Published on : Jun 17, 2016
Plastic bags are thin, flexible film used to carry and transport goods. They are used by a number of end user industries such as food and beverages, chemicals, hospitality, pharmaceuticals, and industrial products. Plastic bags are one of the most common forms of minimized packaging, consuming less raw material as opposed to cartons, boxes and jars. Thus, the global plastic bags and sacks market is projected to expand at a 3.4% CAGR between 2016 and 2024, as per a report published by Transparency Market Research (TMR).
Customization of Plastic Bags – A Recent Trend in Plastic Bags and Sacks Market
Of late, a majority of the manufacturers in the plastic bags and sacks market are focusing on improving their brand visibility. Owners are capitalizing on the opportunity to use plastic bags and sacks as a promotional medium. The trend is expected to be adopted by most brands in the coming years. Plastic bag and sacks manufacturers are offering printing options to clients, giving rise to customization of plastic bags.
Rise in Number of Hypermarkets and Supermarkets Boosts Plastic Bags and Sacks Market
The rising demand for plastic bags and sacks, from grocery, consumer goods, food and beverage, and retail sectors is driving the global plastic bags and sacks market. A significant increase in the number of modern retail stores such as hypermarkets, supermarkets, and malls, has boosted the sales of plastic bags and sacks, driving the market. An overall increasing purchasing power among consumers is benefiting the plastic bags and sacks market.
On the other hand, stringent policies and regulations by government, bans imposed on the use of plastic bags, is a threat that is looming. An increasing awareness about the negative impact of using plastic is restraining many retail sectors and other industries from using plastic bags and sacks. This is expected to hamper the growth of the market.