New York, United States, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Retail carry bags are utilized in the retail industry to assist customers. Since the introduction of reusable shopping bags, the market for retail carry bags has grown significantly. Retailers prefer plastic carry bags due to their user-friendliness, cost-effectiveness, and compact storage. Biodegradable carry bags dominate the retail bags market. Prioritize the production of eco-friendly, waste-reducing carry-on bags. Over time, new types of shopping bags have been created for a variety of purposes. Printing companies are developing fashionable shopping bag designs to facilitate consumer shopping. The public's perspective regarding the use and recycling of wholesale shopping bags has shifted. Currently, consumers are gravitating toward paper and reusable bags. Reusable shopping bags are beneficial for both consumers and businesses. They benefit the environment and promote the company's brand effectively.
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Preference for Paper Bags Propels the Market for Retail Bags
According to Straits Research, “The global retail bags market size was valued at USD 15.55 billion in 2021. It is expected to reach USD 23.7 billion by 2030, growing at a CAGR of 5.4% during the forecast period (2022–2030).” The use of paper bags as packaging has resulted in customers' and brands' demand for eco-friendly goods. The primary motivating factors are the need to reduce humanity's reliance on fossil fuels and the growing awareness of plastics' adverse environmental effects. 70% of consumers polled by the European Commission supported banning single-use and non-biodegradable grocery bags. Almost 79% of consumers opted for paper bags, whereas 80% opted for biodegradable grocery bags. Paper has replaced plastic shopping bags as a more practical alternative. According to a report published in 2020 by the UN Environment Programme, approximately 150 nations have either imposed tariffs or outlawed single-use plastic bags.
Compared to alternatives such as jute and cotton bags, paper bags are less expensive and offer more printing options, aiding paper bags tremendously. Using paper bags is a way to demonstrate concern for the environment. Utilizing packaging made from renewable, recyclable, and biodegradable materials, reducing the use of non-biodegradable shopping bags, and promoting environmental education will ultimately benefit any organization. The IVL Swedish Environmental Research Institute conducted a study on the greenhouse gas emissions from manufacturing various paper and plastic bags. Low-density polyethylene (LDPE) bags made from renewable or recycled LDPE were found to have a lower GWP (global warming potential) than paper bags made from virgin or recycled fibers. Given these benefits, the market is growing.
Increased Consumption of Personal Care Products and Cosmetics Create Myriad Market Opportunities
Retail bag sales are affected by dynamic forces and are dependent on the global cosmetics market. Although different materials are anticipated to be utilized, the demand for cosmetic products is expected to increase the demand for packaging. The need for beauty products and the growing interest in personal grooming encourage cosmetic packaging suppliers to invest capital. Women constitute the majority of cosmetic product consumers, as they are more likely than men to purchase cosmetics. According to World Bank data, the global population of women increased from 3.63 billion in 2015 to approximately 3.76 billion in 2018.
Recently, the demand for men's grooming products has increased significantly. Men spend more on personal care due to rising disposable income and a less stringent beauty standard. The increasing global demand is anticipated to fuel the market's expansion during the forecast period. The requirement for packaging suitable for the entire customer experience, including delivery, strongly correlates with the rising demand for cosmetics. Increasing consumer awareness of plastics, especially packaging and single-use plastics, is observed.
Regional Insights
Asia-Pacific will command the market, expanding at a CAGR of 5.9% over the forecast period. Due to rising consumption and a quickly growing client base, the Asia-Pacific area is expected to enjoy significant expansion, which will increase the use of retail bags. The National Bureau of Statistics of China estimates that in May 2020, retail sales of consumer goods in countries such as China totaled approximately CNY 3.2 trillion. This region is anticipated to grow more quickly because of the increased demand for paper pulp in nations like China and India. Due to the expansion of the transit packaging market in China and the country's rising consumerism, retail paper bags are in high demand.
European retail bags industry share will grow at a CAGR of 5.6% by 2030. The growing awareness of waste generation, environmental damage, and negative consequences caused by plastic items and packaging in developing nations may create more opportunities for using paper bags. After years of deliberation, a determination was made. As per a multi-step plan, the European Union outlawed single-use plastic products in 2021. However, these new laws did not apply to supermarket plastic bags. In France, single-use plastic bags were banned in 2017, and alternatives to plastic bags and other single-use packaging became popular in Britain. Following the law by the German Bundesrat and parliament, the German Federal Government endeavored to immediately ban the use of plastic bags in supermarkets. The country planned a six-month transitional period during which supermarkets were permitted to sell their remaining stock. Many retailers have begun offering packaging alternatives just as useful as plastic bags.
Key Highlights
- By material type, the global retail bag market includes Plastic, Paper, and Others. The Plastic section is projected to advance at a CAGR of 4.5% and hold the largest market share over the forecast period.
- By end-user, the global retail bag market includes Grocery Stores, Food Services, and Others. The Grocery Store section will hold the largest market share, growing at a CAGR of 4.8% over the forecast period.
Competitive Players in the Market
- Smurfit Kappa Group PLC
- BioPak Pty Ltd
- Mondi Group PLC
- El Dorado Packaging Inc.
- International Paper Company
- Attwoods Packaging Company
- Global-Pak Inc.
- The Carry Bag Company
- Welton Bibby and Baron Limited
- GreenPack Limited
- Coveris Holdings SA
- American Packaging Corporation
- IMEX Packaging
- Atlantic Poly Inc.
Market News
- In 2022, Smurfit Kappa Group PLC created a novel, environmentally friendly water-resistant paper. The new TechniPaper® portfolio from Smurfit Kappa includes a variety of high-performance papers that can manage even the most complicated supply chains. AquaStopäis a part of this portfolio. Due to a unique coating applied to the AquaStopä paper during manufacturing, it is water-resistant.
Global Retail Bags Market: Segmentation
By Material Type
- Plastic
- Paper
- Others (Jute, Cotton, Canvas)
By End-user
- Grocery Stores
- Food Service
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
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