Foodservice Paper Bags Market by Material Type, Bag Type, End User & region – Forecast 2022 – 2032

The global foodservice paper bags market is set to reach a valuation of US$ 958.4 Mn in 2022, and further expand at a CAGR of 5.1% from 2022 to 2032. The market is likely to reach US$ 1,575.9 Mn by the end of 2032. Sales of foodservice paper bags are projected to augment with the top 3 countries anticipated to hold approximately 25-30% of the market share by the end of 2022.

In the foodservice paper bags market, non-handle bags by bag type are projected to hold approximately 70% of the market share by the end of 2022. The reason behind the same is the high preference for normal paper bags by numerous foodservice outlets. The global foodservice paper bags market holds around 18% of the global paper bags market, which was worth US$ 5.0 Bn in 2021.

Along similar lines, the proliferation of online food delivery and the growing trend of on-the-way meals are positively influencing the adoption of paper bags in foodservice applications. As end-users seek packaging solutions that are strong and leakage-proof, manufacturers are emphasizing on innovation in product design.

“Market players are focusing on developing products with high tensile strength and better quality to gain an edge over their counterparts, plastic bags, which are stronger than paper bags,” remarks FMI analyst.

Get Sample of the Report : https://www.futuremarketinsights.com/reports/sample/rep-gb-12666

Who is Winning?

Key players in the market are focusing on producing sustainable products to comply with the existing norms on packaging methodologies. Along similar lines, traditional growth strategies such as acquisitions, mergers, and expansions will continue to shape the competitive landscape. On these lines:

In 2019, Amcor launched a new recyclable packaging format that is capable of reducing carbon impact by 64%.

In the same year, Westrock company completed acquisition of KapStone Paper and Packaging Corporation with an intention to expand its product portfolio.

FMI’s report includes profiles of some of the most prominent names in the market including

  • WestRock Company,
  • Huhtamaki Oyj,
  • Paperbags Limited,
  • Novolex Holdings LLC,
  • Ronpak Inc.,
  • The Mondi Group LLC,
  • Amcor Ltd.,
  • Vegware Ltd.,
  • Stora Enso Oyj.,
  • Smurfit Kappa Group,
  • International Paper Company,
  • Georgia Pacific LLC,
  • Welton Bibby And
  • Baron Limited,
  • Biopac (UK),
  • United Bags Inc. and Global-Pak.

Key Takeaways

  • Brown kraft-based paper bags are expected to account for more than 4/5th of market value, owing to their stiffness.
  • Non-handle bags will remain the most sought type, capturing nearly 2/3rd of market value, backed by their convenience and low cost.
  • On the basis of end-use, restaurants are poised to capture more than half of overall global value, ascribed to the rising trend of take-away.
  • Europe is projected to spearhead the regional landscape of the market, capturing more than 1/3rd of market value.
  • East Asia will prevail as the second most lucrative regions through the forecast period, holding a quarter of the market value.

Ask An Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-12666

COVID-19 Impact on Foodservice Paper Bags Market

The outbreak of COVID-19 is exhibiting a dual impact on the packaging industry and it clearly reflects in the demand for paper bags in the foodservice sector. As people across the world remain confined in their homes, packaged food has emerged as a solution for their food cravings.

With efficient online food delivery services in place, consumers are resorting to online orders. This will aid the demand for paper bags to sustain during the forecast period to an extent. However, the closure of restaurants and other food outlets coupled with limitations on the production front will pose a challenge to the steady growth of the market during the pandemic.

Foodservice Paper Bags Market Outlook by Category

By Material Type:

  • Brown Kraft
  • White Kraft

By Bag Type:

  • Handle Bags
  • Non-handle Bags

By End User:

  • Foodservice Outlets
  • Online Food Delivery
  • Institutional

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand-side Trends

1.3. Supply-side Trends

1.4. Technology Roadmap Analysis

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Background

3.1. Market Dynamics

3.1.1. Drivers

3.1.2. Restraints

3.1.3. Opportunity

3.1.4. Trends