Dublin, April 10, 2024 (GLOBE NEWSWIRE) -- The "U.S. Retail Bags Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The U.S. Retail Bags Market was valued at USD 3.55 billion in 2023, and is projected to reach USD 4.23 billion by 2029, showcasing a CAGR of 2.96%.
The U.S. retail bags market report consists of exclusive data on 30 vendors. The U.S. retail bag market's competitive scenario is intensifying, with global and domestic players offering diverse products. Regarding market share, a few major players are currently dominating the market. Some companies that are currently dominating the market are Inteplast Group, International Paper, Smurfit Kappa, Novolex, and Sigma Plastic Group.
On June 2, 2023, Novolex introduced a ProWAVE Tote featuring a minimum of 40% post-consumer recycled material that aligns with legislative requirements for reusable bags, particularly in California. This move aligns with legislative requirements, especially in environmentally conscious states like California, and sets a precedent for other market players. This development signals a positive shift toward sustainability in the U.S. retail bags market, urging other market players to consider eco-friendly options to meet consumer demand for environmentally conscious packaging.
Growth In the E-Commerce Industry: The booming e-commerce industry significantly impacts the U.S. retail bags market. With the rapid growth of online shopping, there is an increasing demand for packaging solutions suitable for effective shipping and handling. Retail bags are essential in ensuring the safe delivery of goods from warehouses to customers' homes. This surge in demand underscores the need for packaging materials that balance strength, affordability, and environmental friendliness. Market players can adapt to this trend by innovating packaging designs that meet the specific needs of e-commerce.
Rise In Consumer Convenience: The rise in consumer convenience is a driving force in the U.S. retail bags market, highlighting the crucial role of bags in enhancing the overall shopping experience. Consumers seek functional, easy-to-carry bags suitable for various product types and contribute to a positive shopping journey. This trend has profoundly impacted the market, leading to increased demand for bags with features like ergonomic handles, durable materials, and designs that seamlessly accommodate different products. Adapting to consumer convenience trends meets customer expectations and fosters brand loyalty in a competitive retail landscape.
U.S. RETAIL BAGS MARKET INSIGHTS
- The U.S. retail bag market, by design type, is divided into two types: with and without handle bags. Handbag design is leading the market share with the largest share of over 60% in 2023. The segment is growing as the design of these bags facilitates easy and comfortable carrying, positively contributing to the overall shopping experience for customers and significantly enhancing consumer convenience. Handle bags can serve as a prime brand product, enabling retailers to display logos and prominently convey marketing messages. This strategic use of the space contributes to increased brand recognition among consumers, thereby increasing visibility and further creating a strong brand identity.
- The paper material bag segment is leading the market share of the U.S. retail bags market. The segment is propelling as it holds a solid eco-friendly appeal. The use of renewable resources in their production and their biodegradable nature positions paper bags as a sustainable alternative, aligning with the growing environmental consciousness among consumers. Despite being lightweight in appearance, these paper bags are sturdy and can withstand moderate loads, further adding to the rising demand for paper material in retail bags.
- The custom product segment is growing prominently in the U.S. market, with the fastest CAGR of 3.43% during the forecast period. Custom bags allow businesses to tailor packaging to their brand specifications. The segment is growing as these provide unique shapes to specific branding elements, and these bags offer personalization that aligns with the brand's identity.
- By application, the food services segment is seeing the highest growth, with a CAGR of 3.77% during the forecast period. The retail bag plays a crucial role in the food services segment, further adding to its growth. Retail bags are essential in delivering hot and fresh meals to customers. They must be heat-resistant to maintain the quality of the food during transportation and delivery, preventing it from getting cold or soggy. In the food service sector, bags are more than just containers; they are an extension of the brand. Customized branding on these bags enhances brand recognition, fostering customer loyalty.
KEY QUESTIONS ANSWERED
- How big is the U.S. retail bag market?
- What is the growth rate of the U.S. retail bag market?
- What are the future trends of the U.S. retail bag market?
- Who are the major players in the U.S. retail bag market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 71 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $3.55 Billion |
| Forecasted Market Value (USD) by 2029 | $4.23 Billion |
| Compound Annual Growth Rate | 2.9% |
| Regions Covered | United States |
VENDORS LIST
Key Vendors
- Inteplast Group
- International Paper
- Novolex
- Sigma Plastic Group
- Smurfit Kappa
Other Prominent Vendors
- Jet Paper Bags
- Mondi
- Global-Pak
- Advance Polybag
- ProAmpac
- IMEX
- Atlantic Poly
- Rutan Poly
- Kari-Out
- Creative Retail Packaging
- Action Bags
- Diversified Plastic
- Champion Plastics
- Command Packaging
- Associated Bag
- Four Star Plastics
- Aceco Industrial Packaging's
- Plastic Bagmart,
- Superbag
- American Paper Bag
- RediBagUSA
- Classic Packaging Corporation
- Mid-Atlantic Packaging
- International Plastics
- A Smith & Sons
SEGMENTATION & FORECAST
- Design Type (Revenue)
- With Handle Bags
- Without Handle Bags
- Material Type (Revenue)
- Paper
- Plastic
- Others
- Product Type (Revenue)
- Stock
- Custom
- Application (Revenue)
- Food Services
- General Merchandise Store
- Supermarkets & Hypermarkets
- Others
For more information about this report visit https://www.researchandmarkets.com/r/4fq6kl
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