January 15, 2018
WELLESLEY, Mass., Jan. 15, 2018–Continued economic growth, positive demographic trends, government reforms and initiatives, urbanization and increasing income levels are helping to drive the plastic bag and pouch manufacturing market, according to a report by BCC Research.
The global market for plastic bag and pouch manufacturing is expected to grow at a compound annual growth rate (CAGR) of 4.1% between 2016 and 2020, when the market could be worth $22.2 billion, according to the report Plastics Bag and Pouch Manufacturing: Global Markets to 2020.
Plastic bags accounted for the largest share of the market in 2016 at 56.7%. The highest growth rate is projected to come from plastic pouches, which is forecast to grow at a CAGR of 4.7%.
New developments in packaging are helping to fuel the market, including resealable packs, easy-opening stand-up pouches and smaller pack sizes. Leading companies in the industry include Amcor Limited, Bemis Company, Inteplast Group, Novolex Holdings and Sealed Air Corporation.
“Demand for industrial packaging products has increased recently in emerging nations,” said Gordon Nameni, BCC Research Senior Editor. “Consumption of processed foods, poultry, meat and agricultural products has increased as the size of the middle classes in these countries is also rising.”
Environmental Concerns Push Bag Market Away from Plastics
Environmental and water pollution concerns stemming from unrecycled plastic bags and pouches are affecting the market—according to one report, nearly 1 trillion plastic bags are used worldwide each year. The use of alternative packaging materials, such as paper bags, is negatively affecting the market, the report states. Some European countries, such as Germany and Denmark, have recently put in place partial or complete bans on plastic bags. Elsewhere, some supermarkets and other retail stores have started to charge for plastic bags instead of giving them away. The purpose, the report states, is to reduce the use of plastic bags and encourage the use of reusable bags.
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Plastics Bag and Pouch Manufacturing:Global Markets to 2020( PLS090A )
Publish Date: Dec 2017
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