Expected to reach US$ 41 Billion by 2032, the tote and ingredient bags packaging market is expected to embark on a strong growth trajectory. During the forecast period ranging from 2022-2032, the market is expected to register a value CAGR worth 4.1%. By 2022-end, demand for tote and ingredient bags packaging is expected to total US$ 27.1 Billion.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2022 | US$ 27.1 Billion |
| Projected Market Value in 2032 | US$ 41 Billion |
| Growth Rate (2022 to 2032) | 4.1% CAGR |
The global tote and ingredient bag packaging market continues to evolve with increased demand for customized products and ease of transport. The retail sector growth in the developed market has been modest, around 5%, and is higher than 8% in the developing market; thus, the Tote bag packaging market is projected to expand significantly.
According to FMI research, the food industry will continue to expand steadily in emerging markets such as Argentina, Brazil, China, and India. These factors are expected to accelerate the expansion of the ingredient bag market. Furthermore, Tote bag properties such as foldability, customizability, and recyclability increase their popularity, which is backed up by a boost in the standard of living.
Tertiary packaging is used for long-distance transfer or bulk storage. Tote bags are examples of secondary packaging. Tote bags are open bags with parallel implements protruding from both sides for carrying convenience. They can be crafted out of jute, fabric, or leather. Ingredient bags are used for raw ingredient transportation. Tote bags are popular in the market due to their cost efficiency and reusability.
Despite the favorable conditions for the growth of the Tote bag packaging market, our research shows that organizations must overcome a variety of obstacles. Certain factors, such as concern for the environment, are impeding growth. Toxic waste is created by the plants, which has an impact on the surrounding areas, raising concerns among local residents. Environmental laws are likely to stymie the otherwise robust market's growth.
The Global Tote Bag Packaging Market is divided into five regions: North America, Latin America, Europe, the Middle East and Africa (MEA), and the Asia Pacific. The tote bag packaging market is predicted to expand at a remarkable CAGR. North America dominates the global tote bag packaging market, but Europe and North America will experience a steady increase due to their mature markets.
The retail industry in China and India has been steadily growing, owing to an expansion in the number of retail outlets and malls, and this is presumed to fuel the growth of the Asia-Pacific tote bag packaging market.
Emerging economies such as Argentina, Brazil, China, and India are expected to propel the expansion of the Latin American and Asia Pacific tote bag packaging industries, respectively, and to arise as lucrative markets.
FMI recently completed an in-depth in the global intelligent automation services market, evaluating key market players. Bustificio Enneci, Xiamen Novelbag Co. ltd., Nanchang cloud power E-commerce co., Flymax Exim, Pico Bags, Xiamen Daike bags co. ltd. and MCM-group are some of the prominent stakeholders in the tote bag packaging market.
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The importance of packaging of products lies in the protection of the products from UV rays, dirt and other contaminants during transportation. Packaging is of two types – primary and secondary. Primary packaging comprises of the layer of packaging immediately in contact with the product. Secondary packaging is a second layer of packaging that is used during transportation over short distances. Secondary package may also contain a set of primary packaged products.
Tertiary packaging is used for transport over long distances or storage of bulk. Tote bags represent secondary packaging. Tote bags are unfastened bags with parallel handles protruding from both sides to provide convenience in carrying. They may be made of jute, fabric and leather. Ingredient bags serve as primary packaging for the transport of raw ingredients. The preference for Tote bags in the market is high due to their cost effectiveness and reusability.
The global packaging market has increased in the past couple of decades resulting in an increased demand for custom products and ease of transport. The retail sector growth in the developed market has been moderate, around 5%, and is higher than 8% in the developing market, therefore, it is anticipated that this will allow the Tote bag packaging market to grow substantially.
The food industry is also anticipated to experience a steady growth in emerging markets like Argentina, Brazil, China and India. These conditions are anticipated to fuel the growth of the ingredient bag market. Additionally, properties like foldability, customizability and recyclability of Tote bags increase their preference backed up by an improvement in the standard of living. All these conditions catalyze the growth of the Tote bag packaging market.
Despite the favorable conditions for the growth of the Tote bag packaging market, there are certain factors that hinder the growth like the environmental concerns. Toxic waste is generated from the plants and affect the nearby areas raising concerns among local residents. Stringent environmental policies are likely to impede the growth of the otherwise robust market.
Principal Consultant
Geographically, the Global tote bag packaging market is segmented into North America, Latin America, Europe, Middle East and Africa (MEA) and Asia Pacific. The tote bag packaging market is anticipated to witness an impressive CAGR in the 2016-2024 timeframe. Being a mature market, North America leads the tote bag packaging market share in the global tote bags packaging market, however, Europe and North America will experience moderate growth owing to their mature markets.
The retail sector in China and India has shown a steady growth, owing to the increase in the number of retail outlets and malls, and is set to fuel the growth of the tote bag packaging market in the Asia-Pacific region. Emerging economies such as Argentina, Brazil, China and India will drive the growth of tote bag packaging market in Latin America and Asia Pacific respectively, and are anticipated to emerge as lucrative markets by the end of the 2016-2024 timeframe.
Some of the key players in the tote bag packaging market are – Bustificio Enneci, Xiamen Novelbag Co. ltd., Nanchang cloud power E-commerce co., Flymax Exim, Pico Bags, Xiamen Daike bags co. ltd. and MCM-group.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology, and applications.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global tote bag packaging market can be segmented as follows:-
On the basis of material:-
On the basis of application:
On the basis of design:
On the basis of region:
The ingredient bag packaging market can be segmented as follows:
On the basis ingredient type:
On the basis of size:
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Tote And Ingredient Bags Packaging Market
