – https://www.factmr.com/checkout/6813
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the recycled paper bags market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on bag type (sewn open mouth, pinched bottom open mouth, pasted valve, pasted open mouth, flat bottom), thickness (1 ply, 2 ply, 3 ply, >3 ply), and end user (commercial (agriculture & agriproduce packaging, building & construction product packaging, food & beverage packaging and delivery, retail product packaging, chemical packaging, others), individual/household), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Chemicals & Materials Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals team at Fact.MR helps clients from across the globe with their unique business intelligence needs.
With a repertoire of over a thousand reports and 1 Million-plus data points, the team has analyzed the chemicals industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
Check out more related studies published by Fact.MR Research:
Insulated Paper Bags Market: The insulated paper bags market is growing on the account of wide range of applications in food delivery, food preservation, medicated products, and biomedical materials such as cells, blood, organs in order to protect from heat, light, moisture, shock, and bacterial growth outlook in the long-run.
Tar Paper Market: Tar paper is a paper with heavy grade containing tar. Tar paper is widely used in building construction industry for waterproofing and roofing purposes. Tar paper is manufactured with additives like polyester or fiberglass, which give an additional tensile strength to the tar paper. Tar paper consists of a base which is made from natural materials like wood or polyesters.
Paper Wrap Market: According to the latest report, the paper wrap market saw soaring growth in 2021 with worldwide revenues up by lucrative growth year over year. A new forecast estimates that paper wrap market revenues will nearly double between 2021 and 2031.
Thin Printing Paper Market: Product's environmental impacts are linked to financial performance. Smart management of resources is therefore vital. In the printing and packaging industries, thin papers provide an effective answer to this challenge. Thin paper is the upgraded form of paper that provides less opacity, stiffness, brightness compared to normal paper due to its smoothness, printing results are excellent as compare to normal paper.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Tel: +1 (628) 251-1583
