Dublin, Nov. 08, 2024 (GLOBE NEWSWIRE) -- The "Retail Bags Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The retail bags market size has grown strongly in recent years, from $16.84 billion in 2023 to $17.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The increase observed in the past can be linked to factors such as urbanization, a surge in tourism, a rise in home delivery services, growth in e-commerce, and an uptick in online shopping.
The retail bags market size is expected to see strong growth in the next few years, growing to $23.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth during the forecast period is driven by the expanding retail sector, the increasing number of shopping malls, heightened awareness of waste production, a rise in supermarkets, and growing consumer expenditure.
Key trends expected in this period include technological innovations, the use of biodegradable bags, eco-friendly materials, smart packaging solutions, and subscription-based models.
The growth of e-commerce is expected to drive expansion in the retail bags market moving forward. E-commerce, which involves buying and selling goods and services over the Internet, has seen significant growth due to advancements in mobile technology, digital marketing, logistics, and supply chain management. Retail bags play a crucial role in e-commerce by facilitating the packaging and delivery process, thereby enhancing customer convenience. For example, in the first quarter of 2024, U.S. retail e-commerce sales reached approximately $289.2 billion, showing a 2.1% increase (0.7%) from the previous quarter, according to data from the United States Census Bureau. Therefore, the rise of e-commerce is a key driver for the growth of the retail bags market.
Leading companies in the retail bags market are focusing on innovation, particularly in developing environmentally friendly products such as locally-made retail paper bags, to promote sustainability and improve product durability. Locally-made retail paper bags are crafted within specific geographic areas or communities, offering businesses an opportunity to align with sustainability goals and support local economies. For instance, Visy Industries, an Australia-based packaging and recycling company, introduced locally-made retail paper bags in February 2024. These bags are constructed from thicker paper material, ensuring enhanced strength and durability suitable for carrying heavier items without risk of tearing. They are fully recyclable through Australian curbside recycling programs, providing consumers with a convenient and eco-friendly disposal option.
Major companies operating in the retail bags market are Flexo Converters USA, International Paper, Smurfit Kappa Group, Mondi Group, Novolex, Burberry Group, ProAmpac Intermediate, Coveris, Antalis Group, Atlantic Packaging, Welton Bibby and Baron, BioPak, EI Dorado Packaging, Global-Pak, Rutan Poly Industries, Atlantic Poly, Attwoods Packaging, GreenPack, Rainbow Packaging, SPP Poly Pack, The Carry Bag Company, Kiwi Office and Europages UK.
This report focuses on retail bags market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- By Material Type: Plastic; Paper; Other Material Types
- By Pattern: Textured; Printed; Solid; Other Patterns
- By End User: Grocery Stores; Food Service; Other End Users
Key Companies Mentioned: Flexo Converters USA; International Paper; Smurfit Kappa Group plc; Mondi Group plc; Novolex Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $17.98 Billion |
| Forecasted Market Value (USD) by 2028 | $23.66 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Retail Bags Market Characteristics
3. Retail Bags Market Trends and Strategies
4. Retail Bags Market - Macro Economic Scenario
5. Global Retail Bags Market Size and Growth
5.1. Global Retail Bags Market Drivers and Restraints
5.2. Global Retail Bags Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Retail Bags Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Retail Bags Market Segmentation
6.1. Global Retail Bags Market, Segmentation by Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Plastic
- Paper
- Other Material Types
6.2. Global Retail Bags Market, Segmentation by Pattern, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Textured
- Printed
- Solid
- Other Patterns
6.3. Global Retail Bags Market, Segmentation by End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Grocery Stores
- Food Service
- Other End Users
7. Retail Bags Market Regional and Country Analysis
7.1. Global Retail Bags Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Retail Bags Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8-29. Region and Country Breakdown
30. Retail Bags Market Competitive Landscape and Company Profiles
30.1. Retail Bags Market Competitive Landscape
30.2. Retail Bags Market Company Profiles
- Flexo Converters USA
- International Paper
- Smurfit Kappa Group
- Mondi Group
- Novolex
31. Retail Bags Market Other Major and Innovative Companies
- Burberry Group
- ProAmpac Intermediate
- Coveris
- Antalis Group
- Atlantic Packaging
- Welton Bibby and Baron
- BioPak
- EI Dorado Packaging
- Global-Pak
- Rutan Poly Industries
- Atlantic Poly
- Attwoods Packaging
- GreenPack Limited
- Rainbow Packaging
- SPP Poly Pack
32. Global Retail Bags Market Competitive Benchmarking
33. Global Retail Bags Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Retail Bags Market
35. Retail Bags Market Future Outlook and Potential Analysis
35.1 Retail Bags Market in 2028 - Countries Offering Most New Opportunities
35.2 Retail Bags Market in 2028 - Segments Offering Most New Opportunities
35.3 Retail Bags Market in 2028 - Growth Strategies
For more information about this report visit https://www.researchandmarkets.com/r/994q1d
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