According to Future Market Insights research, during the projected period, the global flat-bottom bags market is predicted to reach US$ 1.5 billion in 2023, and register a CAGR of 4.7% to reach US$ 2.3 billion by 2033. The flat-bottom bags market revenues are estimated to propel with the top 3 countries projected to hold 25 to 30% of the global flat-bottom bags market by the end of 2022.
Paper material by material is projected to hold the major portion of the global flat bottom bags market due to its benefits such as easy recyclability and availability. The target segment is projected to account for 68% of the global flat-bottom bags market by the end of 2023.
| Attributes | Details |
|---|---|
| Market Size 2023 | US$ 1.5 billion |
| Market Size 2033 | US$ 2.3 billion |
| Value CAGR (2023 to 2033) | 4.7% |
| Collective Value Share: Top 3 Countries (2023E) | 25 to 30% |
According to the FMI analysis, the flat-bottom bags market revenue totaled US$ 1.4 billion in 2022. With the propelling demand from the various end-users, the global flat bottom bags market is projected to reach US$ 2.3 billion by 2033, accelerating at a CAGR of 4.7% during the forecast period along with the top 5 companies holding 15-20% of the global flat bottom bags market.
The flat-bottom bags market is estimated to experience a positive growth outlook during the forecast period. A new forecast by FMI anticipates that the flat bottom bags market sales will rise from 2023 to 2033 and is projected to create an absolute incremental growth opportunity of US$ 921.2 million.
The significantly changing food industry amid the pandemic has increased the demand for the flat-bottom bags market. The flat-bottom bags market is anticipated to expand 1.7 times the current market value during the forecast period.
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The global flat-bottom bags market witnessed a growth rate of 4.4% CAGR during 2018-2022 and reached US$ 1.4 billion in 2022.
Flat-bottom bags have been a relatively well-liked sort of bag for packaging coffee. The shape of this particular bag is rectangular. The pouch's bottom is sealed and gusseted from the sides. To enable the bag to stand up upright on shelves, the bag's vertical sides have been creased. The flat bottom bags are widely used in the food and beverage industry. There is an increasing trend for packed food which drive the flat-bottom bags market. changing consumer lifestyle, increasing urbanization and increasing disposal income create higher demand for flat-bottom bags.
The adoption of the food industry drives the demand for flat-bottom bags. The increased online food orders create growth prospects for the global flat-bottom bags market. Overall, the global flat-bottom bags market is anticipated to register a CAGR of 4.7% during the forecast period.
Sales in the global food and beverage sector have been rising significantly. Supermarkets, department stores, and convenience stores all have a significant global penetration of retail outlets of all types. Rapid urbanization, growing population, and increase in disposal income these factors are driving the food and beverage industry significantly.
A growing number of individuals prefer eating out to cooking at home due to the rise in households worldwide. The high demand for construction materials is a result of the high rate of urbanization in the area. The opening of several new restaurants has increased the need for paper bags in the food and beverage industry worldwide.
These factors will create positive growth opportunities for the flat-bottom bags market over the period.
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The based on material based segment, paper material segment is expected to hold 68% by the end of 2033.
The paper has offered various eco-friendly advantages as compared to other materials. Paper material is a recyclable and recyclable material. There are now really concerned about how pollution is impacting the environment as it is rising. Therefore, many paper bag manufacturers are setting up their businesses to help in the effort to maintain the environment and the natural world. The environment would have benefited significantly from it.
Indian flat bottom bags market is projected to grow 1.5 times the current market value during the forecast period due to the growing food service industry in India. According to the National Restaurant Association of India (NRAI), the Indian restaurant industry accounts for around US$ 4 billion with more than 5 lakh restaurants in India. Thus, the expanding food service industry in India is the major factor driving the demand for the flat-bottom bags market in India.
The USA is estimated to hold a major portion of the North American flat-bottom bags market during the forecast period.
The USA is estimated to account for around 79% of the North American flat-bottom bags market. The reason behind the same is USA consumers prefer recyclable and sustainable packaging solutions due to the increasing waste resulting in landfills. According to the American Forest & Paper Association (AF&PA), in the USA, paper is one of the most widely recycled materials. The recyclability of paper packaging helps it gain traction among US consumers and drives the demand for flat-bottom bags. Furthermore, the paper recycling rate in the USA has exceeded 63% since 2009. Thus, the preference for recyclable, sustainable, and innovative packaging solutions is bolstering the demand for paper packaging including flat-bottom bags in the USA.
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The key players operating in the flat-bottom bags market are trying to focus on increasing their sales and revenues by expanding their capabilities to meet the growing demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and are developing new products to meet customer needs. Also, the players are focusing on upgrading their facilities to cater to the demand. Some of the recent key developments by the leading players are as follows -
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.7% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in tons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material, Capacity Type, End-users |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Middle East and Africa; Oceania |
| Key Countries Covered | United States of America, Canada, Germany, Italy, France, United Kingdom, Spain, Russia, Poland, Turkey, South Africa, GCC Countries, Japan, South Korea, India, China, Australia, New Zealand |
| Key Companies Profiled | Mondi Group; International Paper; Novolex; Smurfit Kappa; Pouch Makers; Layfield Flexible Packaging; Tekpak Solutions; DXC Packaging; PBFY Flexible Packaging; Pack Plus; Knack Packaging; Fine Packaging |
| Customization & Pricing | Available upon Request |
In 2022, the value of the flat-bottom bags market was US$ 1.4 billion.
During the forecast period, the flat-bottom bags market is anticipated to expand at a CAGR of 4.7%.
The flat-bottom bags market is expected to reach US$ 2.3 billion by the end of 2033.
During the forecast period, paper is likely to be the fastest-growing material type segment in the flat-bottom bags market.
Mondi Group, International Paper, Novolex, Smurfitkappa, Pouch Makers, Layfield Flexible Packaging, Tekpak Solutions, DXC Packaging, PBFY Flexible Packaging, Pack Plus, Knack Packaging, Fine Packaging are the top players supplementing the sales of flat bottom bags.
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Flat Bottom Bags Market
