The Heavy Duty Bag And Sack Market worth is USD 12.7 billion in 2023. The 2022 valuation, in contrast, was USD 12.3 billion. The market is expected to progress at a CAGR of 3.6% over the forecast period from 2023 to 2033. The market is predicted to reach USD 18.1 billion by the end of 2033.
Consumption Analysis in the Heavy Duty Bag and Sack Market
| Attributes | Details |
|---|---|
| Heavy Duty Bag and Sack Market Value for 2023 | USD 12.7 billion |
| Projected Market Value for 2033 | USD 18.1 billion |
| Value-based CAGR from 2023 to 2033 | 3.6% |
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The heavy duty bag and sack market was valued at USD 10.7 billion in 2018. The market is projected to increase at a CAGR of 3.4% from 2018 to 2022.
The use of heavy duty bags and sacks in industries such as agriculture and construction continued to increase in the historical period. However, the pandemic acted as a major contrition on the market. Warehouses and manufacturing units shut down, leading to less use of heavy duty bags and sacks.
There were disruptions in the supply chain, and thus, the use of heavy duty bags and sacks in transportation was cut down. However, the market started recovery with the opening of various businesses in the key industries related to the market. By 2022, the market reached USD 12.3 billion.
| Attributes | Details |
|---|---|
| Heavy Duty Bag and Sack Market Value for 2018 | USD 10.7 billion |
| Historical Period CAGR (2018 to 2022) | 3.4% |
| Historical Market Valuation in 2022 | USD 12.3 billion |
Long-term Analysis of Heavy Duty Bag and Sack Market from 2023 to 2033
The heavy duty bag and sack market valuation is USD 12.7 billion in 2023. The market is projected to have a consistent CAGR of 3.6% over the forecast period from 2023 to 2033.
The increase in demand for heavy duty bags and sacks is tied to the expansion of various industries where the products are used. Expansion of industries like agriculture, food & beverage, and construction is conducive to the growth of the heavy duty bag and sack market. The use of the product on-board ships has also provided a different avenue of revenue for the market.
However, the market is subject to stringent regulations. As consumers and regulatory bodies become conscious of ecological footprints, the material used for heavy duty bags and sacks is under increasing scrutiny. Plastic is one of the major raw materials for the product, but it is regulated heavily. By 2033, the market size is expected to reach USD 18.1 billion.
| Top Material | Plastic |
|---|---|
| Market Share in 2023 | 53.4% |
Heavy duty bags and sacks made of plastic are highly preferred by consumers. In 2023, plastic is expected to lead the material segment, with 53.4% of the market share.
Sustainability trends have led players in the heavy duty bag and sack market to adopt recyclable material. Paper bags are also witnessing a rise in demand. However, the security provided by plastic is found to be hard to replicate. Manufacturers are further innovating with experiments in polymers to increase the resistance features of plastic bags. Thus, plastic’s popularity as a material remains steady.
| Top Product Type | Open Mouth |
|---|---|
| Market Share in 2023 | 23.1% |
Bags with an open mouth are common and thus are leading the product type segment. In 2023, the open mouth segment holds 23.1% of the market share by product type.
Open mouth bags are easy to handle but can still fit large quantities of material. Especially in the food and agriculture sectors, the use of open mouth bags is widespread. As such, there is consistent demand for open mouth bags.
The Asia Pacific is an immensely lucrative region for the market. The low price of heavy duty bags and sacks, as compared to competitors, is driving the market forward in the Asia Pacific.
Some of the notable countries in the region where the market is expected to flourish are India, China, and Thailand. The rate of progress in the Asia Pacific region is set to eclipse the rate of progress in other regions.
| Countries | CAGR (2023 to 2023) |
|---|---|
| China | 5.6% |
| India | 6.2% |
| South Korea | 3.9% |
| Thailand | 5.1% |
| Japan | 2.8% |
India is set to be one of the most promising markets for heavy duty bags and sacks. For the forecast period from 2023 to 2033, the CAGR for the Indian market is expected to be 6.2%.
India is seeing rising production of plastic. Since plastic is one of the main materials from which heavy duty bags and sacks are produced, the market is expected to thrive in the country. In addition, the increasing export of bags from the country is aiding the market.
The heavy duty bag and sack market is flourishing in China and is set to continue doing so over the forecast period. The CAGR of the market in China is pegged to be 5.6% through 2033.
The high population of China drives the demand for higher quantities of grain and food production. The expansion of the food industry and the need to transport and store grain are expected to play a big part in the market’s growth in the country.
Thailand is another Asian country with the potential for market growth. The Thai market is expected to grow at a promising CAGR of 5.1% over the forecast period.
The agriculture industry is undergoing significant development in Thailand. Innovations in farming techniques are helping the agricultural sector to boom. The growth of the agricultural sector is, in turn, helping the heavy duty bag and sack industry in Thailand.
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Manufacturers in the heavy duty bag and sack market are coming up with innovations to make products that are more resistant to external sources. Experimentation with different types of polymers is done with the intent of coming up with tougher materials for the bags and sacks.
The focus on sustainability and environmental regulations is driving players toward eco-friendly materials. Established players with eco-friendly brands are seeking collaborations to develop sustainable products.
Recent Developments in the Heavy Duty Bag and Sack Market
Increased protection from external factors and customization are two trends in the heavy duty bag and sack market.
The size of the heavy duty bag and sack market is estimated to be USD 12.7 billion in 2023.
Paper, plastic, and jute are some of the materials used for heavy duty bags and sacks.
Mondi Group, Berry Global, Inc., LC Packaging International BV, and Muscat Polymers Pvt. Ltd. are some of the leading companies in the market.
The heavy duty bag and sack market is expected to progress at a notable CAGR of 6.2% from 2023 to 2033.
| Market Value (2023) | USD 20983.4 million |
|---|---|
| Market Expected Value (2033) | USD 34179.75 million |
| Market Projected CAGR (2023 to 2033) | 5.0% |
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Heavy Duty Bag and Sack Market
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