Overview and Scope
Multiwall bags are bags that have multiple layers and are an affordable, adaptable, and flexible packaging option composed of sustainable and renewable materials and extremely robust and lasting. The multiwall bags are used for shipment and storage of bulk and powder goods such as cement, chemicals, fertilizers, and so on.
Sizing and Forecast
The multiwall bags market size has grown steadily in recent years. It will grow from <b>$13.65 billion in 2023 to $14.29 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. </b> The growth in the historic period can be attributed to agriculture sector, food packaging, construction and building materials, pharmaceutical packaging, e-commerce packaging.
The multiwall bags market size is expected to see strong growth in the next few years. It will grow to <b>$17.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. </b> The growth in the forecast period can be attributed to food safety regulations, retail packaging, health and hygiene, custom printing, industrial applications. Major trends in the forecast period include biodegradable materials, innovative designs, sustainability certifications, automated filling, advancements in technology.
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Segmentation & Regional Insights
The multiwall bags market covered in this report is segmented –
1) By Product Type: Paper Based, Plastic Bags
2) By Layer: 2-Ply, 3-Ply, Others Layers
3) By Application: Food And Grains, Agriculture, Building And Construction, Chemical, Retail, Pharmaceuticals, Others Applications
<b>Asia-Pacific</b> was the largest region in the multiwall bags market in 2023. The regions covered in the multiwall bags market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in use of sustainable packaging solutions is expected to propel the growth of the multiwall bags market growing forward. Sustainable packaging solutions have the least environmental impact since they’re manufactured with recyclable materials and are also eco-friendly. Multiwall bags are easily recyclable and created from renewable materials, so referred to as sustainable packaging solutions. For instance, according to a survey of more than 15,000 end consumers across North America, Europe, and South America by Trivium Packaging, a Netherlands-based sustainable packing company, in 2021, 83% of consumers showed a willingness to pay more for sustainable packaging as compared to 70% in the previous year. Therefore, increasing the use of sustainable packaging is driving the growth of the multiwall bags market.
Key Industry Players
Major companies operating in the multiwall bags market include <b> Mondi Group, Berry Global Inc., Sonoco Products Company, Hood Packaging Corporation, Manyan Inc, Lincon Polymers Pvt. Ltd., ProAmpac Holdings Inc., Global-Pak Inc., LC Packaging International BV, NNZ Group, Premier Polymer Inc., United Bags Inc., Langston Companies Inc., Trombini Embalagens S.A., Nebig Verpakkingen B.V., El Dorado Packaging Inc., Material Motion Inc., MIDCO Global, San Miguel Yamamura Woven Products Sdn Bhd, Oji Fibre Solutions Limited, Sanghavi Global, Napco National, Corman Bag Co. Inc., Bag Supply Company Inc., Southern Packaging LP, Novey Bag Co., Stephen Gould Corp., Mil-Spec Packaging of GA Inc. </b>
The multiwall bags market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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