June 15, 2023 11:59 ET | Source: ReportLinker ReportLinker
New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Paper Bag Global Market Report 2023" - https://www.reportlinker.com/p06466561/?utm_source=GNW r.o., Paperera de Girona SA, Papier-Mettler KG, Ronpak Inc, Smurfit Kappa Group, Westrock Co Company, Oji Holdings Corporation, Paperbag Limited, Bulldog Bag Ltd., Packaging Pro, Rosenbloom Groupe Inc, Sonoco Products Company, Thai Showa Paxxs Company Limited, and United Bags Inc. The global paper bag market is expected to grow from $5.59 billion in 2022 to $5.87 billion in 2023 at a compound annual growth rate (CAGR) of 5.01%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The paper bag market is expected to reach $7.25 billion in 2027 at a CAGR of 5.43%. The paper bag market consists of sales of merchandise bags, euro tote, bakery bags, party bags, mailing bags, plain bags, printed bags, multi-wall bags, and laminated bags.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Paper bags are bags made of paper that are used for carrying or delivering groceries or other items. They are commonly used as an eco-friendly alternative to plastic bags as they are biodegradable, recyclable, and made from renewable resources. North America was the largest region in the paper bags market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The main types of paper bags are flat-bottom bags, pinched-bottom bags, sewn open-mouth bags, pasted valve bags, and others.Flat bottom bags refers to a type of bag that stands upright on shelves or wherever they are placed because of their flat bottoms and they are used by takeout restaurants and culinary businesses in the packaging of many industries such as animal food packaging, organic product packaging, and many other uses. Major materials used are brown kraft and white kraft that are used for single use and reusable in various distribution channels such as convenience stores, supermarkets or hypermarkets, specialty stores, e-commerce, other distribution channels by food and beverages, pharmaceutical, retail, construction, chemicals, and other end-users. The increasing online food delivery services are expected to propel the growth of the paper bag market going forward.Food delivery services refer to online third-party food-ordering systems that deliver authorized food products. Paper bags are a versatile and eco-friendly packaging option that can provide a range of benefits for online food delivery services such as branding opportunities, moisture resistance, heat retention, and eco-friendly alternative to plastic bags and other packaging materials.For instance, in February 2023, according to the report published by Zippia, a US-based online recruitment service provider, approximately 60% of Americans order delivery at least once per week and spend around $67 on takeout per week. The market value of online food delivery in 2020 was $18.5 billion, indicating that the industry’s market value increased by 13% between 2020 and 2021. Additionally, food delivery apps have expanded steadily over the last five years, rather than experiencing a big surge between 2019 and 2020. For example, app user growth between 2019 and 2020 was roughly 15%, whereas user growth between 2018 and 2019 was 11%. Therefore, the increasing online food delivery services are driving the growth of paper bags. Product innovation is a key trend gaining popularity in the paper bag market.Major market players in paper bags are concentrating their efforts on creating innovative products to sustain their market position. For instance, in October 2020, Seaman Paper, a US-based pulp and paper company, launched Vela bags, a brand of clear paper bags intended to replace single-use plastic poly bags.Vela bags are made of FSC®-certified paper and are recyclable, sturdy, and transparent, making them an efficient and sustainable alternative to plastic, which can be used to protect garment products along the supply chain, among other things. It is strong and weather-resistant, keeping things safe from humidity, moisture, and dust while in transit, and also transparent, enabling visual product inspection and manual barcode scanning. The resealable strip allows the bag to be closed and opened several times. In April 2022, Kari-Out, a US-based manufacturer and distributor of paper, aluminum, recyclable food containers, and food ingredients acquired Paper Bags USA for an undisclosed amount.With this acquisition, Kari-Out focuses on paper packaging and adds additional domestic production to the company’s extensive import network and also provides even more custom print options to enhance our customers’ branded packaging. Paper Bags USA is a US-based manufacturer of paper bags. The countries covered in the paper bag market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The paper bag market research report is one of a series of new reports that provides paper bag market statistics, including the paper bag industry global market size, regional shares, competitors with a paper bag market share, detailed paper bag market segments, market trends, and opportunities, and any further data you may need to thrive in the paper bag industry. This paper bag market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. Read the full report: https://www.reportlinker.com/p06466561/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Small Paper Handle Bags
