The latest report by IMARC Group, titled “Retail Bags Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the retail bags market report. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global retail bags market size reached US$ 19.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 32.1 Billion by 2032, exhibiting a growth rate (CAGR) of 5.32% during 2024-2032.
Retail Bags Market Trends:
The global market is primarily driven by the increasing awareness about environmental sustainability and waste reduction efforts. In line with this, the widespread availability of biodegradable and reusable bags is also providing an impetus to the market. Moreover, the considerable rise in regulatory policies promoting eco-friendly products is also acting as a significant growth-inducing factor for the market. In addition to this, the expanding number of retail outlets resulting in higher consumer accessibility is resulting in a higher investment in customized, branded bag variants.
Besides this, the growing demand for aesthetically appealing yet functional designs due to rising consumer expectations is creating lucrative opportunities in the market. Also, the increasing influence of fashion trends on bag designs is impacting the market positively. The market is further driven by the implementation of favorable government support and initiatives to reduce the usage of plastic bags. Apart from this, easy product availability across online and offline organized retail channels is propelling the market.
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Retail Bags Market Scope and Growth Analysis:
The scope of the global market is expanding as consumers increasingly prefer eco-friendly and sustainable shopping solutions, which is enhancing the reach of various types of retail bags. With governments worldwide implementing strict regulations against single-use plastics, there is a heightened scope for alternatives such as cloth and paper bags in the retail sector as per the market analysis.
Furthermore, the increasing integration of technology in product design and retail operations is broadening the market's scope by enhancing product functionality and customer experience. The rise in online shopping has significantly expanded the scope for retail bags, as e-commerce platforms frequently seek innovative packaging solutions that are both protective and branded. Additionally, market scope is broadened by the increasing number of small and medium-sized enterprises (SMEs) entering the market with unique and customizable offerings. Market analysis also indicates that the ongoing shift towards omnichannel retailing is increasing the demand for versatile and durable bags, further broadening the market's scope.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Atlantic Poly, Inc.
- International Paper Company
- Novolex Corporate
- Rainbow Packaging, Inc.
- Rutan Poly Industries, Inc.
- Smurfit Kappa Group PLC
- The Carry Bag Company
- Welton Bibby & Baron
Retail Bags Market Segmentation:
Our report has categorized the market based on region, material type and end user.
Breakup by Material Type:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Others
- Paper
- Others
Breakup by End User:
- Grocery Stores
- Food Service
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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