The multiwall bags market is projected to expand its roots at an average CAGR of 4.6% during the forecast period. The market is likely to hold a revenue of USD 15.57 billion in 2023 while it is anticipated to cross a value of USD 24.42 billion by 2033.
FMI analysis indicates that plastic multiwall bag material is the most preferred multiwall bag type, expected to account for a share of almost 73.9% in the global multiwall bags market. The overall sales of multiwall bags have been forecasted to top USD 24.42 billion by 2033.
The plastic bags segment is expected to grow significantly during the forecast period due to the rise in demand for lightweight, cost-effective, and convenient packaging solutions. This is due to the surge in the application of plastic bags in the food & grains, pharmaceutical, and retail industries. During the forecast period, the worldwide plastic multiwall bags market is projected to expand at a CAGR of 4.6%.
Asia Pacific might register high demand for multiwall bags during the projection period, due to factors such as:
Flexible packaging goods like multiwall bags or sacks have been in high demand from industries such as food and beverage, agriculture, and healthcare to preserve hygiene and safeguard products from any damage.
During the second quarter of 2020, the food and beverage industry saw a surge in demand for packaged foods, resulting in the increasing use of paper and plastic bags. Food, medical supplies, agriproducts, and consumer goods were all stockpiled as a result of the COVID-19 crisis.
Companies all around the world with different verticals are adopting multiwall bags as they are sustainable. The government is also subsidizing sustainable packaging businesses including the multiwall paper bags industry. Moreover, the future is expected to be plastic-less with extended research and development facilities working on carbon-less packaging solutions.
New brands with customizable packaging, colors, materials, and texts are expanding the market size. The restoration of the food and beverage industry has also helped the market flourish at a revised growth rate between 2023 to 2033.
The key element that is projected to actively drive multiwall bag sales is the rise in per capita disposable income and the quick shift in the lifestyle of common people. Similarly, the increasing use of sustainable packaging solutions and the implementation of stringent bans on plastic use might create a conducive environment for the multiwall bags market growth.
Attributes | Details |
---|---|
Multiwall Bags Market CAGR (2023 to 2033) | 4.6% |
Multiwall Bags Market Size (2023) | USD 15.57 billion |
Multiwall Bags Market Size (2033) | USD 24.42 billion |
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The global multiwall bags market is steadily growing in the last few years. Between 2015 to 2021, the market registered a CAGR of 2.2%. Due to rising demand in various industries such as food and grains, retail, and pharmaceutical, the multiwall bags market is likely to rise significantly in the future.
An increase in modern retailing, high consumer income, and an increase in packaging activities, particularly in emerging nations, are expected to drive the multiwall bags market during the forecast period.
In many nations, the e-commerce industry has had a positive impact on micro, small, and medium businesses as well as other industries, especially in light of the COVID-19 issue. During the lockdowns and temporary closures of malls and other retail outlets in the first three quarters of 2020, online stores helped to boost demand for FMCG, consumer goods, electronics, and food and beverages.
The volume of paper and plastic bags and sacks used for packing and transit has increased because of the growing demand for these items. These developments have proven crucial in driving the multiwall bags market.
Countries | Revenue Share % (2022) |
---|---|
The United States | 18.3% |
Germany | 4.3% |
Japan | 4.9% |
Australia | 2.7% |
North America | 27.1% |
Europe | 24.7% |
Countries | CAGR % (2023 to 2033) |
---|---|
China | 5.6% |
India | 6.0% |
The United Kingdom | 2.6% |
The United States has emerged as a notable market for multiwall bag manufacturers due to the expansion of the organized retail sector. Besides this, with the rise in demand for pre-packaged foods, the use of paper and plastic bags has also increased considerably.
Various industries such as food and drinks, medicines, agriculture, and chemicals are likely to drive the growth of the United States multiwall bags market in the coming years.
The healthcare industry, a low-volume consumer of multiwall bags, grew dramatically in 2020 because of the rising demand for pharmaceutical and medical supplies. FMI analysis states that from the years 2023 to 2033, the regional market is predicted to increase by 2.9%. The region also held a market share of 18.3% in 2022 while North America region held a market share of 27.1% in the same year.
With the biggest revenue share, Asia Pacific dominates the global multiwall bags market. The region's significantly growing population resulted in vital factors driving the market, which include:
The expansion of the construction industry in the region, the booming e-commerce sector, the rising demand for FMCG goods, and the expanding transportation and logistics sector have created a conducive environment for the sales of multiwall bags in India.
Cement demand is predicted to rise in India in response to the expanding construction activities. This might boost opportunities for sales of FIBC bags and multiwall paper bags. Besides this, the surging demand for agrochemicals is going to fuel the demand for efficient agricultural product packaging such as multiwall bags.
FMI states that from years 2023 to 2033, India’s multiwall bags market might grow by 6.0% CAGR.
China’s market thrives at a CAGR of 5.6% between 2023 to 2033. The growth is attributed to the expanding food and beverages business along with the government’s efforts. Furthermore, the high exports and imports are flourishing the market growth in the region.
Category | By Material TypeBy Material Type |
---|---|
Leading Segment | Plastic |
Market Share (2022) | 70.6% |
Category | By End Use Type |
---|---|
Leading Segment | Food |
Market Share (2022) | 38.3% |
Over the course of the assessment period, the plastic bags segment is likely to dominate the multiwall bags market. VIP labels can simply be converted to lineless labels. Plastics are commonly utilized in flexible packaging and are frequently employed as packaging materials. The segment held a market share of 70.6% in 2022.
FIBC (Flexible Intermediate Bulk Container) bags, jumbo bags, and bulk bags are all terms used for describing plastic-based multiwall bags. These bags are utilized in a variety of settings, including industrial, commercial, and consumer.
In terms of both value and volume, the food sector is going to remain the leading end-use industry for multiwall bags. The increase in demand for easy and sustainable packaging solutions across the food industry is sealing the segment’s dominance in the global multiwall bags market.
Food businesses use multiwall bags for packaging fresh food, meat, fish, seafood, fresh produce, poultry, and ready meals. People are opting for packaged meals due to an increase in demand for convenience and quality food products. As a result, the sales of multiwall bags might grow in the coming years. Considering this, the market held a market share of 38.3% in 2022
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To strengthen their market position and expand their product portfolio, leading market players have been adopting various expansion tactics, including mergers and acquisitions, technological breakthroughs, and new product releases.
Market Developments
The net worth of the market is expected to be USD 15.57 billion by 2023.
The market is calculated to expand at a CAGR of 4.6% through 2033.
The market expanded at a CAGR of 2.2% from 2018 to 2022.
The target market of multiwall bags is the food sector.
Plastic holds a significant market portion, gaining around 70.6% market share.
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