Plastic products are widely used and they are in great demand in domestic as well as global market. The plastic industry is growing at a fast pace due to its usage for packaging products. According to the latest study findings, the global plastic bag and pouch manufacturing market are currently in a very crucial phase of transformation. To pour more light on this, Market Research Hub (MRH) has publicized a study titled “Plastics Bag and Pouch Manufacturing: Global Markets to 2020” to its massive database, which offers a holistic outlook of the market covering market trends, factors along with industry growth prospects from 2012 to 2016, and forecast to 2020.
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Research Inclusion and Key Highlights
Presently, increased consumption of processed foods, poultry, meat and agricultural products in the emerging countries has created wide demand for industrial packaging products. On the other hand, growing concern and awareness over the harmful effects of plastic waste is increasingly repelling customers from plastic bags and pouches. Keeping this in mind, plastic bag and pouch manufacturers have now perfected the technology of creating products that will not harm the customers and the environment as well. As per the active research evaluations, the market for plastic bag and pouch manufacturing reached a value of nearly $18.9 billion in 2016 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% to nearly $22.2 billion by 2020.
Restaurants, retail stores, and shops around the world are gradually demanding paper bags, cloth bags, and recyclable bags. These factors are generating demand for plastic bags and pouches to meet high expectations. The highest growth is projected to come from plastic pouches, which is forecast to grow at a CAGR of 4.7%.
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The authors of the global plastic bag and pouch manufacturing market report have employed exhaustive primary and secondary research for exploring the key factors of the industry, including the competitive landscape. Moving further, an in-depth analysis of the trends prevalent in the global plastics bag and pouch manufacturing market along with the dynamics that are anticipated to impact the market growth. Looking to the market competitiveness, analysts find that due to the presence of few large players, the market is consolidated. In the present time, major players in the plastic bag and pouch manufacturing market are Amcor Limited, Inteplast Group, Sealed Air Corporation, Novolex, and Bemis Company Inc., among others.
Moreover, the market has been analyzed on the basis of product type, type of material and geographical segmentation. The geographical outlook of the report highlights market size and forecast growth during 2017 to 2022, in Europe, Africa, Asia Pacific and North America. In terms of geography, USA is the largest market in terms of value and is driving the market for plastic bag and pouch manufacturing. India and Russia are expected to have the fastest growth, growing at a CAGR of 6.9% and 5.0%, respectively.
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