How Big is the Retail Bags Market? :
IMARC Group’s latest report, titled “Retail Bags Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global retail bags market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global retail bags market size reached US$ 18.74 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.86 Billion by 2028, exhibiting a growth rate (CAGR) of 6.09% during 2023-2028.
What is Retail Bags? :
Retail bags refer to the bags used by retailers and businesses to package and carry customer purchases. They are designed to provide convenience, protection, and branding opportunities. Retail bags come in various shapes, sizes, materials, and styles to accommodate different types of products and meet the specific needs of retailers. Common types of retail bags include plastic bags, paper bags, reusable fabric bags, and specialty bags.
They can be customized with store logos, branding, and promotional messages, serving as a marketing tool for businesses. They are also designed to be visually appealing and reflect the image and style of the retailer. The choice of the retail bag depends on various factors, such as product type, customer preferences, environmental considerations, and budget. Retail bags play a practical role in facilitating the transportation of purchased items while also serving as a means of advertising and representing the retailer’s brand.
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Who are the key Players Operating in the Industry? :
- 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
What are the Growth Prospects and Trends in the Retail Bags Industry ? :
The rising awareness and importance of sustainability are driving the global market. Moreover, the growing preference for bags manufactured from recycled materials, biodegradable or compostable materials, and those designed for reuse is catalyzing the market. In response, retailers are aligning with sustainability goals by offering eco-friendly bag options, reducing their environmental footprint, and appealing to environmentally conscious consumers, thus providing a boost to the market.
In line with this, retailers are heavily investing in aesthetically appealing and well-designed bags that align with their brand identity and are creating a positive market outlook. Furthermore, the growth of e-commerce and omnichannel retailing has impacted the retail bags market. Besides, regulatory changes and government initiatives aimed at reducing single-use plastics are driving the shift toward reusable retail bags.
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Key Market Segmentation:
Material Type Insights:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Others
- Paper
- Others
End User Insights:
- 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 (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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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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