Global Paper Bags Market Research Report Forecast 2027
Global Paper Bags Market is anticipated to grow with a healthy growth rate of more than 4.1 % over the forecast period 2020-2027. Paper Bags are light weight , non- toxic , biodegradable and recyclable. These bags are widely used in different industries like foods and beverages, retail market, chemicals etc. Also, they do not cause any harm to the environment. They are available in different sizes and designs. Further, growing modernization, increasing individual income, and rapid changing lifestyles are augmenting the growth in the global paper bags market. Paper bags have become the part of our lives.
Increasing consumerism and retail market has led to the boom in paper bag market during the forecast period. Due to the government policies regarding the ban on plastic bags due to environmental concerns, the market of paper bags is likely to surge. Also these bags are very cheap in price so anyone can afford them. For Instance: After the introduction of the legislation of ban on plastic bags in 2019, plastic bag distribution in grocery stores fell on average by 70 percent, which avoided the use of 40 billion plastic bags.
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Within seven years, the number of bags used by shopping malls and supermarkets reduced by two-thirds. As a result paper bags will be used as an alternative . This will lead to the growth in market of paper bags. However, the recent COVID-19 outbreak has hugely affected key end users of paper bags such as retail, food, beverages, and others impeding the growth of the market over the forecast period of 2020-2027. Rising environmental concerns and industrialization will lead to the growth in paper bags market.
The regional analysis of global Paper Bags market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the abundance availability of raw materials and easily available labors. Whereas, North America is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising environmental concerns and consumerism would create lucrative growth prospects for the Paper Bags market across Asia-Pacific region.
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