Plastic Bag Market Size Expected to Reach USD 35.41 Bn by 2033

Ottawa, Nov. 12, 2024 (GLOBE NEWSWIRE) -- The global plastic bag packaging market size is predicted to increase from USD 26.89 billion in 2025 to approximately USD 35.41 billion by 2033, according to a study published by Towards Packaging a sister firm of Precedence Statistics. Asia Pacific dominated the plastic bag packaging market in 2023 with the largest market share. Europe region is anticipated to grow at a healthy CAGR during the forecast period.

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Navigating the Plastic Bag Market: Insights and Future Directions

Plastic bags are gaining immense popularity across various sectors, such as retail, food and beverage, healthcare, and pharmaceuticals. These bags are used for storing, carrying, and transporting goods, as they are lightweight, durable, and resistant to moisture, making them a better option for single use. Many retail stores and supermarkets provide consumers with plastic bags for carrying consumer goods.  

Due to the growing awareness about the environmental impact of plastic waste, many packaging manufacturers are investing heavily in packaging recycling technologies to minimize waste. Implementing artificial intelligence (AI) technologies helps accelerate the packaging process, from manufacturing to disposal. AI also helps appropriately dispose of packaging waste. Rising investments in research and development to produce advanced technologies that reduce material usage and improve bag strength and production further fuel the market growth. Multilayer structures and barrier coating help improve plastic bag performance, making them suitable for use across various sectors.

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Major Trends in the Plastic Bag Market

• Rising demand for sustainable packaging solutions: With the rapid shift toward sustainable solutions and increased concerns about plastic packaging waste, the demand for compostable and biodegradable plastic bags is rising. These bags decompose quickly with less damage to the environment than conventional plastic bags. In addition, many manufacturers are utilizing recycled post-consumer resin in the production of plastic bags, which minimizes waste, reduces the dependency on virgin plastic, and makes the bags more appealing to the consumer. 
• High adoption of flexible packaging: The adoption of flexible and convenient packaging solutions is rising, which impacts the market. Flexible packaging is suitable for a wide range of products, such as personal care, food, and household items, due to its versatility, flexibility, and lightweight nature.
• Strict regulations on single-use packaging: Various countries have imposed regulations to minimize single-use plastic usage and lower carbon footprint, encouraging industries to use reusable packaging solutions. Manufacturers are focusing on developing packaging using recycled and sustainable materials, thus contributing to market growth.  In addition, the demand for safe and hygienic packaging is rising in the pharmaceutical, healthcare, and food and beverage industries, thereby propelling the market.
  

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Why Towards Packaging for Plastic Bag Industry Report?

• Comprehensive Insights: Gain access to in-depth analyses covering market trends, competitive landscapes, and growth opportunities tailored specifically for the plastic bag industry.
• Expert Research Team: Benefit from the expertise of a dedicated team of analysts with extensive knowledge and experience in plastic bag market dynamics and emerging technologies.
• Data-driven Decisions: Leverage our meticulously gathered data and insights to make informed strategic decisions and drive business growth in a rapidly evolving market.
• Customizable Reports: Enjoy tailored research solutions that meet your unique business needs, providing relevant insights for your specific market segment.
• Global Perspective: Explore plastic bag market trends across various regions, allowing you to understand local dynamics while strategizing for global expansion.
  

Regional Snapshot

Technological Innovation to Maintain Asia Pacific’s Dominance in the Near Future

Asia Pacific led the plastic bag market in 2023. This is primarily due to the rapid industrialization and urbanization in countries like India, China, Japan, South Korea, and Thailand. The rapid expansion of the e-commerce and food delivery businesses in the region boosted the adoption of plastic bags in the past few years. Moreover, there is a high demand for compostable and biodegradable plastic bags in Asian countries as various countries have imposed several regulations on single-use plastic. This further encourages regional players to invest in advanced technologies to develop biodegradable plastic.

• For instance, according to a report published in September 2024, three students of Rajarambapu Institute of Technology (RIT), Sakhrale in Sangli district designed a technology to make biodegradable plastic using corn. They set up a commercially viable plant of 60 metric tons on the institute's campus. The plant manufactures pellets with 60% thermoplastic starch obtained from maize, which has plastic-like properties, and is compostable and decomposes within 84 days.
  

High Demand for Eco-friendly Plastic to Propels the Market in Europe

The market in Europe is anticipated to expand significantly in the coming years. This is due to the increasing demand for eco-friendly plastic bags across various industries. Stringent government regulations to reduce the use of single-use plastic bags are further boosting the production of bioplastics. Moreover, the growing demand for high-quality and customized packaging options contributes to regional market growth. 

