Global Counter Bags Market demand is anticipated to be valued at USD 1,428.4 million in 2023 and is forecasted to expand at a CAGR of 4.2% from 2023 to 2033. This growth is attributed to increasing demand for food and beverage packaging and the overall market value could be USD 2,155.4 million by 2033.
During the years from 2018 to 2022, a CAGR of 3.7% was registered for the overall market.
Many supermarkets and retail stores are growing worldwide. The tough competition in this market is pushing retail and supermarket chains to invest in brand awareness, packaging, etc. Counter bags are a type of bag that are used by retail stores or supermarkets at their counters to pack customer-purchased items.
The company’s logo or brand’s name can be printed for promotional purposes. These are made of paper, plastic, jute, and others. These bags come in a wide variety of colors, shapes, and designs.
The usage of these bags ranges from packing a bundle of books or readymade cloth to packing pharmaceuticals at a pharmacy or meat at a butcher shop. Counter bags are flexible in nature.
| Report Attributes or Data Points | Details |
|---|---|
| Global Counter Bags Market Valuation in 2022 | USD 1,370.8 million |
| Estimated Global Market Share in 2023 | USD 1,428.4 million |
| Forecasted Global Market Size by 2033 | USD 2,155.4 million |
| Projected Global Market Growth Rate from 2023 to 2033 | 4.2% CAGR |
| Historical Market Growth Rate from 2018 to 2022 | 3.7% CAGR |
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A Significantly Growing Food and Beverage Industry Drives the Market Growth
The increasing use of counter bags in the pharmaceutical, food, and beverage industry is expected to accrue significant benefits to the global counter-bags market. In today’s competitive market, brand or company promotion to achieve sales is the main concern of retail shops and supermarkets.
Customer convenience is another objective. In meeting these objectives, counter bags play a vital role. E.g. at a butcher shop, it should be convenient for a customer to carry the package without losing the freshness of the meat.
Maintaining the freshness and shelf life of meat, bakery products, flowers, and other biodegradable products is an important concern of stores. This factor can be an opportunity for a key player in the counter bag packaging market to provide a competitive edge by differentiating his products.
The technological advancement has motivated the market players to enhance their product portfolio which has contributed to the growth of the global market for counter bags.
Fluctuating Prices of Raw Materials may Impede the Growth of the Market
The stringent government rules and regulations toward the use of plastic are expected to hamper the growth of the counter bags market in the forecasting year. With increasingly complex rules and regulations, counter bag manufacturing companies are focusing on producing creative and innovative products. This may hinder the growth of the counter-bags market.
Increased competition and substituent products in the counter bags packaging market influence the manufacturers of counter bags to hugely invest in innovation, research and development, and exploration. This high capital expenditure can disturb the cash flows and EBITDA of the firm.
Volatility in commodity market prices makes prices of raw materials fluctuate. This makes manufacturers have large inventories, so manufacturers have to bear high inventory costs. The manufacturer can also enter into long-term contracts with his raw material suppliers, but it can result in opportunity loss.
All these above-mentioned factors may impede the growth of the market.
North America was the large market for counter bags and the reason for this is the growing number of retail stores and supermarkets in these regions. North America accounts for a 16% share of the total market share of the global market.
Stringent rules and restrictions regulating plastic consumption, and increased consumer awareness and expenditure also boost the growth of the market in North America. For instance, Great American Packaging is dedicated to ongoing innovation that best serves its customers and the environment.
A new Eco-Friendly product line comprised of compostable bags and film and recyclable pouches designed to increase packaging sustainability. Further, unmatched customer service and high-quality products help customers benefit from growing consumer interest in sustainable solutions.
The surging adoption of advanced technology and the presence of leading players in this region are likely to create ample growth opportunities for the market. The United States of America is more into the utilization of paper bags with concerns about the environment.
Europe accounts for 14% market share of the market. Europe holds the second-largest market share with countries like Spain, Germany, and France holding the baton.
Various industries, including food and beverage, e-commerce, and retail, have been registering high growth in Europe on account of the increasing international commerce and the implementation of favorable measures by the government. Further, the demand for counter bags for effective storage and transportation of goods is being driven by the expansion of these industries. For instance,
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The Asia Pacific is anticipated to exhibit a significant growth rate in the market over the forecast period. The growth of the market in the Asia Pacific is projected to expand due to the existence of many manufacturing industries with developing retail sectors as a result of significantly increasing urbanization and modernization.
The global market is anticipated to develop due to the high demand for small pack sizes, and ease of handling. Also, matured e-Commerce markets in these regions provide a key opportunity for the growth of the market. For instance,
In India - the online penetration of retail is expected to reach 10.7% by 2024 compared with 4.7% in 2019. Moreover, online shoppers are expected to reach 220 million by 2025.
The new entrants in the global market are continually indulging in several collaborations and highly investing in research and development activities to provide more convenient packaging solutions to the end-users in different industry verticals.
FMPT ECO PAPER BAGS, Carrier Bags, and Surya Enterprises are some of the leading start-ups in the market.
Key Participants Present in the Global Counter Bags Market
BAF Printers (1962) Ltd., Sirane Ltd., Welton Bibby & Baron, Delpac Limited, Tingue, Brown & Co., and Rx Systems, Inc. among others are the key participants in the global market.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as BAF Printers (1962) Ltd., Sirane Ltd., and Welton Bibby & Baron account for a considerable market size. Several regional-level players are also operating across key growth regions, particularly in the Asia Pacific.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 4.2% from 2023 to 2033 |
| Expected Market Value (2023) | USD 1,428.4 million |
| Anticipated Forecast Value (2033) | USD 2,155.4 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, Volume in Kilotons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Application, Packaging Material, Manufacturing, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | The United States of America, Canada, Mexico, Brazil, Germany, Italy, France, The United Kingdom, Spain, China, Japan, Malaysia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | BAF Printers; Sirane Ltd.; Welton Bibby & Baron; Delpac Limited; Tongue; Brown & Co.; Rx Systems, Inc.; International Paper Company; Crown Holdings Incorporated; Ball Corporation |
| Customization | Available Upon Request |
The market is estimated to secure a valuation of USD 738.4 million in 2023.
From 2018 to 2022, the market registered a CAGR of 3.7%.
The market is estimated to reach USD 2,155.4 million by 2033.
The food & beverages hold high revenue potential.
The United States, Spain, and India dominate the global market.
| Market Estimated Size (2023E) | USD 6.1 billion |
|---|---|
| Projected Market Valuation (2033F) | USD 9.9 billion |
| Value-based CAGR (2023 to 2033) | 4.2% |
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