Nov 27, 2020, 09:30 ET
CHICAGO, Nov. 27, 2020 /PRNewswire/ -- According to the new market research report "Multiwall Bags Market by Product Type (Paper Bags and Plastic Bags), Layer (2-Ply, 3-PLy, and Others), Application (Food & Grains, Agriculture, Building & Construction, Chemicals, Retail, Pharmaceuticals, and Others), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Multiwall Bags Market size is projected to grow from USD 12.1 billion in 2020 to USD 14.4 billion by 2025, at a CAGR of 3.5% from 2020 to 2025.
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The market is projected to grow in accordance with the growth of the food & grains industry across the globe. Factors such as an increase in the innovations in packaging materials, coupled with the boosting demand for packaged food, ready-to-eat meals, and convenience food from the working population is expected to drive the market for multiwall bags.
In terms of volume, plastic bags is estimated to lead the Multiwall Bags Market in 2019.
Multiwall bags are made from materials such as paper and/or plastics, forming two or more layers. Plastic films, papers, aluminum foils, and adhesives often form a layer in multiwall bags. Based on product type, multiwall bags are segmented into paper bags and plastic bags. Multiwall paper bags are gaining momentum following the biodegradable property and regulatory guidelines with respect to plastic recycling and disposals. However, plastic bags, for the largest market share in the Multiwall Bags Market.
In terms of value and volume, 2-ply segment is estimated to lead the Multiwall Bags Market in 2019.
A multiwall bag is formed using two or more layers of papers, plastics, and aluminum foils, which are sealed using adhesive. The Multiwall Bags Market is segmented based on layers into 2-ply, 3-ply, and others that include layers of more than 3-plies. Multiple layers of plies are used to manufacture multiwall bags to make it durable and sturdy for packaging purposes. 2-ply, by layer, led the Multiwall Bags Market in 2019, in terms of value and volume. Multiwall bags with two layers of papers and/or plastics and sometimes with aluminum foils form a 2-ply bag. These are the most used multiwall bags in the market.
Food & grains is estimated to be the largest segment in the Multiwall Bags Market in 2019.
Food & grains, by end-use industry, accounted for the most significant demand for multiwall bags in 2019, in terms of value and volume. This dominant market position is attributed to the boost in demand for convenient and sutainable packaging solutions across the food industry. A large number of multiwall bags are used in the food industry for fresh food, meat, fish, seafood, fresh produce, poultry, and ready meals. With the increase in demand for convenience and quality food products, people opt for packaged foods, the market for multiwall bags has also experienced a rise in its demand.
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The European region is projected to account for the largest share in the Multiwall Bags Market during the forecast period.
The Europe region is projected to lead the Multiwall Bags Market, in terms of both value and volume from 2020 to 2025. However, The European market is expected to grow at a relatively slower rate, while the APAC market is projected to grow at a rapid pace (particularly India), primarily due to the abundant availability of raw materials such as kraft paper in the region. Whereas, the North American region is expected to witness fair growth due to the increased demand from end-use industries, such as food & beverages, pharmaceuticals, agriculture, and chemicals.
APAC is the growth engine of this market with a maximum consumption of paper and plastic bags across the application areas. The region was the largest market for multiwall bags in 2019. The food & beverages segment is projected to lead the Multiwall Bags Market in the region, owing to the increasing demand for protective and barrier coated packaging to retain and maintain the shelf life of food items.
Mondi Group (Austria), Berry Global Inc. (US), Sonoco Products Company (US), Hood Packaging Corporation (US), El Dorado Packaging, Inc. (US), Lincon Polymers Pvt. Ltd. (India), ProAmpac Holdings Inc. (US), Global-Pak, Inc. (US), LC Packaging (Netherlands), NNZ Group (Netherlands), ManyanInc (Canada), United Bags, Inc. (US), Langston Companies, Inc. (US), Material Motion, Inc. (US), Commercial Packaging (US), MIDCO Global (US), Trombini (Brazil), San Miguel Yamamura Woven Products sdnbdh (Philippines), Oji Fibre Solutions (NZ) Ltd. (New Zealand), NebigVerpakkingen BV (Netherlands), Sanghavi Global (India), Premier Polymer (India), Napco National (Saudi Arabia), Corman Bag (US), and Bag Supply Company, Inc. (US), among others are the key players operating in the Multiwall Bags Market. Expansions & investments, acquisitions, partnerships, and new product developments are some of the significant strategies adopted by these key players to enhance their positions in the Multiwall Bags Market.
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