The global plastic bag market size is estimated to rise from USD 24,673.5 million in 2023 to USD 34,424.5 million by 2033. Sales of plastic bags are anticipated to climb at a CAGR of 3.4% during the forecast period. In 2022, the global plastic bag market value totaled USD 23,745.9 million and is set to exhibit a y-o-y growth of 3.9% in 2023.
Top Segments and their Statistics
| Attributes | Key Insights |
|---|---|
| Plastic Bag Market Base Value (2022A) | USD 23,745.9 million |
| Estimated Plastic Bag Market Value (2023E) | USD 24,673.5 million |
| Projected Plastic Bag Market Size (2033F) | USD 34,424.5 million |
| Expected Plastic Bag Market CAGR (2023 to 2033) | 3.4% |
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Market to Expand Around 1.4X through 2033
The global market for plastic bags is forecast to expand around 1.4X through 2033, amid a 0.7% increase in estimated CAGR compared to the historical one. This is due to the robust growth of the retail sector, the high popularity of biodegradable plastic bags, and the increasing usage of plastic bags in households.
Other Factors Expected to Drive Demand for Plastic Bags Include
Key Trends in the Plastic Bag Market Include-
North America and East Asia Remain Leading Markets
North America and East Asia are projected to remain the leading consumers of plastic bags globally. As per the latest analysis, East and North America are set to cumulatively hold around 39.4% share of the global plastic bag industry in 2033.
It is due to factors such as the exponential growth of end-use industries, including retail, pharmaceutical, and food & beverage. The growing demand for eco-friendly plastic bags and the increasing usage of retail packaging bags are also projected to aid sales.
The United States is expected to dominate the global plastic bag market. On the other hand, countries such as India and China are set to emerge as highly lucrative markets for plastic bag manufacturers. This is owing to rapid population growth, urbanization, surging demand for packaged food, and rising disposable income.
Key Manufacturers Utilize Eco-friendly Materials to Cope with Regulations
Both manufacturers and consumers are becoming more aware of the environmental impact of plastic bags. This has prompted them to look for eco-friendly alternatives. To walk with this trend, key manufacturers are utilizing sustainable materials to develop eco-friendly and biodegradable plastic bags.
Several countries are also implementing initiatives and regulations to promote sustainability and reduce plastic waste. This is projected to create a high demand for biodegradable plastic bags.
The global plastic bag market is set to register a CAGR of 3.4% from 2023 to 2033. This will represent a significant acceleration from the 2.7% CAGR seen during the 2018 to 2022 period.
| Historical CAGR (2018 to 2022) | 2.7% |
|---|---|
| Forecast CAGR (2023 to 2033) | 3.4% |
Over the years, plastic bags have evolved tremendously and have widespread use in everyday life. They are convenient, cost-effective, and one of the most reliable options for packaging across several end-use industries.
According to Plastic Oceans International, each year, it is estimated that around 500 billion plastic bags are used globally, and over one million bags are used every minute. This is providing a strong impetus for the growth of the global plastic bag market.
With less than 9% of plastic being recycled, plastic bags have a tremendous negative impact on the environment. Due to this, over the past two decades, manufacturers and end users have increasingly shifted to biodegradable plastics. Moreover, the packaging sector has seen continuous innovation in terms of plastic biodegradability.
New innovations are being developed to cope with the plastic problem. For instance, in April 2021, the University of California invented a way to make compostable plastics break down more easily using only heat and water through the incorporation of polyester-eating enzymes in the plastic.
Technological advancements in part, processing, and materials have also facilitated the creation of environmentally friendly and biodegradable bags. To this end, manufacturers of plastic bags are also taking initiatives to promote this trend.
There has been an upward trend in the consumption of fast food in recent years owing to several factors, such as changing lifestyles and transforming demographic structure. Several fast-food chains are consistently recording growth in revenue owing to this trend. This rising demand for fast food, especially in takeaway format, is expected to push the market for plastic bags forward.
The burgeoning e-commerce and online grocery delivery sector is another key factor driving demand for plastic bags. Several delivery platforms are sticking with recyclable plastic bags owing to the additional cost associated with reusable and paper bags. All these factors will boost the market in the forecast period.
Semi-annual Market Update
| Particular | Value CAGR |
|---|---|
| H1 | 3.2% (2022 to 2032) |
| H2 | 3.0% (2022 to 2032) |
| H1 | 3.7% (2023 to 2033) |
| H2 | 3.5% (2023 to 2033) |
Principal Consultant
Rising Convenience Packaging Demand to Boost Growth
The demand for convenience packaging, characterized by user-friendly design and easy accessibility, has surged in recent years. This is benefitting the business landscape across several industries, including plastic packaging since it is a key raw material for the manufacturing of lightweight and easy-to-use bags.
