During the projected period, the kraft paper shopping bag market is expected to grow at a promising CAGR of 3.9 percent. The market is currently worth US$ 5.2 billion and is expected to grow to US$ 7.47 billion by 2032.
Concerns about climate change are driving up demand for Kraft paper shopping bags, which is being followed by a demand for biodegradable paper shopping bags. As consumers become more mindful of the overuse of biodegradable items, kraft paper shopping bags are becoming more popular.
As more stores and food franchises develop, the demand for Kraft paper shopping bags is growing. Bleached, unbleached, specialty and recycled bags are all available. Among the various types of bags, Kraft paper shopping bags are the most popular, causing the industry to expand rapidly and creating demand for kraft paper shopping bags.
What are the Market’s Major Drivers and Restrictions for Kraft Paper Shopping Bags?
With the up-gradation of packaging ideas where the visual appeal and shelf life provide premier quality, paper-based packaging such as kraft paper shopping bags has gained popularity in recent years.
Furthermore, when compared to other forms of paper bags, kraft paper shopping bags are more convenient and durable. During the forecast period, cost-effective packaging solutions such as kraft paper shopping bags are likely to generate growth prospects for the kraft paper shopping bag market, increasing kraft paper shopping bag sales.
Food & beverage, personal care & cosmetics, electrical & electronics, textile, and other end-use businesses can all benefit from kraft paper shopping bags. Furthermore, the printing ability of kraft paper shopping bags contributes to the product’s brand awareness.
Which region has the largest market for Kraft Paper Shopping Bags?
Throughout the forecast period, the United States is likely to dominate the kraft paper shopping bag market in North America. The kraft paper shopping bag market is predicted to grow significantly in the Asia Pacific region, particularly in India and China.
Furthermore, the kraft paper shopping bag market in the Middle East and Africa (MEA) is predicted to rise slowly throughout the forecast period.
How is the market for Kraft Paper Shopping Bags competitive?
To thrive in business, the leading players in the Kraft paper shopping bag market are focused on improving and implementing strategies such as increasing the durability, sizes, and use as secondary packaging solutions. Kraft paper shopping bags are selling well as a result of this.
Smurfit Kappa Group, The Mondi Group, International Paper Company, Novolex Holdings Inc, BillerudKorsnas AB, and WestRock Company are among the major participants in the kraft paper shopping bag market.