According to Fact.MR’s latest released report on recycled paper bags, the global market is set to be worth US$ 2.9 billion by the end of 2022 and is projected to expand at a CAGR of 5.5% between 2022 and 2032.
The rising trend of using eco-friendly products and not harming the environment is creating huge demand for recycled paper bags in the global market. Various industries are promoting the use of recycled paper bags in their packaging, both primary and secondary. Especially retail product packaging and food and beverage packaging are the prime demand creators for recycled paper bags.
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Different types of retail formats have been growing rapidly in the past few years and the trend is going to continue over the coming years as well.The rising number of single-person households and immigration of students across the world have led to a significant number of people who prefer ordering food from out rather than cooking at home. This has led to a rise in the demand for food packaging for transit till it is consumed, thereby benefiting recycled paper bag suppliers.
Key Takeaways from Market Study
- By thickness, 1-ply recycled paper bags holds the largest market share of 41.3% in 2022.
- By bag type, demand for pasted open mouth bags is projected to grow at a CAGR of 6.3% during 2022-2032.
- Among the end users, demand from the commercial sector is projected to expand around 1.7X to reach US$ 3.6 Bn by 2032.
- North America accounts for 28.1% share of the global market in 2022 and is forecasted to reach US$ 1.4 billion by 2032.
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“North America will be the largest consumer of recycled paper bags with growing demand from retail and food & beverage packaging industries,” says a Fact.MR analyst.
Market Development
With the aim of enhancing market presence and improving their portfolios, key players are introducing innovative recycled paper bags that have a multiwall feature for strength, customization services, and more.
Companies should focus on expanding their production capacities as product demand is going to rise in future due to high growth in various end-use industries. They should focus more on customization and working with end users to understand their requirements and develop solutions that are application-specific.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the recycled paper bags market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on bag type (sewn open mouth, pinched bottom open mouth, pasted valve, pasted open mouth, flat bottom), thickness (1 ply, 2 ply, 3 ply, >3 ply), and end user (commercial (agriculture & agriproduce packaging, building & construction product packaging, food & beverage packaging and delivery, retail product packaging, chemical packaging, others), individual/household), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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