PUBLISHER: SkyQuest | PRODUCT CODE: 1183346
PUBLISHER: SkyQuest | PRODUCT CODE: 1183346
Global Shopping Bag Market is estimated to be USD 10.87 million in 2021 and is projected to reach USD 12.83 million by 2028, at a CAGR of 2.8% during the forecast period (2022-2028).
Technical developments in cart production are one of the main factors that are going to fuel the expansion of the global shopping bag industry. To save costs and shorten production times, many manufacturers have increased their usage of contemporary technology, such as laser cutting, for shopping cart production. Additionally, because the workpiece is not deformed or warped during the laser-cutting process, high-quality sheet metal products are produced. Additionally, laser cutting is efficient and economical because it eliminates the need for costly hard tooling. Manufacturers of shopping bags employ a number of cutting-edge technical methods to provide customers with high-quality carts.
Top-down and bottom-up approaches were used to estimate and validate the size of the global shopping bag market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The global shopping bag market is segmented based on the product type, by material , by distribution channel, and region. Based on the product type, the market is segmented as reusable bags , non- reusable bags. Based on the material, the global market is segmented into paper, cotton, jute & hemp, plastic. Based on distribution channel, the market is segmented into Hypermarkets & supermarkets, Convenience stores, Online stores, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
The increased need for lightweight, affordable, and practical packaging solutions across a range of end-use sectors is directly related to the increase in shopping bag sales across the globe. Furthermore, it is anticipated that the flexibility, tear-resistance, transparency, and moisture protection afforded by plastic bags would further speed up the market's expansion.
Restraint
The expected decrease in demand for upmarket shopping bags results from the widespread availability of affordable alternatives. During the projected period, the availability of low-quality bags creating health concerns would also restrain market expansion.
Market Trends
The retail industry has seen substantial expansion over the last few years as a result of peoples' changing lifestyles and increasing disposable income. People's purchasing preferences have changed from traditional to online shopping as a result of the introduction of online delivery services. Modern retail establishments like supermarkets, hypermarkets, and convenience stores have also grown significantly. In the last few years, there has been a tremendous increase in global retail sales, including both online and in-store purchases.