Jute Bags Global Market Report 2024

Jute bags are made from natural fibers of the jute plant and offer environmental benefits such as good insulation and moisture retention. They are available as jute sack bags and jute shopping bags.

Jute bags come in two main types such as jute sack bags and jute shopping bags. Jute sack bags are sturdy and capable of carrying heavy food items, often used for packaging and transport purposes. They are available in different price ranges and are used by both retail and institutional customers.

The jute bags market size has grown rapidly in recent years. It will grow from $2.56 billion in 2023 to $2.87 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to environmental concerns and eco-friendly movement, government policies and subsidies, shift from plastic to natural fibers, promotion of handicrafts and artisanal products, corporate adoption of eco-friendly practices.

The jute bags market size is expected to see rapid growth in the next few years. It will grow to $4.51 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to increasing environmental concerns, consumer preference for sustainability, rise in anti-plastic movements, expansion of retail and e-commerce, fashion and design innovations. Major trends in the forecast period include sustainable fashion movement, government initiatives and regulations, corporate social responsibility (csr), shift from single-use plastics, fashion and design trends.

The jute bags market size has grown rapidly in recent years. It will grow from $2.56 billion in 2023 to $2.87 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to various factors, including increasing environmental concerns and the global eco-friendly movement. Government policies and subsidies have incentivized businesses and consumers to adopt more sustainable practices. There has been a notable shift from plastic to natural fibers in packaging materials, driven by a desire to reduce environmental impact. The promotion of handicrafts and artisanal products has also contributed to this growth, as consumers seek unique and sustainable alternatives. Many corporations have adopted eco-friendly practices as part of their corporate social responsibility initiatives, further driving the demand for eco-friendly products and solutions.

The jute bags market size is expected to see rapid growth in the next few years. It will grow to $4.51 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The anticipated growth in the forecast period can be attributed to increasing environmental concerns, consumer preferences for sustainability, a rise in anti-plastic movements, the expansion of retail and e-commerce, and innovations in fashion and design. Major trends expected in this period include the sustainable fashion movement, government initiatives and regulations, corporate social responsibility (CSR) efforts, a shift away from single-use plastics, and evolving fashion and design trends.

The increasing popularity and demand for environmentally friendly products are driving the expansion of the jute bags market. Eco-friendly packaging solutions are being developed on a large scale in response to shifts in consumer behavior and attitudes. Businesses worldwide are prioritizing eco-friendly packaging due to its cost-saving benefits, positive impact on brand image, recyclability, and sustainability. For instance, a 2021 survey by the U.S. Cotton Trust Protocol found that 61% of brands and companies reported a rise in demand for environmentally friendly goods. As a result, the growing preference for environmentally friendly products is expected to fuel the jute bags market's growth in the years ahead.

The rise of e-commerce, representing online buying and selling activities, is expected to fuel the growth of the jute bags market. Jute bags are utilized in e-commerce as environmentally friendly packaging solutions, aligning with sustainability practices in product delivery and reducing environmental impact. Notably, the considerable increase in U.S. retail e-commerce sales, reaching $277.6 billion in the second quarter of 2023, indicates the substantial growth potential for industries related to e-commerce packaging, such as jute bags, as eco-friendly packaging solutions gain prominence.

The emergence of bioplastic jute poly bags represents a significant trend in the jute bags market, offering a sustainable alternative to traditional polythene bags. These innovative bags have versatile applications, serving as packaging solutions for various purposes such as garments, rice, sugar, red gram, and even dairy milk, provided there's no risk of contamination or compromise in quality. In 2021, a Bangladeshi scientist successfully developed a bioplastic jute poly bag using jute polymer. This bag not only matches the quality of conventional polythene bags but also stands out for its eco-friendliness, reusability, and biodegradability. Remarkably, these bags are entirely environmentally friendly and can seamlessly integrate with the soil within 3 to 4 months, contributing to a sustainable and eco-conscious packaging solution.

Major companies in the jute bags industry are increasingly making investments to capitalize on development opportunities and address the shortage of jute. Investment involves allocating funds or resources to a project, venture, or asset with the expectation of generating income, profit, or future value appreciation. For example, in September 2021, Gloster Ltd., an India-based manufacturer of jute and jute-based products, signed a Memorandum of Understanding (MoU) with the Telangana government to establish a ₹3.3 billion ($0.04 billion) jute and jute-based products manufacturing unit in Warangal, India. This strategic move aims to alleviate the shortage of gunny bags in Telangana, especially with the region experiencing a surge in paddy output. The new facility is projected to produce 50 million jute bags annually and create direct employment opportunities for over 2,500 rural youth.

In September 2022, LC Packaging, a US-based packaging solutions company, acquired Karl Weiterer GmbH for an undisclosed amount. This strategic move was aimed at expanding LC Packaging's jute bag product portfolio and extending its market reach across Europe. Karl Weiterer GmbH, based in Germany, is renowned for its expertise in the development and manufacturing of bags for handcrafted products.

Major companies operating in the jute bags market report are Ludlow Jute And Specialities, B R Packaging, Gloster Limited, AI Champdany Industries Ltd., Jamia Jute Bags, Budge Budge Company Limited, Go Green International Jute Bags, Krishna Jute Bags Company, Bangla Jute Mills, Aarbur, Bangalore Fort Farms Ltd., National Jute Mills, Cheviot, Hitaishi-KK, G-BAGS (Greenotechindia), Premchand Jutex, Light Cees Jute Bag, Churiwal Technopack Private Limited, Ashoka Exports, Shree Jee International India Ltd., LMC Global Private Limited, Aamin International Company, Basu Jutex Private Limited, Diamond Jute Mills, Howrah Mills Co. Ltd., Nuzhat Jute Bags Factory Private Limited, Goyal Jute Fabricator, Megha Jute Mills, New Central Jute Mills, Angus Jute Mills, The Hooghly Mills Company Limited

Asia-Pacific was the largest region in the jute bags market in 2023. The regions covered in the jute bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the jute bags market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The jute bag market consists of sales of jute lunch bags, jute laptop bags, jute carry bags, grocery bags, and office-purpose bags. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Jute Bags Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on jute bags market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for jute bags ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The jute bags market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 1) By Type: Jute Sack Bags; Jute Shopping Bags
• 2) By Price: Premium; Mass
• 3) By Application: Household; Commercial
• 4) By End-Use: Retail; Institutional
• Companies Mentioned: Ludlow Jute And Specialities; B R Packaging; Gloster Limited; AI Champdany Industries Ltd; Jamia Jute Bags
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.