NEWARK, Del, June 13, 2023 (GLOBE NEWSWIRE) -- The multiwall bags market is anticipated to expand its roots at an average CAGR of 4.6% between 2023 and 2033. The market is expected to have a market share of US$ 15.57 billion by 2033 while it is likely to be valued at US$ 24.42 billion in 2023.

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Key Takeaways:

  1. The United States market leads the multiwall bags market in terms of market share in North America. The United States region held a market share of 18.3% in 2023. The growth in this region is attributed to the expanding outlets, attractive creative packaging, and sustainable packaging. North America region held a significant market share of 27.1% in 2022.
  2. Germany market is another successful market in the Europe region. The market holds a market share of 4.3% in 2022. The growth is attributed to the bans on plastic packaging and growing awareness around carbon emissions. Europe region held a market share of 24.7% in 2022.
  3. India’s multiwall bags market booms at a CAGR of 6.0% during the forecast period. The market’s growth is attributed to proliferating packaged food sales along with the focus on promoting paper bags.
  4. China's market also thrives at a CAGR of 5.6% between 2023 and 2033. The growth is caused by the high penetration of innovative ideas.
  5. Based on material type, the plastic segment held the leading market share of 70.6% in 2022.
  6. Based on end-use type, the food segment performs well as it held a leading market share of 38.3% in 2022.

Competitive Landscape:

The key vendors focus on enhancing the bag quality, adding many layers, and applying different types of papers. Key competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

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Recent Market Developments:

Key Players Operating in this Market:

Key Segments Covered:

By Material:

By Capacity:

By End-use:

By Region:

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Table of Content (ToC):

1. Executive Summary

2. Market Overview

3. Market Background

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity

7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use

8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region

9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-14352

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Europe Bulk Bags Market Demand: The rising demand for shipping industrial chemicals and mining products in bulk with safety has led to increasing manufacturing of bulk bags such as antistatic bags cross corner bags and others. Apart from this, the demand for superior and contamination-free solutions for food and agriculture product delivery is enabling wider adoption of United Nations (UN) certified food bags and bulk bags. The increasing use of these bags in various industrial sectors is pushing sales in Europe.

North America Silo Bags Market Size: The North American silo bags market is estimated to be valued at about US$ 47.2 million in the current year 2023. As per the North American silo bags market analysis by FMI, it is projected to follow a CAGR of 5% until 2033. This analysis report further predicts the North American silo bags market value to reach up to US$ 76.9 million by the end of 2033.

Jumbo Bags Market Share: Jumbo bags sales would bolster and the top 5 companies would hold around 15% of the share by 2023. The building and construction industry is expanding due to rapid infrastructural developments.

Reflective Air Bags Market Sales: North America dominated the reflective airbags market. The growth of the market in the region is attributed to the growing pharmaceuticals and cosmetics industry. Furthermore, the booming e-commerce industry is expected to boost the market demand in the Asia Pacific region.

Tote Bags Market Outlook: The tote bags market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that the tote bag sales will rise from 2022 to 2032 and is projected to create an absolute incremental growth opportunity of US$ 384.1 Million.

Craft Bags Market Analysis: A craft made from wood fiber offers maximum strength and natural beauty. Craft bags are prepared through paper produced from the chemical pulp during the crafting process. Primarily plan craft bags used for the packaging of grocery items. Generally, two types of craft bags are available in the market that is white and brown. Craft bags are used mostly for carrying lightweight products such as fresh vegetables and fruits.

High Abuse Shrink Bags Market Value: According to the U.S Food and drug administration, sales of fresh meat majorly accounts for about 65% of the overall food sales thus creating ample opportunities for high abuse shrink bags consumption, which in turn driving high abuse shrink bags market. Moreover, the food sector coupled with food service restaurants has shown promising growth in recent past years which is fueling the growth of meat packaging as well as the high abuse shrink bags market.

Silo bags Market Volume: The length of these bags depends on the quantity of material to be stored and the machine used for packing purposes. As the cultivable land is decreasing, the demand for silo bags is gradually increasing as they are being used to protect grains from any kind of external damage.

Resealable Packaging Bags Market Growth: According to the FMI analysis, the re-sealable packaging bags market revenue totaled US$ 2.2 Billion in 2022. With the propelling demand from the various end-users, the global re-sealable packaging bags market is projected to reach US$ 3.9 Billion by 2033, accelerating at a CAGR of 5.3% during the forecast period.

Paper Bags Market Strength: The new paper bag is expected to hold around 15 kg of products and supermarkets have selected the carrier bag for trial purposes for the next 10 months. These paper carrier bags have been tried and tested to ensure smooth durability and strength.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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