Multiwall Bags Market Size Is Estimated To Rise To USD 14.4 Billion By 2025: Report by MarketsandMarkets™
The global Multiwall Bags Market is expected to reach $14.4 billion by 2025, growing at a CAGR of 3.5% from 2020 to 2025. Multiwall bags are made of multiple layers of paper, polyethylene, or other materials and are used for packaging products such as food, chemicals, and building materials. The growing demand for durable and flexible packaging, coupled with the increasing demand for packaging in various industries, is driving the growth of the multiwall bags market.
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In terms of volume, plastic bags is estimated to lead the multiwall bags market in 2019.
Plastic bags are estimated to lead the multiwall bags market in terms of volume in 2019 due to their widespread use in various industries, including food and beverage, pharmaceuticals, and chemicals, among others. The ability of plastic multiwall bags to protect products from moisture and other external factors, coupled with their affordability and versatility, has contributed to their popularity and dominant market share.
In terms of value and volume, 2-ply segment is estimated to lead the multiwall bags market in 2019.
The 2-ply segment is estimated to lead the multiwall bags market in terms of both value and volume in 2019. This is due to the high demand for 2-ply multiwall bags, which are used in a wide range of industries, including food, chemicals, and agriculture. The 2-ply segment offers a good balance between cost-effectiveness and functionality, making it a popular choice among end-users. Additionally, the increasing demand for flexible packaging and the growing awareness of sustainability are also contributing to the growth of this segment.
Food & grains is estimated to be the largest segment in the multiwall bags market in 2019.
Food & grains, by end-use industry, accounted for the most significant demand for multiwall bags in 2019, in terms of value and volume. This dominant market position is attributed to the boost in demand for convenient and sutainable packaging solutions across the food industry. A large number of multiwall bags are used in the food industry for fresh food, meat, fish, seafood, fresh produce, poultry, and ready meals. With the increase in demand for convenience and quality food products, people opt for packaged foods, the market for multiwall bags has also experienced a rise in its demand.
The European region is projected to account for the largest share in the multiwall bags market during the forecast period.
The Europe region is projected to lead the multiwall bags market, in terms of both value and volume from 2020 to 2025. However, The European market is expected to grow at a relatively slower rate, while the APAC market is projected to grow at a rapid pace (particularly India), primarily due to the abundant availability of raw materials such as kraft paper in the region. Whereas, the North American region is expected to witness fair growth due to the increased demand from end-use industries, such as food & beverages, pharmaceuticals, agriculture, and chemicals.
APAC is the growth engine of this market with a maximum consumption of paper and plastic bags across the application areas. The region was the largest market for multiwall bags in 2019. The food & beverages segment is projected to lead the multiwall bags market in the region, owing to the increasing demand for protective and barrier coated packaging to retain and maintain the shelf life of food items.
Mondi Group (Austria), Berry Global Inc. (US), Sonoco Products Company (US), Hood Packaging Corporation (US), El Dorado Packaging, Inc. (US), Lincon Polymers Pvt. Ltd. (India), ProAmpac Holdings Inc. (US), Global-Pak, Inc. (US), LC Packaging (Netherlands), NNZ Group (Netherlands), Manyan Inc (Canada), United Bags, Inc. (US), Langston Companies, Inc. (US), Material Motion, Inc. (US), Commercial Packaging (US), MIDCO Global (US), Trombini (Brazil), San Miguel Yamamura Woven Products sdn bdh (Philippines), Oji Fibre Solutions (NZ) Ltd. (New Zealand), Nebig Verpakkingen BV (Netherlands), Sanghavi Global (India), Premier Polymer (India), Napco National (Saudi Arabia), Corman Bag (US), and Bag Supply Company, Inc. (US), among others are the key players operating in the multiwall bags market. Expansions & investments, acquisitions, partnerships, and new product developments are some of the significant strategies adopted by these key players to enhance their positions in the multiwall bags market.
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