PUBLISHER: The Business Research Company | PRODUCT CODE: 1572594
PUBLISHER: The Business Research Company | PRODUCT CODE: 1572594
Retail bags are containers utilized by retailers to transport items purchased by customers. They are available in a range of materials, sizes, and designs, tailored to the store's branding and environmental factors. These bags offer customers a practical means to carry their purchased goods from the store to their homes or other locations.
Retail bags primarily come in plastic, paper, and other materials. Plastic retail bags, crafted from polyethylene and polypropylene, are valued for their durability, flexibility, and affordability. Their strength and capacity to hold a wide range of products make them a favored option for both retailers and customers. These bags come in various patterns, such as textured, printed, and solid, and are utilized by different types of businesses, including grocery stores and food services.
The retail bags market research report is one of a series of new reports from The Business Research Company that provides retail bags market statistics, including retail bags industry global market size, regional shares, competitors with a retail bags market share, detailed retail bags market segments, market trends, and opportunities, and any further data you may need to thrive in the retail bags industry. This retail bags research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The retail bags market size has grown strongly in recent years. It will grow from $16.84billion in 2023 to $17.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The increase observed in the past can be linked to factors such as urbanization, a surge in tourism, a rise in home delivery services, growth in e-commerce, and an uptick in online shopping.
The retail bags market size is expected to see strong growth in the next few years. It will grow to $23.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The anticipated growth during the forecast period is driven by the expanding retail sector, the increasing number of shopping malls, heightened awareness of waste production, a rise in supermarkets, and growing consumer expenditure. Key trends expected in this period include technological innovations, the use of biodegradable bags, eco-friendly materials, smart packaging solutions, and subscription-based models.
The growth of e-commerce is expected to drive expansion in the retail bags market moving forward. E-commerce, which involves buying and selling goods and services over the Internet, has seen significant growth due to advancements in mobile technology, digital marketing, logistics, and supply chain management. Retail bags play a crucial role in e-commerce by facilitating the packaging and delivery process, thereby enhancing customer convenience. For example, in the first quarter of 2024, U.S. retail e-commerce sales reached approximately $289.2 billion, showing a 2.1% increase (+-0.7%) from the previous quarter, according to data from the United States Census Bureau. Therefore, the rise of e-commerce is a key driver for the growth of the retail bags market.
Leading companies in the retail bags market are focusing on innovation, particularly in developing environmentally friendly products such as locally-made retail paper bags, to promote sustainability and improve product durability. Locally-made retail paper bags are crafted within specific geographic areas or communities, offering businesses an opportunity to align with sustainability goals and support local economies. For instance, Visy Industries, an Australia-based packaging and recycling company, introduced locally-made retail paper bags in February 2024. These bags are constructed from thicker paper material, ensuring enhanced strength and durability suitable for carrying heavier items without risk of tearing. They are fully recyclable through Australian curbside recycling programs, providing consumers with a convenient and eco-friendly disposal option.
In July 2021, Novolex Holdings LLC, a U.S.-based manufacturer specializing in packaging products, acquired Flexo Converters USA Inc. to broaden its product portfolio and bolster its capabilities in producing high-quality paper bags and packaging solutions. Flexo Converters USA Inc., based in the U.S., manufactures a range of paper and plastic bags, including retail bags, contributing to Novolex's strategic expansion efforts in the packaging market.
Major companies operating in the retail bags market are Flexo Converters USA, International Paper, Smurfit Kappa Group plc, Mondi Group plc, Novolex Inc., Burberry Group plc, ProAmpac Intermediate Inc., Coveris SA, Antalis Group, Atlantic Packaging, Welton Bibby and Baron Limited, BioPak Pty Ltd., EI Dorado Packaging Inc., Global-Pak Inc., Rutan Poly Industries Inc., Atlantic Poly Inc., Attwoods Packaging, GreenPack Limited, Rainbow Packaging Inc., SPP Poly Pack Pvt Ltd., The Carry Bag Company, Kiwi Office, Europages UK
North America was the largest region in the retail bags market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the retail bags market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The retail bags market consists of sales of shopping bags, gift bags, promotional bags, specialty bags, and eco-friendly 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.
Retail 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 retail 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.
Where is the largest and fastest growing market for retail bags ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The retail 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 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.