PLASTIC BAG AND SACK MARKET ANALYSIS

1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker   Plastic Bag & Sack Market 2017–2027  A plastic bag and sack, are also referred to as polybag and is completely               composed of thin plastic film. Plastic bag and sack is widely used across           packaged industry for packaging packed food products, apparel, fresh produce,         stationery, and other product. These bags are considerably transparent, offer           flexibility and tear-resistance. Moreover, it also provides a superior moisture       barrier properties. Retail & consumer, food and beverage, institutional services,           and other industrial applications are some of the major application area of           plastic bag and sack.                                                                                            The global ​plastic bag and sack market is projected to reach around US$ 29.4             billion by the end of 2027, in terms of revenue, growing at CAGR of 4.2% during                   the forecast period (2019-2027).                                 

2. Drivers  Declining prices of oil &gas around the globe are projected to drive the market               growth of the plastic bag and sack. According to a report by the Energy               Information Administration (EIA), the global crude oil inventory rose by around         500 barrels in 2015 that translated to 40% drop in oil prices from US$ 46 per               barrel in 2014 to US$ 33 per barrel in 2015. Therefore, the declining price of oil                   &gas is encouraging manufacturer to use these raw materials for the production           of plastic bags.                                                                                          Growing focus of manufacturers to use plastic bags as a marketing platform for             the brand is estimated to foster the market growth of plastic bag and sack. For               example, printed plastic bags are providing excellent marketing tool to promote           and create brand awareness, across various end-use industries such as apparel,           consumer products, food & beverage, bakery, and others. Therefore, using           plastic bags as a form of brand promotion among various companies is               expected to fuel the market growth of plastic bag and sack.                                                                             On basis of the region, Europe region dominated the global plastic bag and sack               market in 2018, accounting for ​32% share in terms of value, followed by             Asia-pacific and North America, respectively                              Figure 1. Global Plastic Bag and Sack Market, Revenue Share (%), By Region,  2018   

3. Market Restraints  In order to reduce the usage of single-use plastic bags, various governments               around the globe are increasing taxation and also putting extra charges on the           usage of plastic bags. Growing implementation of such initiatives by the           government is expected to reduce the consumption of thin single-use           High-density polyethylene (HDPE) plastic bags, which is projected to hinder the       market growth of plastic bag and sack over the forecast period.                                                                  Increasing adoption of paper bags or with other effective substitutes of plastic             bag is projected to hinder the market growth over the forecast period. Growing               awareness regarding the harmful impact of plastic bag among consumer is         encouraging manufacturer to opt for eco-friendly packaging products.         Aforementioned factors are projected to restrict the market growth of the         plastic bag and sack over the forecast timeframe.                                                              Market Opportunities  Increasing focus of manufacturers for producing innovative plastic bags will           favor the market growth in the near future. For instance, in May 2016, Interplast               Group introduced a new and extensive line of industrial can liners developed for             environmentally-focused businesses and industries. The product is ideal for     diverse applications and is available in High-density polyethylene (HDPE) and           Linear low-density polyethylene (LLDPE), in a wide range of sizes and gauges.                                                                The growing introduction of biodegradable plastic bags is expected to impact         the market growth positively over the forecast period. For instance, in June             2019, LyondellBasell has joined forces with a Finland-based energy company to           produce two forms of plastics made from renewable sources instead of fossil             fuels. The company has partnered with Neste, an oil refiner, and producer of           renewable diesel, to create a new bio-based polypropylene and low-density             polyethylene products, two of the most common types of plastics.                                                                               

4.       Figure 2. Global Plastic Bag and Sack Market– Opportunity Analysis    Market Trends  The global plastic bag and sack industry is experiencing an ongoing trend of             strategic acquisitions and mergers among major players who are actively         looking to expand their presence around the globe. This ongoing trend is           expected to foster market growth over the forecast period. For instance, in           February 2018, Arkansas-based Delta Plastics has acquired California-based         plastics firm Command Packaging, along with its Encore Recycling subsidiary.         Command Packaging, based in Los Angeles, makes plastic carryout bags for           the food service, grocery, and retail markets.                                                                                        Growing focus of manufacturer to recycle the plastic content is gaining traction           in the market and this is expected to propel the market growth of plastic bag                 and sack over the forecast period. The advent of a plastic bag with highly             recycled plastics content is projected to reduces carbon emissions and carbon           footprint of the companies and help them to contribute to the environmental             sustainability. This factor is expected to propel the market growth.                                                                       

5. Figure 3. Global Plastic Bag and Sack Market, Revenue Share (%), By  Application, in 2018    On the basis of application, in 2018, retail & consumer application accounted               the largest market share of 69% in terms of value, followed by industrial and               institutional respectively.                          Figure 4. Global Plastic Bag and Sack Market – Value Chain Analysis   

6. Competitive Section  Key players operating in global plastic bag and sack are AEP Industries Inc.,             Mondi Group, Berry Plastics Inc., Alpha T-shirt, Novolex, Ampac Holdings LLC,           Bischof & Klein GmbH & Co. KG, Inteplast Group, Starlinger & Co Gesellschaft               M.B.H, Da Nang Plastic Joint Stock Company, Hanoi Plastic Bag JSC, Goglio             Group, Schur Flexibles Group                                                      1. Request Sample Report 2. Download PDF Brochure 3. Request Customization 4. Talk to Analyst Reference https://www.coherentmarketinsights.com/market-insight/plastic-bag-and-sack-market -3470 About Us: Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. What we provide: •​Customized Market Research Services

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