Multiwall Paper Bags Market Revenue Share, Growth Factors, Trends, Analysis & Forecast, 2022–2028
The global Multiwall Paper Bags market size is expected to reach USD 16.3 billion by 2028 at a CAGR of 3.8%, according to a new report by Reports and Data. Increasing usage of Multiwall Paper Bags across the food & grains, agriculture, buildings & construction, pharmaceutical, chemical, and retail & e-commerce industries is one of the most fundamental factors accountable for the growth of the global Multiwall Paper Bags market. The global market growth is expedited by the constant rise in construction activities around the world, especially in developing regions like India, technological advancements in packaging solutions, the expanding transportation & logistics sector, and the growing import and export of agricultural produce, food & beverages, pharmaceuticals, and industrial raw materials.
Multiwall Paper Bags are
high-performance shipping bags, usually made of kraft paper or
high-quality plastic. These bags are widely used in numerous end-use industries
for the safe storage and transportation of powder materials like flour, foods
and grains, seeds, building raw materials like cement, pharmaceutical goods,
fertilizers, pesticides, animal fodder, etc. The various protective layers of
this type of packaging are made of heavy-duty kraft paper/cardboard or
high-performance plastic films, which are strong and durable and extend the
shelf life of the product in transit. Moreover, Multiwall Paper Bags provide
resistance to moisture and heat, protect against damage, and does not allow
rodents and insects to penetrate. These bags are characterized by robust
flexibility, elasticity, high tensile strength, enhanced durability, and wear
& tear resistance. However, the global Multiwall Paper Bags market growth
is limited due to the increasing environmental concerns regarding the use of
plastic bags and stringent government norms against their disposal.
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Leading companies operating in the market
are:
·
Berry Global Inc
·
Mondi Group
·
El Dorado
Packaging, Inc
·
Lincon Polymers
Pvt. Ltd
·
Sonoco Products
Company
·
ProAmpac
Holdings Inc
·
Bag Supply
Company, Inc
·
Hood Packaging
Corporation
·
NNZ Group
·
LC Packaging
·
United Bags, Inc
·
Material Motion,
Inc
·
Commercial
Packaging
·
Langston
Companies, Inc.
Key Highlights of the Report:
- Based on the material type, the plastic segment is poised to hold
the highest revenue share in the global Multiwall Paper Bags market over
the forecast timeline. The escalating demand for multiwall plastic bags
across the food & grains, agriculture, retail & e-commerce,
buildings & construction, and pharmaceutical industries, owing to
their lightweight, cost-efficiency, and flexibility, is a pivotal aspect
of this segment’s growth.
- In terms of application, the food & grains segment led the
global Multiwall Paper Bags market in 2020, retaining the largest market
value. A significant rise in the global population, the subsequently
growing demand for food, the flourishing agricultural sector, and
technological innovations in agricultural practices are the crucial
parameters fueling this segment’s growth.
- The Asia Pacific region is estimated to dominate the global Multiwall
Paper Bags in the upcoming years, accounting for the largest market share.
A constant rise in the region’s population, skyrocketing demand for
packaged food, expanding workforces, and the booming agricultural and
construction industries, specifically in developing countries like China
and India, are the key Asia Pacific market growth drivers.
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Market Dynamics:
The packaging sector has
significantly advanced in the recent years and is expected to register steady
revenue growth over the forecast period owing to rapid innovations in medical
technology, increasing investments, rising healthcare expenditure and high
adoption of advanced products and systems. Factors such as rising prevalence of
chronic diseases such as diabetes, cancer, cardiovascular diseases, and
neurological disorders across the globe, rising cases of coronavirus, improving
healthcare infrastructure and research facilities, and increasing adoption of
remote patient monitoring services and home care settings are expected to fuel
global market revenue growth over the forecast period. In addition, increasing
number of hospitals and ambulatory care centers worldwide, high demand for
personalized medicine, increasing investments in drug discovery and growing
investments by public and private sectors are expected to drive global market
growth in the coming years.
The report also offers
detailed insights about market segmentation based on type, application and
regional bifurcation:
By Material Type (Volume, Kilo Tons;
Revenue, USD Billion; 2018-2028)
- Paper
- Plastic
By Layer (Volume, Kilo Tons; Revenue, USD
Billion; 2018-2028)
- 2-ply
- 3-ply
- others
By Application (Volume, Kilo Tons;
Revenue, USD Billion; 2018-2028)
- Agriculture
- Food & Grains
- Buildings & Construction
- Retail
- Pharmaceuticals
- Chemicals
- Others
Regional scope:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Benefits of Buying the Global Multiwall
Paper Bags Report:
- Comprehensive analysis of the changing
competitive landscape
- The report offers an 8-year forecast and
assessment of the Global Multiwall Paper Bags Market
- Helps in understanding the key product segments
and their estimated growth rate
- In-depth analysis of market drivers,
restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Multiwall
Paper Bags Market
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