Global Paper Bags Packaging Market - Overview
Paper Bags packaging refers to packaging converted out of flexible paper sheets to be used across industries. Paper bags are made from Kraft paper or sack papers and have wide range of applications. Paper bags give customers a sustainable option to carry their purchases home. These bags are durable, lightweight, and customizable to meet products as well as customer’s specific demand. It come in various product types; multiwall paper sacks, flat paper bags, bags with handles and others. The Global Paper Bags packaging Market is growing with the rapid pace; mainly due to the increase in consumption of packaged and processed food.
According to a recent study report published by the Market Research Future, The global market of Paper Bags Packaging is booming and expected to gain prominence over the forecast period. The Global Paper Bags Packaging market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value during the estimated period (2017 – 2023).
Growth in retail sector is major factor driving the growth of the market. Increasing the number of mall developments and growing concentration of supermarkets offer opportunities in the sector. Additionally, various supportive government initiatives fuelling the growth of the market. Paper bags are cost effective, easy to form, easy to use, and very easily recyclable, and these features grab the attention of manufacturers and consumers towards paper bags packaging style. Whereas, fluctuating raw material prices are expected to pose challenges for the market.
DS Smith Plc. (U.K.), International Paper Company (U.S.), WestRock Company (U.S.), OJI Holding Corporation (Japan), Smurfit Kappa Group Plc. (Ireland), Georgia-Pacific LLC. (U.S.), Industrial Development Company (INDEVCO) sal (Lebanon), Holmen Group (Sweden), and Hood Packaging Corporation (Canada) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Paper Bags Packaging Market.
Global Paper Bags Packaging Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Manufacturers operating in the market strive to deliver innovative solutions that improve the design and manufacturing processes of business around the world. Focusing upon the competitive edge, Paper Bags Packaging strive to develop products that can deliver optimal efficient, convenience and reliability. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality. Manufacturers strive to develop their product portfolio with a wide range of Paper Bags Packaging for every application.
In March 2017, Hotpack Packaging Industries, has announced an investment of USD 61 million (GBP 50 million) to set up facility in Wales, U.K. This facility will be equipped with the latest in packaging and manufacturing technologies. Wales facility will be established as the UK & European head office and manufacturing facility and will create 250 jobs in the region.
In April 2017, Oji invests USD 30 Million in New Zealand paper-bag converting facility. The new converting line can produce 48 million, 25kg dairy and food powder bags per year, bringing the plant's total annual production to 100 million bags.
In June 2017, Imperial Bag & Paper Co., LLC one of the largest distributors of disposable food service and janitorial supplies in North America has has completed the acquisition of Dade Paper & Bag Co. The new firm will be known as Imperial Dade. This acquisition will bring the revenue of the combined business to over USD 1.0 billion and will expand its presence in key regions.
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