DUBLIN, December 08, 2021--(BUSINESS WIRE)--The "Retail Bags Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Retail Bags Market is expected to grow at a CAGR of 5.2% over the forecast period 2021 to 2026.
Welton Bibby And Baron Limited
Plastic Material to Have a Dominant Share in the Market
The increase in the use of paper bags for packaging is driven by the increasing demand for sustainable products by consumers and brands. This is primarily driven by the growing awareness of the impact of plastics on the environment and the need to reduce the dependency of the human race on fossil fuels.
Plastic material is commonly utilized for the production of retail carry bags. These plastic retail carry bags are comfortable, affordable, and adaptable options for shopping. Plastic retail carry bags are prevalent across all retail sectors, covering general stores, supermarkets, apparel, general merchandise, and specialty stores.
The most popular plastic material type used in plastic bags is high-density polyethylene (HDPE) plastic. Other commonly used plastic material types comprise low-density polyethylene (LDPE) plastic and polypropylene (PP) plastic.
According to the US Department of Energy, Polypropylene, a kind of plastic often used to create everyday products such as plastic straws, yogurt tubs, and hangers are a major source of ocean pollution. Moreover, according to US Census Bureau, USA alone exported 1.37 billion pounds of plastics to other nations. Most of this plastics ends up in Asian countries like Indonesia, Malaysia, etc.
A growing interest in personal grooming and the increasing awareness of beauty products are driving investments from companies that develop packaging solutions for cosmetic companies.
APAC to Have a Significant Market Growth
Asia-Pacific is supposed to have meaningful growth due to the increasing number of production plants, combined with the growing customer base all over the region, contributing to the growth of the Retail Bags Market. For instance, According to the National Bureau of Statistics of China 2021, China had a total capacity of 7.23 million metric tonnes production of plastic materials, which is one of the most demanded materials for retail bags.
The growth of the retail sector in the region is also encouraging the need for retail bags. For example, in countries like China, according to the National Bureau of Statistics of China, the retail business revenue of consumer goods in China amounted to around 3.2 trillion yuan in May 2020.
Due to the growing need for paper pulp in countries like China and India, the APAC region is supposed to be the quickest developing region. There is an expansion in the transit packaging division in China, coupled with mounting consumerism heading to a swiftly building demand for retail paper bags.
Along with this demand for paper bags, the need for recycled paper is also increasing, which is having a massive impact on the market. According to the Source by China Customs, in 2020, China imported almost 7 million metric tonnes of paper from foreign countries, most of which to be recycled and to be used in packaging industries.
There is a growing rate of exports in the developing logistics sector as the corrugated boxes are anticipated to control the market in this APAC region. Due to substantial growth in industries, like cosmetics and fast-moving consumer goods (FMCG), the rapidly-growing middle-class population is presumed to support the need for paper bags and thus fuel the retail bags market region.
4 MARKET INSIGHTS 4.1 Market Overview 4.2 Market Drivers 4.2.1 Growing Preference for Paper Bags Globally 4.2.2 Rising Consumption of Personal Care Products and Cosmetics 4.3 Market Restraints 4.3.1 Restrictions on Using Plastic Retail Bags 4.4 Industry Attractiveness - Porter's Five Forces Analysis 4.5 Impact of Covid-19 on the Market 4.6 Industry Value Chain Analysis 4.7 Types of Patterns in Retail Bags (Textured, Printed, Solid)
5 MARKET SEGMENTATION 5.1 By Material Type 5.2 By End-user 5.3 Geography
For more information about this report visit https://www.researchandmarkets.com/r/i8jphi
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