The plastic bag market was valued at approximately $25.10 billion in 2023 and is expected to grow to around $35.41 billion by 2033. This represents a compound annual growth rate (CAGR) of 3.5% from 2024 to 2034.
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The market is proliferating due to the increasing business of retail market of healthcare, personal care & cosmetics, e-commerce, hotels & cafes, catering, bakeries, offices, healthcare services, and many others which require plastic bags for packaging for shipping and delivery purposes. The growing trend of online ordering facilities is boosting the plastic bag market.
Major Key Insights of the Plastic Bag Market
- Asia Pacific dominated the plastic bag market in 2023.
- Europe is expected to grow significantly in the market during the forecast period.
- By type, Zipper bags dominated the market with the largest share in 2023.
- By material type, the polyethylene (PE) segment is expected to grow significantly during the forecast period.
- By distribution type, the direct sales (manufacturer) segment is expected to grow significantly during the forecast period.
- By end type, the healthcare segment dominated the plastic bag market in 2023.
Plastic Bag Market Offering Versatile Packaging
The plastic bag market plays a significant role in the packaging industry and it is driven due to its versatility, sustainable, budget-friendly, and durable properties. It has played a significant role in the packaging market as it drives the market due to versatile packaging solutions. It is majorly favoured due to its lightweight which benefits businesses while shipping products, and cost-effectiveness which allows businesses to get a huge profit which makes it a perfect alternative to traditional packaging. The rising usage of plastic bags in fields such as skincare & cosmetics gives a wide potential for the growth of this industry. Although plastic is a good option for packaging due to its protective quality users have an issue that is constantly raised about environmental problems faced with the growing usage of such products.
These kinds of packaging are highly preferred in the catering and food packaging industry as it does not react with food items and is found to be non-toxic for such purposes they can also be customized easily according to requirements and to promote brands as well. Plastic bags provide improvised quality protection by working as an excellent barrier to oxygen and water vapour. The major innovation by market players is the development of biodegradable and recyclable plastic varieties which reduce the landfill wastage issues and also decrease the carbon footprint connected with packaging solutions.
Top 5 Factors to Drive the Plastic Bag Market
- Cost-effectiveness The manufacturing process of plastic bags is low-cost while compared to any other packaging materials that drive the plastic bag market.
- Convenience and Versatile Product Plastic bags are extremely lightweight, water-resistant, and durable which makes them suitable for food storage and shipping materials.
- Growing E-commerce Services The rising trend of online ordering has improved the business in the e-commerce industry. This packaging of products becomes essential ultimately driving the polyethylene corrugated packaging market.
- Rising Urbanization With the rising population in urban areas the demand for growing plastic bag packaging methods.
- Changes in Regulatory Bodies In many areas, there are some strict rules for using plastic bags to expand the usage of these bags and make them environment-friendly.
Top Companies in the Plastic Bag Market
- Champion Plastics
- Associated Bag
- Bagbarn.com
- Mutual Plastics Llc
- Polypro packaging
- The Buckeye Bag Company
- Akshar Packaging
- Marlex poly Plast
- Pearl Industries
- Aim Plastic Pack
- Bag ladies
- Essel Propack Limited
- Time Technoplast Limited
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