Increasing population and urbanization, rising disposable income, and improving standards of living in developing countries are factors contributing significantly to the growing demand for convenience packaging. This is consequently impacting plastic bag sales.
For instance, as per the Organization for Economic Co-operation and Development (OECD), real household income increased by 0.2% across the OECD countries in the third quarter of 2022.
Similarly, the world population is experiencing rapid growth and is expected to rise by over 20% in the next 30 years, as per data from the United Nations (UN). This growth is expected to drive consumption and consequently push the demand for plastic bags.
Outline of Key Trends in the Plastic Bag Market Shaping Growth
Several manufacturers are actively incorporating post-consumer resin (PCR) materials to produce different types of products. The integration of PCR into plastic bags, whether for applications involving food or non-food items, is slowly taking shape as several manufacturers are utilizing this material to achieve sustainability goals.
For instance,
The table below shows the anticipated growth rates of the top countries. India, China, and Japan are set to record lucrative CAGRs of 4.3%, 3.5%, and 3.9%, respectively, through 2033.
| Countries | Value CAGR |
|---|---|
| United States | 2.3% |
| Germany | 2.0% |
| United Kingdom | 2.4% |
| Japan | 3.9% |
| China | 3.5% |
| India | 4.3% |
India’s plastic bag market value is estimated to reach USD 2,853.5 million by 2033. Demand for plastic bags in the country is predicted to rise at a CAGR of 4.3% during the forecast period. This is attributable to the rising usage of plastic bags across India’s thriving retail sector.
According to the India Brand Equity Foundation (IBEF), India’s retail industry is projected to surge by 9% from 2019 to 2030. It will attain a valuation of USD 1,407 million in 2026 and over USD 1.8 trillion by 2030. This will create growth opportunities for plastic bag manufacturers as these bags are often utilized for packaging products in the retail sector.
India has the third-leading number of e-retail shoppers. The retail industry in India will be supported by increasing urbanization, rising income, and favorable demographics, thereby expanding sales of plastic bags in the country.
The United States plastic bag market size is predicted to reach USD 4,215.7 million by 2033. Over the projection period, sales of plastic bags in the United States are likely to soar at a 2.3% CAGR. This is due to the growing demand for convenience and the expansion of e-commerce.
Plastic bags are an affordable and convenient packaging solution used for applications such as food, waste disposal, and retail. This convenience is leading to a rising demand for plastic bags from businesses and consumers in the United States.
Another prominent factor expected to boost sales and improve the United States plastic bag market share is the innovations in materials. Continuous research in material science is leading to the development of novel biodegradable and compostable plastics. The rising adoption of these eco-friendly materials could affect the market landscape in the United States.
Japan’s plastic bag market revenue is projected to increase at a 3.9% CAGR, totaling USD 2,857.5 million by 2033. This can be attributed to the rising preference for sustainable plastic bags and increasing government initiatives to promote sustainability.
The government of Japan is launching several initiatives to promote sustainable packaging solutions, including compostable and biodegradable plastic bags. This is expected to boost the plastic bag industry in the country during the forecast period.
The increasing popularity of online grocery is another key factor impacting sales of plastic bags in Japan. People in the country are showing an inclination toward purchasing products through online grocery stores.
This will likely fuel the demand for grocery bags or plastic carry bags as they are widely used for packaging and shipping groceries.
China is anticipated to dominate the East Asia plastic bag market during the forecast period. It is expected to attain a valuation of USD 3,687.6 million in 2033. Over the assessment period, the demand for plastic bags in China is slated to surge at a 3.5% CAGR.
Several factors are expected to drive the demand for plastic bags in the country. These include rapid growth of the food & beverage industry, surging demand for packaged food items, and increasing import/export business.
In China, the food & beverage industry is the leading consumer of plastic bags. Rapid urbanization, changing eating habits, and economic growth are creating a high demand for packaged foods and beverages in China. This is anticipated to fuel sales of plastic bags.
The United Kingdom’s plastic bag industry is projected to thrive at a steady CAGR of 2.4% during the assessment period. Plastic bag sales in the country are predicted to total USD 902.7 million in 2033.
The growing usage of plastic bags in households, hotels, and restaurants is expected to boost the United Kingdom’s plastic bag market growth. Similarly, the rising popularity of biodegradable, compostable, and recyclable plastic bags is set to fuel sales in the country through 2033.
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Based on material, the polyethylene segment is anticipated to retain its dominance through 2033. It will likely exhibit a CAGR of 3.1% between 2023 and 2033. The retail segment is expected to hold a prominent value share by 2033. It is poised to exhibit a CAGR of 2.8% during the assessment period.
| Material | Value CAGR |
|---|---|
| Polyethylene (PE) | 3.1% |
| Polyethylene Terephthalate (PET) | 4.3% |
As per the latest plastic bag market analysis, polyethylene remains the most widely used material by manufacturers for producing plastic bags. This is due to its flexibility, water resistance, high strength, durability, and low cost.
