The global market for gusseted bags was estimated to be worth USD 4.4 billion in 2024 and is expected to grow to USD 6.1 billion by the end of 2034.
NEWARK, DE / ACCESSWIRE / August 6, 2024 / The gusseted bags market has been growing rapidly in recent years, with its valuation reaching an estimated USD 4.4 billion in 2024. The market is expected to progress at a CAGR of 3% through 2034, with its valuation surpassing USD 6.1 billion by 2034.
One of the major drivers of this growth is the increasing demand for eco-friendly packaging solutions. Consumers are becoming more environmentally conscious and are looking for sustainable and biodegradable packaging materials.
Gusseted bags are designed to be lightweight and easy to carry, making them an ideal choice for consumers who are always on the go. The food and online delivery industry have been the largest contributors to the growth of this segment. The need for quality and shelf life of products has created a huge demand for these bags. The cost-effectiveness and availability of various shapes and sizes make them a preferred choice for all.
Request for a Sample of this Research Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-4003
Gusseted bags offer customization and branding elements, making them an attractive packaging option for companies looking to create a unique identity for their products and increase their market share.
Plastic gusseted bags, in particular, offer exceptional product visibility, making them the preferred choice in packaging products. They provide an excellent barrier against external factors, ensuring shelf stability and a clear view of the product. This feature is crucial, especially in the food and beverage industry, where customers prefer to see the product before making a purchase.
How is the Inclination for Sustainable Packaging Solutions Favoring the Market Growth?
Steered by the growing awareness among consumers regarding hazards caused by the disposal of non-biodegradable plastic waste on the environment, the retail packaging sector is gradually shifting towards adopting green packaging solutions.
In addition to this, implementation of stringent regulations by governments in several countries regarding the use of plastics for packaging is propelling the demand for eco-friendly gusseted bags in market. Citing this trend, numerous companies are increasingly focusing on using eco-friendly materials such as paper for manufacturing gusseted bags to comply with government regulations.
Hence, increasing demand for sustainable packaging solutions especially across the food & beverage industry for packaging products such as dry fruits, coffee beans, bakery products, and others is expected to propel the demand for gusseted bags over the coming years.
"Companies that offer eco-friendly and customized gusseted packaging solutions are likely to gain a competitive edge in the market, driven increasingly by sustainability trends, convenience, and customization elements," - says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI)..
Key Takeaways from the Market Study
Plastic gusseted bags account for a significant share of 57.4% in 2024.
Retailers have contributed significantly to the gusseted bag sector, with a share of 43.1% in 2024.
The gusseted bag market in India is expected to experience exponential growth at a 6.1% CAGR through 2034.
The gusseted bag market in China is anticipated to develop at a CAGR of 4.7% through 2034.
The gusseted bag market in Thailand is projected to inflate at a CAGR of 4.3% through 2034.
The gusseted bag market in the United States is estimated to rise at a 2% CAGR through 2034.
The gusseted bag market in the United Kingdom is predicted to rise at a 1.6% CAGR through 2034.
Country-wise Analysis
How is the U.S. Gusseted Bags Market Faring?
The U.S. is projected to register the fastest growth in North America gusseted bags market between 2024 and 2024, reveals Future Market Insight.
Gusseted bags are increasingly being used for safe delivery of packaged goods from the assembling site to consumers owing to their excellent protective attributes such as waterproof, ultraviolet (UV) protection, impact withstanding, and others. Hence, rapidly expanding e-commerce industry across the country is expected to create lucrative growth opportunities in the market.
Furthermore, increasing advancements in gusseted bags are leading to their applications in packaging and storing of paints, fertilizers, food grains, and dry food products. This is projected to augment the growth in the U.S. market.
Why is the Demand for Gusseted Bags Surging in the U.K.?
As per FMI, the U.K. is estimated to hold a significant share in the Europe market over the assessment period. Increasing use of gusseted bags as secondary packaging solutions for carrying groceries, fruits, vegetables, and bakery products is a primary factor propelling the demand in the U.K market.
Also, growing popularity of gusseted bags across the food and beverage industry owing to its ability to keep the products fresh for a long time and attributes such as easy to carry, lightweight, and cost-effective is favoring the growth in the market.
