ALBANY, N.Y., Jan. 7, 2021 /PRNewswire/ -- The demand within the global plastic bags and sacks market is set to increase at a sustainable pace in the years to follow. Use of these bags spans into a multitude of industries including packaging, healthcare, electronics, and storage. There is little contention about the environmental toll placed by plastic usage across the world. However, this realization has been of little significance in reducing the usage of plastic cans and bags across a large expanse of industries. Despite aggressive flak received by plastic bags and cans, they continue to remain a part and parcel of human chores. The utility served by these bags has played an integral role in driving sales across the global plastic bags and sacks market. Therefore, the worth of the plastic bags and sacks market is set to touch new heights in the years to follow.
The global plastic bags and sacks market is slated to grow at a sluggish CAGR of 3% over the forecast period between 2018 and 2026. The slow rate of growth can be attributed to the bans imposed on plastic usage across several key regions. Henceforth, the global plastic bags and sacks market is at an important crossroad where the leading vendors are required to assess their strategies for growth. The growing flak against plastic bags could result in their elimination from several countries. The market vendors are making robust efforts to avert the storm that has set forth across the global plastic bags and sacks market.
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Key Findings of the Report
- Use of Plastic Bags in the Packaging Industry
Until a decade ago, the packaging industry was the most prominent consumer of plastic bags and sacks. These bags are still used in large quantities across the packaging industry, but the end-users are often critical of plastic packaging. This has compelled the packaging units to explore alternatives that can replace plastic bags for consumers who are inclined towards green management and consumption. Therefore, the leading vendors existing in the global plastic bags and sacks market are exploring new opportunities for growth and advancement in recent times.
- Focus on Biodegradable Packaging
In order to meet the requirements and demands of environmental-friendly customers and campaigns, several manufacturers have shifted to selling biodegradable plastic bags. The low polyethene footprint left by biodegradable bags and sacks has given an impetus to their popularity across the global. Non-biodegradable materials such as LLDPE and LDPE are fast running out of practice. This is also an important consideration for the vendors operating in the global plastic bags and sacks market. These vendors need to be agile and dexterous in adopting new materials that are biodegradable and cause no harm to the environment.
Analyze global plastic bags and sacks market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Global Plastic Bags and Sacks Market: Growth Drivers
- Use of plastic bags across retail outlets and groceries has remained the forefront of growth within the global market.
- The low cost of plastic bags as against paper bags has led consumers to buy the former in large quantities.
- Manufacturing of biodegradable plastic bags has caused an uptick in demand for these bags. The abundant availability of these bags is also a huge plus for the leading market players.
- The quest of plastic bag manufacturers to go green in some ways have led them to increase their manufacturing of biodegradable plastics.
- Processing of plastics is much easier as compared to other materials, and this has led the end-users to prefer the former for its low cost of processing.
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Global Plastic Bags and Sacks Market: Competitive Landscape
- International Plastics Inc.
- Ampac Holdings, LLC
- BioBag International AS
- Polykar Industries Inc
- SPhere Group (Europe)
- Bischof & Klein GmbH & Co. KG
- Inteplast Group
Explore 187 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Plastic Bags & Sacks Market (Material Type - Bio Degradable, Non Bio-Degradable; Product Type - T Shirt Bags, Gusseted Bags, Lay Flat Bags, Trash Bags, Rubble Sacks, Woven Sacks, Others; Application - Retail & Consumer Applications, Institutional Services, Industrial Applications) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026 at https://www.transparencymarketresearch.com/plastic-bag-sack-market.html
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