“The global jute bags is estimated at US$ 1.2 Bn in 2022 and is projected to reach US$ 1.9 Bn by 2032, at a CAGR of 4.9% from 2022 to 2032”
Jute bags are predicted to gain in popularity due to their biodegradability, durability, low cost, and sustainability (FMI). Sales of jute bags are predicted to increase steadily over the forecast period (2022-2032). From 2022 to 2032, the market for jute bags is predicted to develop at a CAGR of 4.9 percent, with a market value of US$ 1.2 billion in 2022 and US$ 1.9 billion by 2032.
Jute bags are becoming more popular for a variety of uses, from carrying light jewellery and gifts to hauling heavy agricultural produce like wheat, paddy, and other grains.
These UV-protected jute bags are inherently anti-static and excellent for use with food. Tourists are also becoming more interested in jute bags with stylish designs and embellishments.
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To supplement jute bag sales, the food retail industry is expanding.
- The global market is being driven by the increased demand for jute bags in the retail industry. Increased food production will raise the demand for jute sacks and bags to store and transport a wide range of food items.
- Sugar, rice, wheat, vegetables, tea, and coffee beans are among the foods that are increasingly packaged in jute. In recent years, the global retail industry has been gradually rising, and this trend is projected to continue in the next years.
- In terms of value addition, the food retail industry is one of the most important sectors in many countries. Furthermore, food and household consumption expenditures are on the rise, which is likely to help the retail industry thrive. This is projected to have a positive effect on global jute demand.
“Growing demand for cost-effective, durable, ecologically friendly, and sustainable packaging products will boost the jute bag sales across a wide range of industries. Furthermore, personalization and printability features on jute bags will create lucrative opportunities for the jute bags manufacturers” says FMI analyst.
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Expansion of Food Retail Sector to Supplement the Sales of Jute Bags
The global jute bags market is majorly driven by rising demand from the retail industry. Increasing production output from the food sector will create a substantial demand for jute sacks and bags to store and carry a wide range of food items.
Jute has become more predominant to package several food items such as sugar, paddy, wheat, vegetables, tea and coffee bean. The global retail market has observed healthy growth over the last few years, and is estimated to continue in the forecast years.
In terms of value addition, the food retail industry is one of the most prominent sectors in numerous economies. Also, expenditure on food and household consumption are increasing which is predicted to enhance the economic growth of the retail industry. This is anticipated to create a positive effect on the demand for jute across the globe.
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