Market Research Report
Global Food Bags Market - 2020-2027
|Global Food Bags Market - 2020-2027|
Published: February 19, 2021
Content info: 180 Pages
Delivery time: 2 business days
Substantial demand is witnessed for packaged food as it is convenient and quick. Ready-to-eat food is in demand owing to the busy lifestyles and growing urbanization. Frozen food bags are lightweight and resalable, which enhances the convenience of frozen food bags. The hectic work schedules have led to the adoption of frozen food products that require less cooking time than a course meal.
The global food bags market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
The food bags market has shown exceptional penetration in countries, such as the US, Germany, and China. Growing usage of food bags is increasing the penetration in developed countries. In developing countries, the increasing use of green packaging solutions creates opportunities for the global food bags market.
Government Focused to Phased Out single-use plastics
Considering the current market, many global countries are expecting to phase out and roll out single use plastic production in the domestic market. Also, The worst form of single-use plastics is the multi-layered packaging used in sachets for packing and storing tobacco products such as gutkha. Many other eatables such as chocolates, biscuits, chips, and liquid food products are packed in them. More importantly, industry bodies such as the US Food and Drug Administration (FDA) and the Federation of Indian Chambers of Commerce and Industry (FICCI) had raised significant concerns. According to the FICCI report, the total ban on single-use plastics would have multi-factorial effects on the food industry. Such bans would increase the FMCG products price as manufacturers would try and shift to alternative packaging. It is also expected that polythene packing for materials used in plant nurseries, medicines, blood transfusion bags, and other healthcare sector items has been exempted. Such factors will create the scope for development in the market for advanced plastics and other materials to meet the food bags demand in the market in the future
Increasing use of green packaging solutions
Green packaging, also referred to as sustainable packaging, is formed using green materials and environmental-friendly manufacturing techniques to reduce energy consumption and reduce the destructive impacts of packaging on the global environment. Green packaging solutions often include recyclable and biodegradable materials in preference to materials such as Styrofoam and plastic. Also, the green manufacturing processes initiate to reduce the number of greenhouse emissions they produce. According to the EPA, the packaging contributes to an astonishing around 78 tons of municipal solid waste per year and almost 30% of the total waste, which packaging represents a staggering 65% of all household waste.
Rising environmental awareness among global consumers is expected to reduce the demand for traditional bags and raise the demand for green packaging solutions worldwide. Moreover, such factors are expected to enhance the market sizing for the food bags and open new growth opportunities in the global food bags market during the forecast period.
COVID-19 Impact Analysis
COVID-19 eruption worldwide with affected the global economy such as supply chain disruption, directly affecting production and demand, and financial impact. This pandemic has started to show the main effects on the food bags market globally. COVID-19 pandemic poorly impacted the food & beverages packaging industry and hence also impacted the growth of the food bags market up to a certain extent worldwide. The lockdown and social distancing policies have also strengthened the food & beverage industry with increased global consumption rate. Therefore, the manufacturers are investing in scale production to meet the global market's updated demand.
Despite the pandemic, there is a surge in the overall food & beverage products demand, which is expected to drive the food bags' market size in the global market during the forecast period.
Based on the technology, the food bags market has been classified into plastic, paper, aluminum, and others.
Plastic segment accounted for the largest market share in the global market
In 2019, the plastic technology segment was expected to account for the largest share owing to its easy availability and low-cost packaging features. Moreover, the companies invest high amounts in developing plastic food bags to meet the stringent government norms. Further focus on green plastics is expected to drive the demand for the segment worldwide throughout the forecast period.
Although, the paper segment will grow at the highest CAGR in the global food bags market owing to the growth in demand to reduce the use of plastic and easy reusuable food bags.
Based on the application, the food bags market has been classified into restaurants, hotels, shops, home, and others.
Restaurants segment dominated the global food bags market in 2019
In 2019, the restaurant segment dominated the food bags market due to the food restaurant startups worldwide. The rising spending rate for food purchasing further adds value to the segment. Considering that there are over 660k restraunrants in the US in 2018, one of the leading contributing countries in the food bags market had 620k in 2016. Such a surge in the industry is expected to raise the demand for packaged products such as food bags and further to add the market size for restaurants application worldwide during the forecast period.
Based on geography, the study analyzes the food bags market in the global market, including North America, Asia-Pacific, South America, Europe, and the Middle East & Africa.
North America leads the global market throughout the forecast period
In 2019, Asia-Pacific led the global food bags market owing to developed food consuming countries such as India and China. The massive growth in the production and consumption of packaged food across the region's emerging economies such as China, India, Indonesia, Malaysia, and Singapore further drive the region's growth in the coming years.
North America is expected to lead with a significant market share in the global food bags market during the forecast period. The growth in the e-commerce industry and increasing consumption due to the surge in the number of online food ordering have further raised the demand for food bags in the domestic market throughout the forecast period
The food bags market is highly competitive, owing to the presence of big food brands. The key food bags players which are contributing to the growth of the global market include Smurfit Kappa, WestRock Company, International Paper, Berry Global Inc, Amcor plc, Packaging Pro, UNITED BAGS, INC., PAPIER- METTLER KG, El Dorado Packaging, Novolex, Rizhao Huanuo Plastic Products Co., Ltd., T.S.T. Plaspack Co., Ltd., Heshan Zhengda Composite & Packaging Co., Ltd., Shenzhen Yongliantai Plastic Bag Co., Ltd., and Chaofan Commodity CO., LTD, among others. The major players are adopting new product launch and expansion strategies for global growth in the food bags market.
Overview: Smurfit Kappa specializes in the manufacture, distribution, and sale of corrugated containers, containerboard, and other packaging products, such as graphic board, solid board, and bag-in-box. It primarily operates through Europe and the America locations. Europe covers a system of plants and mills that produces mostly a full containerboard line that is converted into corrugated containers. America covers paper, forestry, paper sack, corrugated, and folding carton activities. The company was founded in 1934 and is headquartered in Dublin, Ireland.
Product Portfolio: The company's portfolio comprises paper bags, protective packaging products, container boards, kraft liners, corrugated packaging products, kraft papers, printing and writing papers, recovered paper, packaging machinery, pulp, testliners, preprinted liners, solid board sheets, paper bags and sacks, retail packaging, postal packaging, point of sale displays, and seedlings.
The global food bags market report would provide access to an approx. 81 market data table, 91 figures, and 279 pages.
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