Recycled Paper Bags Market Forecast and CAGR
According to the latest research by Fact.MR, recycled paper bags market is estimated to grow at a CAGR of 5.6% in the coming 10 years. Assessing the need of the hour, millennials have been adapting to rapid changes and switching from the use of plastic bags to using recycled paper bags that are of supreme quality and not hazardous to the environment.
They are non-toxic, light-weighted, biodegradable, and recyclable. This change has been made by almost every company operating in the paper bags business. The use of recycled paper bags has been initiated for different purposes like packaging and logistics.
Even the carry bags are now made from durable paper instead of virgin paper. Due to all these factors, a surge in the demand for these products is seen which will continue to rise as the assessment period progresses.
What is Driving Demand for Recycled Paper Bags?
The demand for recycled paper bags is being escalated due to the increasing awareness regarding the circular economy and the reluctant attitude towards plastic bags. The replacement of plastics with a paper due to its eco-friendly nature is boosting this market.
Almost every industry, from food and beverage to chemical, is now adopting the use of plastic-free products that are safe for the environment causing no harm to it. More focus is put on recycled paper as virgin paper costs much higher, driving the demand at a considerable rate.
Being safer and economical, paper bags as compared to plastic, are put to different uses such as shopping bags or carry bags, for packaging materials within the retail sector or food industry.
Even the food deliveries are being done with paper packaging instead of plastic polybags. All these factors are the reasons for the rise in demand for recycled paper bags.
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Covid-19 Impact on Global Recycled Paper Bags Market
This pandemic has caused a disruption of the society and the economy. The whole world is battling with the effects of the widespread of this lethal virus. Many people have lost their lives and others have lost their sources of income, making the economy even more degraded.
From the devastation of different industries to losing millions of jobs, the consequences are still being faced by the economy as a whole. It is responsible for global poverty and for hindering the growth and development of the entire world.
In case of this sector, a negative impact was seen at first. But presently, due to the release of the lockdown and an ease on the restrictions across the world, many companies and manufacturers are coming back into action.
With all the activities getting resumed, the demand is again rising since packaging of materials in retail sector and deliveries in case of food and beverage industry are showing an increase in the requirement of recycled paper.
Global Recycled Paper Bags Market Geographical Outlook
The demand for recycled paper bags has been studied for six discrete regions including North America, Latin America, Europe, East-Asia, South-Asia and Middle-East & Africa.
Among these, the Asia Pacific region has the largest market share which is bringing in the maximum profit. The increasing role of different industries like retail, food and beverage and agriculture has created a higher customer base in this region and thus have shown an increase in the number of key players.
Additionally, supportive government stance towards circular economy and initiatives such as plastic ban are proliferating the market at a higher rate.
Easily available labor and availability of raw materials in countries like India and China has made this market even bigger and has expanded its operations. Next in the line is North America which is gradually enlarging its operations to gain even bigger market share.
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Who are the Key Manufacturers of the Recycled Paper Bags Market?
There are different leading manufacturers in this market such as
- SV Print pac
- Global-pak Inc.
- International Paper Company
- United Bags Inc
- Langston Companies Inc
- Novolex Holdings Inc.
Different players have adopted various strategies such as product innovation, partnerships, expansions and mergers and acquisitions to increase their share which has led to the rise in the overall size of the market.
The organic and inorganic growth strategies has made the players to build up their places which will result in higher demand for recycled paper bags in the market.
Recycled Paper Bags Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
An Adaptive Approach to Modern-day Research Needs
- Pinched Bottom Open Mouth
- Pasted valve
- Pasted Open Mouth
- White kraft
- Brown kraft
- Less than 2 ply
- 2-3 ply
- More than 3 ply
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- Northern Africa
- South Africa
- Other Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of FACT.MR.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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