The global canvas bags market is anticipated to witness a market value of USD 1,051.17 million in 2023 and is expected to harness a market value of USD 1,740 million by reflecting a CAGR of 5.1% in the forecast period 2023 to 2033. The market for Canvas bags market registered a CAGR of 3.9% in the historical period 2018 to 2022.
Canvas is a natural fabric which has high degree of environmental friendliness. Canvas bags are gradually replacing the use of plastic bags when it comes to carrying groceries.
These natural fabrics are biodegradable and, in the production and exploitation these canvas bags do not pose a threat on environment safety. The reusability and recyclability offered by these bags is increasing the demand of canvas bags in the market which is expected to fuel market growth during the forecast period.
One of the most important features of canvas bags is their higher level of affordability. Due to this reason, industries and brands generally use canvas bags as corporate gifts for their collaborators, colleagues, or event attendees. Canvas is an easy on pocket fabric which is making it highly affordable even for smaller advertisers and businesses and advertisers.
On the other hand, Canvas bags demand is expected to increase due to the rising number of government initiatives to spread awareness regarding eco-friendly bags.
Various NGOs also use canvas bags to promote a cause or to ignite awareness on a specific topic. Moreover, these bags are highly popular and economical amongst the consumers because of sustaining quality for value expectations. These factors are expected to create demand for canvas bags during the forecast period.
Also, high adoption of canvas bags amongst working women and growing women participation in the worldwide workforce are further boosting the growth of canvas bags market. Moreover, rising use of the canvas bags for handling of things from one place to another place without getting damage will positively benefit the expansion of market during the projected period.
The growing retail industry around the world is also propelling the growth of canvas bags market. A variety of retailers, supermarkets, hypermarkets, and specialty stores require tote bags.
This surging demand for tote bags in these retail outlets is anticipated to fuel the global canvas bag market during the forecast period. Also, celebrities and fashion leaders are usually brand savvy and prefer eye-catching tote bags that draw people's attention.
This trend will help in market expansion of canvas bags in the coming years. Furthermore, the conveniency of folding the bags and storing them in a compact space is also projected to aid in expansion of the targeted industry.
On the regional end, North America is expected to dominate the canvas bags market by accumulating 34.2% market share by end of the forecast period. Factors such as increasing preference from men and women for canvas bags to carry products and rising disposable income are augmenting market growth in this region.
Likewise, Asia Pacific canvas bags market is expected to reflect fastest CAGR of 6.2% during the projected period. will have the largest share of the market. This region is anticipated to garner around 32% market share by end of 2033.
Flourishing retail sectors in developing countries such as India and China, as well as increasing rate of working women in the global workforce are key factors responsible for growth in this region.
Countries like China have been major importers of canvas and tote bags. Increased shopping and altered lifestyle are also anticipated to contribute to the demand for canvas bags during forecast period. Popularization of new fashion trends, social media influences, and a rising young population are also some key factors expected to fuel growth in the forecast period.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 1,051.17 million |
| Projected Market Value in 2033 | USD 1,740 million |
| Growth Rate (2023 to 2033) | 5.1% CAGR |
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Latest developments in technology, mergers, acquisitions, tie-ups and partnerships within the companies involved in manufacturing Canvas bags are expected to create lucrative opportunities for market growth during the forecast period.
Regulatory bans on single use plastic by various governments across the world, canvas bags have seen hiked demand. Canvas bags have utility and can be used as fashionable accessory as well. Canvas bags attributing to their versatile nature where it can be used to carry groceries or can be carried to office or gym, are expected to witness increase in growth.
The varieties of colour, size and shapes enhance their utility which might augment its demand. Canvas bags are made of heavy duty thick cotton which enhances its durability. They are light in weight and dust and water resistant which lowers the maintenance of canvas bags.
The adoption of tote bags is rapidly growing amongst women attributing to its wide usage and variety. Furthermore, canvas bags are reusable, washable, foldable and easily storable.
The consumer concerns regarding the environment and hazards of use of plastics has led to higher adoption of canvas bags. Canvas bags are made up of recycled materials comprising of organic cotton and recycled polyester.
This is likely to augment the market demand for canvas bags. In addition, canvas bags are used by manufacturers or brand owner for marketing their brand and increasing its awareness amongst the customers. Printing on the surface on the canvas bags is economical and hence, it is widely used for marketing campaigns.
Many NGOs also use canvas bags to promote a cause or increase awareness on a specific topic. Moreover, canvas bags are highly economical and are popular amongst the customers by satisfying quality for value expectations. These factors might impact the market demand for canvas bags positively.
Government support and initiatives such as banning plastics or penalty and fines for using plastic bags has led to creation of strong demand for canvas bags. For instance, violators who use single use plastic would be implied for a fine of USD500.
In addition, manufacturers are designing lavish patterns and shapes which is likely to attract large number of customers. This is anticipated to rise the women preference for using canvas bags which is likely to hike the demand for canvas bags in the years to come.
Principal Consultant
Increasing concerns regarding the environment amongst the population is likely to grow the demand for canvas bags. Predominantly in the regions such as North America and European countries such as United States and United Kingdom, the demand for canvas bags is likely to increase.
Moreover, increase in the women participation in the workforce globally is likely to lead to high adoption rate of canvas bags primarily in the countries in the Asia-Pacific region such as India and China where the fashion industry is still emerging and the initiative by the government to protect environment is on the rise. This is likely to boost the market demand for canvas bags in the years to come.
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Canvas bags market can be segmented on the basis of type, weight and end-use.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Type 6.2. Weight 6.3. End Use 7. Global Market Analysis and Forecast, By Type 7.1. Backpack 7.2. Canvas Sling bag 7.3. Canvas Tote bag 7.4. Grocery bag 7.5. Gift bag 7.6. Others (Beach bag, etc.) 8. Global Market Analysis and Forecast, By Weight 8.1. Less than 5 oz 8.2. 6 to 10 oz 8.3. 11 to 15 oz 8.4. 16- 20 oz 8.5. More than 20 oz 9. Global Market Analysis and Forecast, By End Use 9.1. Shopping (Grocery, Retail) 9.2. Travelling 9.3. Office 9.4. Schools/ Colleges 9.5. Others (Gym, Sports) 10. Global Market Analysis and Forecast, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Oceania 10.7. Middle East & Africa (MEA) 11. North America Sales Analysis and Forecast, by Key Segments and Countries 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries 13. Europe Sales Analysis and Forecast, by Key Segments and Countries 14. South Asia Sales Analysis and Forecast, by Key Segments and Countries 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries 16. Oceania Sales Analysis and Forecast, by Key Segments and Countries 17. Middle East & Africa Sales Analysis and Forecast, by Key Segments and Countries 18. Sales Forecast by Type, Weight, and End Use for 30 Countries 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 20. Company Profile 20.1. Cross Canvas Company 20.2. Boston Bag Co. 20.3. Tarps Now 20.4. LBU, Inc 20.5. A. Amith & Son, Inc 20.6. Custom Case Co., Inc 20.7. Landes Inc 20.8. Frontier Bag Co., Inc 20.9. Carolina Covertech 20.10. Casco Manufacturing Solutions, Inc. 20.11. AmCraft Manufacturing, Inc 20.12. New Way Bag China 20.13. Union Wear 20.14. XIAMEN NOVELBAG CO., LTD. 20.15. Blivus Bags
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Canvas Bags Market
