Craft Bags Market to Grow with a CAGR of 4.5% Globally through 2028
Rising
environmental concerns and increasing consumer preference for eco-friendly
packaging are driving the Global Craft Bags Market in the forecast period
2024-2028.
According to TechSci
Research report, “Global Craft Bags Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Craft
Bags Market stood at USD 1559.52 Million in 2022 and is anticipated to grow
with a CAGR of 4.5% in the forecast period, 2024-2028. The global craft bags
market is undergoing a transformative shift driven by a combination of
environmental consciousness, changing consumer preferences, regulatory measures,
and innovation in packaging solutions. As concerns about the ecological impact
of plastic waste continue to escalate, there has been a significant rise in
demand for sustainable and eco-friendly alternatives. Craft bags, often made
from recycled or biodegradable materials, have emerged as a frontrunner in
addressing this demand. These bags offer a compelling solution for businesses
across various industries, aligning with both consumer expectations and
stringent regulatory guidelines.
Consumer preferences
play a pivotal role in shaping the global craft bags market. Modern consumers
are increasingly conscious of the environmental footprint of their purchases
and are actively seeking products with sustainable packaging. This shift in
consumer behavior has propelled the adoption of craft bags, which are perceived
as eco-friendly and align with the principles of reduce, reuse, and recycle.
Businesses, in turn, are recognizing the importance of aligning their practices
with consumer values to build brand loyalty and meet evolving market
expectations. This consumer-driven trend is influencing manufacturers to invest
in sustainable packaging solutions like craft bags, fostering a market that
prioritizes environmental responsibility.
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"Global Craft Bags Market”
Regulatory
measures globally are also contributing to the growth of the craft bags market.
Governments and regulatory bodies are implementing stringent restrictions on
single-use plastics, driving businesses to seek alternative packaging
solutions. Craft bags, being inherently eco-friendly, fulfill these regulatory
requirements and offer a sustainable option for businesses looking to comply
with changing laws. The regulatory push towards sustainability is a key driver
for the adoption of craft bags, as companies strive to ensure their products
adhere to environmental standards while meeting consumer demand for
eco-conscious packaging.
The surge in
e-commerce activities is further propelling the demand for craft bags. With the
rapid growth of online shopping, there is a heightened need for packaging that
is not only visually appealing but also durable enough to protect products
during transit. Craft bags, with their customizable designs and sturdy
composition, have become a popular choice for e-commerce packaging. This trend
is expected to persist as the e-commerce sector continues to expand globally,
reinforcing the position of craft bags as a preferred packaging solution in
this dynamic market.
Innovation in
craft bag design and materials is a driving force behind the market's
evolution. Manufacturers are investing in research and development to enhance
the functionality, durability, and aesthetic appeal of craft bags. From
water-resistant features to tear-resistant materials, the continuous innovation
in craft bags is addressing specific industry needs and expanding the range of
applications. This innovation is not only meeting the demand for sustainable packaging
but also offering businesses a chance to differentiate themselves through
unique and functional designs.
In conclusion,
the global craft bags market is experiencing a paradigm shift as
sustainability, consumer preferences, regulatory measures, and innovation
converge to shape the industry landscape. Craft bags have emerged as a
versatile and eco-friendly packaging solution, finding increased acceptance
across diverse industries. As businesses navigate the challenges and
opportunities in this evolving market, the demand for craft bags is expected to
grow, contributing to a more sustainable and environmentally conscious approach
to packaging on a global scale.
The Global Craft
Bags Market is segmented into product type, application, regional distribution,
and company.
Based on product
type the market is segmented into Block Bottom, Paper Carry, Confectionery,
Others.
Based on application
the market is segmented into Food & Beverage Industry, Homecare &
Personal Care, Healthcare, Others.
Based on region
the market is segmented into five regions, North America, Europe, Asia Pacific,
Middle East & Africa, and South America.
Major companies
operating in Global Craft Bags Market are:
- International
papers
- Stanpac
- Kent
Paper
- Biopac
- Genpak
- Bemis
Company Incorporated
- Berry
Plastics Corporation
- Novolex
- Linpac
Packaging Limited
- APL
Packaging
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“Expansion of
ecommerce channel is a significant trend that is expected to have an impact on
growth over the forecasted period. Rising environmental concerns and increasing
consumer preference for eco-friendly packaging will positively impact the
Global Craft Bags Market. Due to the wide range of products available to meet
specific needs of, as well as the growing popularity of the online sales
channel, the market is growing at impressive rate through projected period,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Craft Bags Market – Global Industry Size,
Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Block
Bottom, Paper Carry, Confectionery, Others), By Application (Food &
Beverage Industry, Homecare & Personal Care, Healthcare, Others), By
Region, By Competition, 2018-2028”, has evaluated the future growth
potential of Global Craft Bags Market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in
Global Craft Bags Market.
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