Polyethylene (PE) is a versatile material that can be molded into multiple sizes and shapes. Polyethylene bags do not break or tear easily and can withstand the weight of groceries and other products. These bags are set to witness high demand due to their cost-effectiveness and lightweight nature.
The growing inclination of end users toward using polyethylene bags will further boost the target segment. As a result, the polyethylene segment is set to thrive at a 3.1% CAGR, reaching USD 21,137 million by 2033.
| End-use | Value CAGR |
|---|---|
| Retail | 2.8% |
| Household | 5.2% |
Plastic bags are popular in the retail sector, providing a cost-effective and convenient packaging solution. The ongoing expansion of the food service and e-commerce sectors is expected to push up the consumption of plastic bags, thereby fostering growth.
Plastic bags can also be customized with the retailer’s logo and promotional messages, which will help to increase brand visibility and enable companies to stand out among their competitors.
The retail segment is estimated to account for a share of 42.4% in 2033. It will likely expand at a 2.8% CAGR, totaling USD 14,598.1 million by 2033.
The household segment, on the other hand, is anticipated to witness a higher CAGR of 5.2% throughout the forecast period. This is attributable to the rising usage of plastic bags in households for different purposes.
Top manufacturers of plastic bags are focusing on developing innovations and advancements to stay relevant in the market. They are implementing strategies such as mergers, acquisitions, partnerships, collaborations, and price reductions to boost their revenue and strengthen their presence.
Recent Developments in the Plastic Bag Market
| Attribute | Details |
|---|---|
| Estimated Market Value (20233) | USD 24,673.5 million |
| Projected Market Size (2033) | USD 34,424.5 million |
| Anticipated Growth Rate (2023 to 2033) | 3.4% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | By Bag Type, By Material, By Distribution Channel, By End-use, By Region |
| Key Companies Profiled | Berry Global Group, Inc.; Bischof & Klein GmbH & Co. KG; Novolex Holdings, Inc.; International Plastic Inc.; AEP Industries Inc.; ProAmpac LLC; CeDo Ltd.; Amcor Plc; Sonoco Products Company; Mondi Plc; Reynolds Consumer Products Inc.; Transcontinental Inc.; RKW Group; 3M; Thantawan Industry Plc.; Flair Flexible Packaging Corporation; Inteplast Group; Dagöplast AS; Allstate Plastics LLC; Novplasta s.r.o. |
The global plastic bag market size is anticipated to reach USD 24,673.5 million in 2023.
The plastic bag market value is set to reach USD 34,424.5 million in 2033.
Global demand for plastic bags is projected to rise at a 3.4% CAGR through 2033.
The retail segment is expected to garner a significant value share by 2023.
The global plastic bag market value totaled USD 23,745.9 million in 2022.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Bag Type 9.1. Zipper Bags 9.2. T-shirt Bags 9.3. Gusseted Bags 9.4. Slider Bags 9.5. Garbage Bags 9.6. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 10.1. Polyethylene (PE) 10.2. Polypropylene (PP) 10.3. Polyethylene Terephthalate (PET) 10.4. Polylactic Acid (PLA) 10.5. Others (PVC, PS) 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 11.1. Direct Sales (Manufacturers) 11.2. Distributors 11.3. Bricks & Mortar Stores 11.4. E-retail 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use 12.1. Retail 12.2. Commercial 12.3. Institutional 12.4. Household 13. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 13.1. North America 13.2. Latin America 13.3. East Asia 13.4. South Asia & Pacific 13.5. Western Europe 13.6. Eastern Europe 13.7. Central Asia 13.8. Russia & Belarus 13.9. Balkan & Baltic Countries 13.10. Middle East and Africa 14. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. South Asia & Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Central Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 21. Russia & Belarus Market Analysis 2018 to 2022 and Forecast 2023 to 2033 22. Balkan & Baltic Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 23. Middle East & Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 24. Country-wise Market Analysis 2023 & 2033 25. Market Structure Analysis 26. Competition Analysis 26.1. Berry Global Group, Inc. 26.2. Bischof & Klein GmbH & Co. KG 26.3. Novolex Holdings, Inc. 26.4. International Plastic Inc. 26.5. AEP Industries Inc. 26.6. ProAmpac LLC 26.7. CeDo Ltd. 26.8. Amcor Plc 26.9. Sonoco Products Company 26.10. Mondi Plc 26.11. Reynolds Consumer Products Inc. 26.12. Transcontinental Inc. 26.13. RKW Group 26.14. 3M 26.15. Thantawan Industry Plc. 26.16. Flair Flexible Packaging Corporation 26.17. Inteplast Group 26.18. Dagöplast AS 26.19. Allstate Plastics LLC 26.20. Novplasta s.r.o. 27. Assumptions and Acronyms Used 28. Research Methodology
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Plastic Bag Market
