Plastic bag and sack market

Q: Which region held the largest market share in the market?

Europe region held the largest market share in the market. Read more

Plastic Bag and Sack Market, By Material Type (Non-Bio-DegradableHigh-density polyethylene (HDPE), Low-density polyethylene (LDPE), Linear low-density polyethylene (LLDPE), Polypropylene (PP), Polystyrene (PS), Others) Bio-Degradable (Polylactic acid (PLA), Polyhydroxyalkanoates (PHA), Starch Blends, Others)), By Product Type: (T-Shirt Bag, Gusseted Bag, Lay Flat Bag, Trash Bag, Rubble Sack, Woven Sack, Others), By Application: ( Retail & Consumer (Grocery Products, Food & Beverage, Clothing & Apparel, Others), Institutional (Hospitality, Hospital & Healthcare Facility, Others), Industrial), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

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May 2023
CMI3470
120 Pages
Excel & Pdf
Packaging

Summary

The global plastic bag and sack market is projected to reach around US$ 36.30 Billion by the end of 2030, in terms of revenue, growing at CAGR of 5.1% during the forecast period (2023-2030).

Drivers

Declining prices of oil & gas around the globe

Declining prices of oil & gas around the globe are projected to drive the market growth of the plastic bag and sack. According to a report by the Energy Information Administration (EIA), the global crude oil inventory rose by around 500 barrels in 2022 that translated to 40% drop in oil prices from US$ 46 per barrel in 2021 to US$ 33 per barrel in 2022. Therefore, the declining price of oil & gas is encouraging manufacturer to use these raw materials for the production of plastic bags.

Growing focus of manufacturers to use plastic bags as a marketing platform for the brand is estimated to foster the market growth of plastic bag and sack during the forecast period. For example, printed plastic bags are providing excellent marketing tool to promote and create brand awareness, across various end use industries such as apparel, consumer products, food & beverage, bakery, and others. Therefore, using plastic bags as a form of brand promotion among various companies is expected to fuel the market growth of plastic bag and sack.

Plastic Bag and Sack Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2022:	US$ 24.3 Bn
Historical Data for:	2017-2021	Estimated Year:	2023
Forecast Period 2023 to 2030 CAGR:	5.1%	Forecast Period	2023-2030
Geographies covered:	By Region: North America, Latin America, Europe, Middle East& Africa, and Asia Pacific
Segments covered:	By Material Type: Non-Bio-DegradableHigh-density polyethylene (HDPE), Low-density polyethylene (LDPE), Linear low-density polyethylene (LLDPE), Polypropylene (PP), Polystyrene (PS), Others) Bio-Degradable (Polylactic acid (PLA), Polyhydroxyalkanoates (PHA), Starch Blends, Others) By Product Type: (T-Shirt Bag, Gusseted Bag, Lay Flat Bag, Trash Bag, Rubble Sack, Woven Sack, Others) By Application: Retail & Consumer (Grocery Products, Food & Beverage, Clothing & Apparel, Others), Institutional (Hospitality, Hospital & Healthcare Facility, Others), Industrial
Companies covered:	Key players operating in global plastic bag and sack are AEP Industries Inc., Mondi Group, Berry Plastics Inc., Alpha T-shirt, Novolex, Ampac Holdings LLC, Bischof & Klein GmbH & Co. KG, Inteplast Group, Starlinger & Co Gesellschaft M.B.H, Da Nang Plastic Joint Stock Company, Hanoi Plastic Bag JSC, Goglio Group, Schur Flexibles Group
Growth Drivers:	Declining prices of oil & gas around the globe
Restraints & Challenges:	Government Taxation and extra charges

Market Restraints

Government Taxation and extra charges

In order to reduce the usage of single-use plastic bags, various governments around the globe are increasing taxation and also putting extra charges on the usage of plastic bags. Growing implementation of such initiatives by the government is expected to reduce the consumption of thin single-use High-density polyethylene (HDPE) plastic bags, which is projected to hinder the market growth of plastic bag and sack over the forecast period.

Increasing adoption of paper bags or with other effective substitutes of plastic bag is projected to hinder the market growth over the forecast period. Growing awareness regarding the harmful impact of plastic bag among consumer is encouraging manufacturer to opt for eco-friendly packaging products. Aforementioned factors are projected to restrict the market growth of the plastic bag and sack over the forecast timeframe.

