NEWARK, Del, Nov. 09, 2023 (GLOBE NEWSWIRE) -- The heavy-duty bag and sack market valuation is US$ 12.7 billion in 2023. While in 2022, the market was valued at US$ 12.3 billion. The market is expected to grow at a CAGR of 3.6% from 2023 to 2033. The market size is estimated to reach US$ 18.1 billion by 2033.
Heavy duty bags and sacks are increasingly used in several industries as packaging material. Agriculture, food & beverage, and construction are some of the industries where heavy duty bags and sacks are finding prominence. The shipping industry is another avenue where the market has expanded, as heavy duty bags and sacks are used to secure luggage aboard ships on a regular basis.
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Heavy-duty bags and sacks are popular due to the protection provided. The product helps to protect from UV rays, tears, chemicals, and many other external factors. Producers are looking to enhance the protective qualities of heavy duty bags and sacks. Different blends of polymers are being developed to enhance the resistance factor of the bags and sacks.
While plastic remains a popular material for heavy duty bags and sacks, it also comes with drawbacks. Due to the presence of plastic, bags and sacks are subject to strong regulations. Sustainability standards are becoming commonplace; thus, new products in the market might have trouble passing. Eco-consciousness also affects businesses, who might be hesitant to opt for heavy duty bags and sacks made of plastic.
“Producers are seeking out alternative materials to counteract the threat of plastic becoming increasingly undesirable. Paper and jute are two traditional plastic alternatives. However, companies are also testing recyclable plastic material as well as plastic made from waste. The demand for sustainable bags and sacks thus represents an opportunity in the market,” says a Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Heavy Duty Bags and Sacks Market:
- The heavy duty bag and sack market’s size in 2023 is predicted to be US$ 12.7 billion.
- Despite strong opposition, plastic leads the way in the material segment. In 2023, plastic accounts for 53.4% of the market share by material.
- Ease provided by open mouth bags is winning over consumers. In 2023, open mouth bags contribute 23.1% of the market share by product type.
- India is expected to show fast growth in the market. For the 2023 to 2033 forecast period, the speed of growth in India is estimated to be a positive 6.2%.
- The market is expected to flourish in China at a CAGR of 5.6% over the forecast period.
- Thailand is an Asian country with an anticipated CAGR of 5.1% through 2033.
Competition Analysis of the Heavy Duty Bags and Sacks Market
Manufacturers focus on making products with tough and increasingly resistant materials. Sustainability is also playing a factor in the mindset of the producers. Collaborations are common in the market. Some of the prominent companies in the market include Mondi Group, Berry Global, Inc., LC Packaging International BV, and Muscat Polymers Pvt. Ltd.
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Key Companies in the Heavy Duty Bag and Sack Market:
- Mondi Group
- Berry Global, Inc.
- LC Packaging International BV
- Muscat Polymers Pvt. Ltd.
- Al-Tawfiq Company
- Inteplast Group
- Global-Pak Inc.
- MegaSack Corporation
- Sonoco Products Company
- ProAmpac LLC
- Cromwell Polyethylene Ltd.
- Segezha Group LLC
- Alpha Poly Corporation
- Seevent Plastics Ltd.
- Wooderson Packaging Ltd.
- Nihon Matai Co., Ltd.
Recent Developments in the Heavy Duty Bags and Sacks Market
- In September 2023, Berry Global announced a new line of bags manufactured from recycled ocean plastic.
- In December 2022, Mondi Group teamed up with FRESH!PACKING for a recyclable bag called Fresh!Bag.
- In June 2021, American brand Sonoco Protective Solutions expanded its European capabilities. Sonopost packaging technology was introduced to Europe.
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Key Segments:
By Material:
- Paper
- Plastic
- HDPE
- LDPE
- LLDPE
- PP
- Polystyrene
- Others
- Jute
By Product Type:
- Open Mouth
- Pasted Valve
- Gusset Bags
- Rubble Sacks
- Woven Sacks
- Trash Sacks
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author
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.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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About Future Market Insights (FMI)
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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