23-Dec-16 The global plastic bags & sacks market is projected to increase at a CAGR of over 3.4% during the forecast period (2016–2024) owing to various factors, as per Transparency Market Research (TMR). A plastic bag or a polybag is a type of container usually made of thin, flexible plastic film and non-woven fabric through the process of extrusion. Plastic bags & sacks are used to carry and transport goods across a number of end-use industries such as chemicals, food & beverages, pharmaceuticals, hospitality, industrial products, and healthcare. Increasing demand for consumer goods, food & beverage, and grocery in the retail industry, followed by significant increase in the number of modern retail formats such as hypermarkets, supermarkets, and convenience stores are expected to fuel demand for plastic bags & sacks. Also, stringent policy and regulatory landscape as well as actively imposed bans on the use of lightweight and single-use plastic bags have been major challenges for plastic bag manufacturers worldwide.
The global plastic bags and sacks market is segmented on the basis of material type into biodegradable and non-biodegradable. Biodegradable segment is further sub-segmented into polylactic acid (PLA), polyhydroxyalkanoates (PHA), starch blend resin, and others. Non-biodegradable segment is sub-segmented into high density polyethylene (HDPE), low density polyethylene (LDPE), linear low density polyethylene (LLDPE), polypropylene (PP), polystyrene (PS), and others. Non-biodegradable segment accounts for significant share in terms of volume of the total plastic bags and sacks market; however, biodegradable segment is anticipated to witness an impressive CAGR over the forecast period. By non-biodegradable segment, HDPE sub-segment is expected to dominate in terms of volume; however, LLDPE sub-segment, followed by LDPE sub-segment, is anticipated to be the most attractive in terms of growth rate. On the basis of product type, the global plastic bags and sacks market is segmented into T-shirt bags, gusseted bags, lay flat bags, trash bags, rubble sacks, woven sacks, and others. On the basis of application, the global plastic bags & sacks market is segmented into retail & consumer, institutional, and industrial. Retail & consumer segment is further sub-segmented into grocery products, food & beverage, clothing & apparel, and others.
On the basis of region, the global plastic bags and sacks market is segmented into North America, Europe, Latin America, Asia Pacific (APAC), and Middle East and Africa (MEA). Europe is estimated to dominate the global plastic bags & sacks market in terms of revenue, followed by North America. However, Asia Pacific is expected to increase at the highest CAGR and is expected to be the most attractive region in the global plastic bags & sacks market over the forecast period.
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