Carry Bags Market Insights
As travel bags are increasingly becoming a fashion accessory with ergonomic designs, trendy color combinations, textures, and clean contoured lines, the Asia Pacific travel bag market has witnessed fast growth. Moreover, design modification and innovative materials offering light bags have further fueled market growth. As more and more people become globally mobile and exposed to international accessories, there is growing demand for travel accessories. However, during the initial stages of the COVID-19 outbreak, due to lockdowns leading to the closure of supermarkets and hypermarkets, the expansion of the global carry bags market size witnessed a downfall.
Carry Bags Market Trends
Carry bags have a high density, and due to their chemical composition, the use of plastic and paper carry bags is more predominant. These bags are highly recommended for industrial use, with single-use intention also very popular. Presently, several companies are adopting new methods in the carry bags industry to recycle and reuse these products. Companies in the carry bags market space have started offering biodegradable bags that are easily decomposable. Carry bags are being made available everywhere for industrial and commercial purposes, although, a lot are being used at retail units too for plastic protective packaging purposes.
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Regional Outlook of Carry Bags Market
In 2020, East Asia will hold the largest carry bags market share of over 25%. Increasing strict regulations of the use of non-biodegradable packaging, coupled with growing introduction of biodegradable plastic packaging, is the main factor that is increasing the region's usage of carry bags.
The Middle East & Africa has experienced steady demand for carry bags due to retail network penetration coupled with steady expansion of the hospitality industry. However, a significant number of African countries, including Kenya, Rwanda, Tanzania, and others, are limiting the use of carry bags, which, in turn, is expected to pose as a major challenge for the expansion of the Middle East & Africa carry bags market in the near future.
Carry Bags Market Manufacturer Insights
The global carry bags market is characterized by the presence of a large number of both, foreign and domestic players. To maintain sustainability in packaging, all the key players are engaged in the production of biodegradable carry bags. Players included in the tier-1 bracket are Ice Green, Mapco, Olympic Bags, Hymopack, Komol Plastics, and Premier Poly Products. These players have a wide presence and rely on technological advancements such as highly equipped plastic sheet processing machinery, and have developed strong marketing channels with food processors and end consumers.
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COVID-19 Impact on Carry Bags Market
The effect of the COVID-19 pandemic will have momentary implications on the carry bags market. The foodservice industry is observing exceptional declined utilization and disturbed supply chains. Due to this, the usage of carry bags declined during the first and second quarters of 2020. However, with lockdowns and regulations improving across several countries, and the foodservice sector starting operations, the global carry bags slightly improved during the third quarter of 2020.
The Analyst’s Viewpoint
“Demand for biodegradable bags will see a marked increase over the next ten years, as the world focuses more on the environment and recycling activities.”
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Global Carry Bags Market: Scope of the Report
A recent global carry bags market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on key drivers, restraints, opportunities, and threats to the expansion of the global carry bags market. A detailed segmental analysis based on bag type, type, end use, sales channel, and region has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution, and market value analysis provides an in-depth perspective about the future scope of the global carry bags market. In addition, a separate section on the market structure has also been provided. The section provides detailed analysis of key market players and their strategies for expansion in the carry bags market.
Global Carry Bags Market – Scope of the Report
The global carry bags market is anticipated to witness notable upsurge during the forecast period of 2020 to 2030, conferring to a new Fact.MR study. The study elaborates on crucial trends that are presently determining the growth of the carry bags market. This newly published and perceptive report sheds light on vital dynamics that are likely to convert the future of the carry bags market, in turn, generating worthwhile opportunities for key companies as well as evolving players who are interested in the manufacturing of carry bags.
The carry bags market study is a detailed market intellect on key revenue progression factors, challenges, industry trends, and opportunities, which will eventually influence the growth of the carry bags market. The report primarily conveys a summary of the carry bags market, considering the present and upcoming industry scenario, to reveal striking sides relating to the acceptance of carry bags across prominent regional markets.
A detailed assessment on a few of carry bags material suppliers accessible in the report allows report readers to obtain detailed findings that have resulted from carry bags supply chain analysis, business execution, and value chain analysis across the regional markets incorporated in the report. A list of prominent companies functioning within the carry bags market provided in the report enhances the reliability of this ample research study.
Carry Bags Market: Report Summary
The study offers a comprehensive overview on diverse features that are inducing the demand, revenue generation, and sales in the carry bags market across the globe. A comprehensive estimate on the carry bags market has also been made accessible by experts, who have considered market estimates on the basis of a likely scenario, an optimistic scenario, and a conservative scenario, regarding the sales of carry bags during the forecast period. Analysis and estimation of price point comparison by region and by product with the global average price has been included in this study.
Carry Bags Market: Segmentation
Fact.MR’s study has done the segmentation of the carry bags market on the basis of bag type, type, end use, sales channel, and region.
Supermarkets and Hypermarkets
Other End Uses
South Asia& Oceania
Carry Bags Market: Analysis on Market Size Evaluation
Predictions of the carry bags market, encompassing current as well as forthcoming projected value estimates and analysis on region-wise demand trends and price index have been assimilated in the report.
Market estimates at the regional and global scale for carry bags are available in terms of value “US$ Mn” and volume “Mn Units”. A Y-o-Y growth contrast on prominent carry bags market segments, along with market attractiveness valuation, computes the understandings brought in the report. Metrics mentioned above are also followed based on applications where carry bags witness steady demand.
Carry Bags Market: Scrutinized Assessment on Regional Segments
Weighted sections have been elaborated in the report on the carry bags market, which deliver projections on regional markets. These chapters brighten the regional macros (political economic and business environment outlook), which are expected to have a significant impact on the growth of the carry bags market during period of forecast.
Country-specific valuation on the demand for carry bags has been offered for each regional market, along with market scope estimates and forecasts, price index, price point assessment, and impact analysis of the dynamics of prominent regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Carry Bags Market: In-depth Analysis on Competitive Landscape
The report ends with a section on the competition scenario of the carry bags market, along with the profiles of major companies contributing to market expansion. Essential and up-to-date data as well as information correlated to market performers who principally engage in the production and supply of carry bags has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to plan preemptive steps to advance their businesses.
Company profiles have been shared in the report, which exert essentials such as product portfolio, along with an all-inclusive SWOT analysis on each player recognized and company policies identification and analysis. Company presence mapped and presented through a matrix for all the prominent players functioning in the carry bags market offers readers with actionable intellect, which helps in thoughtfully presenting the market status, and making decisive predictions on the competition levels in the carry bags market. Major companies operating in the carry bags market are Omniplast, Hymopack, Mapco, Ice Green, Premier Poly Products and others.
Impact of COVID-19 on Carry Bags Market
The report includes a scenario-based assessment of the impact of COVID-19 across key regions for all four quarters of 2020. The report discusses market forecasts under optimistic, probabilistic, and pessimistic scenario. Under these three scenarios, demand loss and recovery has been illustrated and described through L-shaped and U-shaped recovery curves. Alongside, the COVID-19 impact has been benchmarked with previous crises, including the sub-prime crisis, Eurozone crisis, and SARS pandemic.
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