Retail Bags Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

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The Retail Bags Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Retail Bags Global Market Report 2024, The retail bags market size has grown strongly in recent years. It will grow from $16.84billion in 2023 to $17.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to rise in urbanization, increase in tourism, increase in home delivery services, rise in e commerce, rise in online shopping.

The retail bags market size is expected to see strong growth in the next few years. It will grow to $23.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to the growing retail industry, a growing number of shopping malls, growing awareness of waste generation, a growing number of supermarkets, and increasing consumer spending. Major trends in the forecast period include technological advancements, biodegradable bags, eco-friendly materials, smart packaging solutions, and subscription models.

The rise in e-commerce is expected to propel the growth of the retail bags market going forward. E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the Internet. The rise in e-commerce is due to advances in mobile technology, digital marketing, logistics, and supply chain management. Retail bags facilitate the logistics and delivery process in e-commerce by providing packaging for products purchased online, enhancing customer convenience. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, in the first quarter of 2024, U.S. retail e-commerce sales totaled approximately $289.2 billion, marking a 2.1% increase (±0.7%) from the fourth quarter of 2023. Therefore, the rise in e-commerce is driving the growth of the retail bags market.

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The retail bags market covered in this report is segmented –

1) By Material Type: Plastic, Paper, Other Material Types
2) By Pattern: Textured, Printed, Solid, Other Patterns
3) By End User: Grocery Stores, Food Service, Other End Users

Major companies operating in the retail bag market are focused on developing innovative products, such as Locally-made retail paper bags, to promote environmental stewardship and enhance product durability. Locally-made retail paper bags are paper bags produced within a specific geographic area or community. Locally-made retail paper bags can be a great choice for businesses looking to align with sustainability goals and support their local economy. For instance, in February 2024, Visy Industries, an Australia-based packaging and recycling company, launched locally-made retail paper bags. These heavy-weight bags are crafted from thicker paper, ensuring enhanced durability and strength, which makes them suitable for carrying heavier items without tearing. These innovative bags are fully recyclable through Australian curbside recycling bins, providing consumers with a convenient and eco-friendly disposal option.

The retail bags market report table of contents includes:

1. Executive Summary
2. Retail Bags Market Characteristics
3. Retail Bags Market Trends And Strategies
4. Retail Bags Market – Macro Economic Scenario
5. Global Retail Bags Market Size and Growth
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32. Global Retail Bags Market Competitive Benchmarking
33. Global Retail Bags Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Retail Bags Market
35. Retail Bags Market Future Outlook and Potential Analysis
36. Appendix