Plastic Bag Market Segment

• Based on bag type, the zipper bags segment held the largest share of the arket in 2023, owing to their high usage for storing food items and healthcare products. These bags provide airtight seals when closed and help protect food items from moisture and other contaminants, keeping them dry, clean, and fresh for a long period.
• By material, the polyethylene (PE) segment is projected to grow rapidly in the coming years. PE material has a neutral pH level that protects against harsh chemicals. It is a versatile material that can be molded into various shapes. PE bags cannot break or tear easily, making them suitable for packaging various products. The rising demand for hygienic bags with advanced barrier properties in the food and agriculture sectors further contributes to segmental growth. 
• By distribution channel, the direct sales (manufacturers) segment dominated the plastic bag market in 2023 due to its low cost compared to indirect sales. Direct sales channel eliminates the need for middlemen, offering businesses greater control over the sales process and distribution channels. 
  

Competitive Landscape & Major Breakthroughs in the Plastic Bag Market

The plastic bag market continues to evolve rapidly, with a large number of players operating in the market. Major players such as Associated Bags, Akshar Packaging, Aim Plastic Pack, Bag Ladies, Polypro Packaging, Champion Plastics, Marlex Poly Plast, Pearl Industries, Time Technoplast Limited, Essel Propack Limited (EPL), and Mutual Plastics LLC are using various development strategies to gain competitive edge.

In September 2024, EPL received Factory of the Year award for the overall productivity and efficiency, considering factors like production output, resource utilization, and operational costs. This demonstrates the company’s commitment to quality control, adherence to quality standards, and continuous improvement.

Recent Developments in the Market

• In April 2024, SABIC, Napco, and FONTE have joined forces to launch the first bread packaging made with fully recycled post-consumer plastic in the Kingdom of Saudi Arabia (KSA). These new bread bags are made using polyethylene resin grades that incorporate 100% of mass-balanced certified content of recycled feedstock from mixed post-consumer used plastics.
• In August 2024, Mondi announced its latest addition of sustainable pre-made plastic bags, FlexiBag, which features mono-polyethylene-based, recyclable packaging with improved mechanical properties like puncture resistance, stiffness, and sealability.

Discover Additional Market Trends with Our Related Reports:

• Flexible Plastic Packaging Market
  

The global flexible plastic packaging market size was USD 178.60 billion in 2022 and is projected to reach USD 289.52 billion by 2032, expanding at a CAGR of 5.0% between 2023 and 2032. The rapid shift toward flexible packaging from rigid packaging, owing to its reduced weight, improved efficiency, and low cost, drives market growth. With the rising adoption of consumer goods, the demand for flexible plastic packaging is increasing. Moreover, the rising demand for sustainable and eco-friendly packaging solutions encourages manufacturers to develop flexible packaging using biodegradable materials.

• Pharmaceutical Plastic Packaging Market
  

The global pharmaceutical plastic packaging market is anticipated to rise from USD 51,781.4 million in 2022 to hit USD 97,654.56 million by 2032, growing at a CAGR of 6.6% between 2023 and 2032. This packaging is essential in protecting pharmaceutical items from various hazards. The rising demand for pharmaceutical products worldwide significantly contributes to market expansion. Moreover, advancements in packaging technology led to the development of smart packaging solutions with RFID tracking and child-resistant packaging. The rising demand for recyclable and biodegradable plastics due to the increasing concerns about packaging waste propels the pharmaceutical plastic packaging market.

• Inflatable Bags Packaging Market
  

The global inflatable bags packaging market size is estimated to reach USD 277.68 million by 2033, up from USD 175.14 million in 2023, at a compound annual growth rate (CAGR) of 4.86% from 2024 to 2033. The versatility of inflatable bags makes them suitable for protecting fragile items. With the rapid expansion of e-commerce businesses, the demand for lightweight packaging solutions is increasing, thus boosting the growth of the market. Moreover, rising advancements in packaging technology led to more efficient air inflation systems, fueling market growth.

• IV Fluid Bags Market
  

The global IV fluid bags market size was USD 1.65 million in 2023 and is projected to reach around USD 3.23 million by 2034, expanding at a CAGR of 6.3% during the forecast period from 2024 to 2034. IV fluid bags are widely used during surgical procedures to deliver fluids, electrolytes, and medications directly into a patient's bloodstream. The rising number of surgical procedures boosts the market expansion. Moreover, rising advancements in healthcare packaging solutions contribute to market growth.

The research report categorizes the plastic bag market into the following segments and subsegments:

By Product

• Flat Bottom
• Sewn Open Mouth
• Pinched Bottom Open Mouth
• Pasted Valve
• Pasted Open Mouth
  

By Material Type

• Brown Kraft
• White Kraft

By Thickness

• 1 ply
• 2 ply
• 3 ply
• Greater than 3 ply

By End Use

• Food & Beverage
• Cosmetics & Personal Care
• Retail
• Agriculture & Allied Industries
• Building & Construction
• Chemicals
• Others
  

By Region

• Asia Pacific
• Europe
• North America
• LAMEA

View Plastic Bag Packaging Market Full TOC: https://www.towardspackaging.com/table-of-content/plastic-bag-market-sizing

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or Asia Pacific.

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About Us

Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.

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11/12/2024 11:00 -0500

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