Market Opportunities

Increasing focus of manufacturers for producing innovative plastic bags will favor the market growth in the near future. For instance, in May 2022, Interplast Group introduced a new and extensive line of industrial can liners developed for environmentally-focused businesses and industries. The product is ideal for diverse applications and is available in High-density polyethylene (HDPE) and Linear low-density polyethylene (LLDPE), in a wide range of sizes and gauges.

The growing introduction of biodegradable plastic bags is expected to impact the market growth positively over the forecast period. For instance, in June 2022 LyondellBasell has joined forces with a Finland-based energy company to produce two forms of plastics made from renewable sources instead of fossil fuels. The company has partnered with Neste, an oil refiner, and producer of renewable diesel, to create a new bio-based polypropylene and low-density polyethylene products, two of the most common types of plastics.

Global Plastic Bag and Sack Market- Impact of Coronavirus (Covid-19) Pandemic

COVID-19 pandemic has moderate effect on plastic bags and sack industry. Sales of this industry deceased due to supply chain and transportation regulations. Due to lockdown production capacity entirely shut down in many countries. After COVID-19 market is growing and many production sites reopened, thus resulting in positive sales of plastic bags and sack market.

Figure 1. Global Plastic Bag and Sack Market, Revenue Share (%), By Region, 2022

On basis of the region, Europe region dominated the global plastic bag and sack market in 2022, accounting for 35% share in terms of value, followed by Asia Pacific and North America, respectively.

Figure 2. Global Plastic Bag and Sack Market, Revenue Share (%), By Application, in 2022

On the basis of application, in 2022, retail & consumer application accounted the largest market share of 70% in terms of value, followed by industrial and institutional respectively.

Recent Developments:

In August 2022, Berry Plastics Group, Inc., and AEP Industries Inc. have entered into a definitive merger agreement, under which Berry will acquire all of the outstanding shares of AEP in a cash and stock transaction.

In February 2023, American Electric Power has entered into an agreement to sell its 1,365-megawatt (MW) unregulated, contracted renewables portfolio to IRG Acquisition Holdings, a partnership owned by Invenergy, CDPQ and funds managed by Blackstone Infrastructure.

In April 2023, Mondi, a global leader in sustainable packaging and paper, has created Protector Bag ExpandForm, a paperbag solution with an expandable feature to safely rollpack mattresses.

Competitive Section

Key players operating in global plastic bag and sack are AEP Industries Inc., Mondi Group, Berry Plastics Inc., Alpha T-shirt, Novolex, Ampac Holdings LLC, Bischof & Klein GmbH & Co. KG, Inteplast Group, Starlinger & Co Gesellschaft M.B.H, Da Nang Plastic Joint Stock Company, Hanoi Plastic Bag JSC, Goglio Group, Schur Flexibles Group

Market Definition:

A plastic bag and sack, are also referred to as polybag and is completely composed of thin plastic film. Plastic bag and sack is widely used across packaged industry for packaging packed food products, apparel, fresh produce, stationery, and other product. These bags are considerably transparent, offer flexibility and tear-resistance. Moreover, it also provides a superior moisture barrier properties. Retail & consumer, food and beverage, institutional services, and other industrial applications are some of the major application area of plastic bag and sack.

Table of Content

Table of Contents

* Browse 45 market data tables* and 30 figures* on "Global Plastic Bag and Sack Market” – global forecast to 2030

Segmentation

Detailed Segmentation:

- Frequently Asked Questions -

What are the growth estimates for the market till 2030?

Global dimmer acid market is estimated to reach around US$ 36.3 Billion by the end of 2030, in terms of revenue.

Which are the prominent market players across the globe?

What are the key factors hampering growth of the market?

Government Taxation and extra charges can hamper the market growth.

What are the key factors driving growth of the market?

Declining prices of oil & gas around the globe are the key factors driving growth of the market

What is the Compound Annual Growth Rate (CAGR) of the market for next 8 years?

Compound Annual Growth Rate (CAGR) of the market for next 8 years 5.1%

Which region held the largest market share in the market?

Europe region held the largest market share in the market.