What are the Factors Accelerating the Sales of Gusseted Bags in India?
The trend of using eco-friendly packaging solutions is making deeper inroads in the packaging industry. This has in turn encouraged the leading food & beverage manufacturers to shift their focus in favor of packaging solutions made by biodegrading material such as paper.
In addition to this, implementation of regulations to adopt environment-friendly materials for packaging and the imposition of ban on the use of single-use plastic as secondary packaging solution by the Food Safety and Standards Authority of India is favoring the growth in the country.
Competitive Landscape
Market players are focusing on expanding their offerings in packaging solutions by adding novel products to gain a competitive edge. Manufacturers are aiming at collaboration, merge, and acquisition with other players to strengthen their footprint in the market.
Some of the companies in the market are United States Plastics Corp, Columbia Burlap & Bag Company, Altapac, Poly Pak Plastics, ELKAY Plastics, Associated Bags, Maco PKG, Clear View Bag Company, International Plastic, Pacific Bag Inc., and PBFY Flexible Packaging.
Recent Developments:
TricorBraun's acquisition of Pacific Bag on January 10, 2019, helped the company establish a new flexible packaging division, expanding its product line.
Old Trapper Smoked Products introduced new packaging for their beef sticks on September 1, 2021, featuring a gusseted bag to improve product freshness and visibility.
Major Companies in Gusseted Bag Market
United States Plastics Corp
Columbia Burlap & Bag Company
Altapac, Poly Pak Plastics
ELKAY Plastics
Associated Bags
Maco PKG
Clear View Bag Company
International Plastic
Pacific Bag Inc.
PBFY Flexible Packaging
TekPak Solutions
American Plastics Company
Others
Seize the Opportunity: Get Report Now for a Thorough Report: https://www.futuremarketinsights.com/checkout/4003
Segmentation of Gusseted Bag Market
By Material:
The sector is divided bifurcated into plastic and paper, based on material. Plastic material includes polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polylactic acid (PLA), and others (PVC, PS, etc.). Paper material includes brown kraft and white kraft.
By Distribution Channel:
Direct sales (manufacturers), distributors, brick-and-mortar stores, and E-retail are categorized as top distribution channels of this industry.
By End Use:
Retail, commercial, institutional, and households are key end users of the gusseted bag market.
By Region:
Regional industry analysis has been carried out in key countries of North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail's strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor's Degree in Mathematics.
Have a Look at Trending Research Reports on Packaging Domain:
The paper bag market size is anticipated to reach a valuation of USD 8.7 billion by 2034, progressing at a CAGR of 4.3% from 2024 to 2034.
The global foodservice paper bag market is expected to increase at a CAGR of 3.1% from 2024 to 2034, the sales revenue of foodservice paper bag is projected to be worth USD 1293.3 million.
The global food bags market size is expected to increase from USD 824.0 million in 2023 to USD 1,594.3 million by 2033, the global food bag sales are likely to soar at 6.8% CAGR.
The fast food bag market demand is projected to progress at a CAGR of 5.5% over the forecast period from 2024 to 2034. By 2034, the market is expected to reach USD 830.2 million.
The trash bag market sales is anticipated to reach USD 19.5 billion by 2034. The market is further expected to surge at a CAGR of 5.6% during the forecast period 2024 to 2034.
The grocery bag market value is at USD 12.8 billion in 2024. From 2024 to 2034, the market is on its way to progress at a CAGR of 4.60%. By 2034, the market has the potential to reach USD 20.1 billion.
The seed paper bag market growth is set to develop at a sluggish but consistent CAGR of 2.70% through 2034 and projected to take the market valuation to USD 213.20 million by 2034
The global hemp paper bag market is anticipated to reach a value of USD 1,305.9 million by 2034. Covering global borders at a CAGR of 7.1% with outstanding growth in the past few years, the industry has seen significant success.
The sales of water soluble bags hold the potential to touch the valuation of USD 1,314.2 million by 2034. This indicates a CAGR of 2.70% during the forecast period.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter | Blogs | YouTube
SOURCE: Future Market Insights Inc.
View the original press release on accesswire.com
