Global Paper Sacks Market: Overview
Paper based packaging is constantly advancing in terms of growth rate in the overall packaging industry and has constantly gained attention, owing to its versatile, tear-resistance and cost effective method to transport, preserve and protect a wide array of goods. As a raw material source, paper is a low cost readily available raw material which accounts for more than 50% of the revenue generation in the packaging industry and is used in the form primary packaging, often with the assistance of paper sacks.
This report offers comprehensive information and wide-ranging evaluation of the global paper sacks market. The research report is based on the trustworthy sources such as press release, whitepapers, news updates, and assumptions. The report offers comprehensive profiles on these market players and assesses their current standing in the paper sacks market. The report offers company history, annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and recent research and development (R&D) activities.
Global Paper Sacks Market: Drivers and Restraints
One of the major reason for the growth of global paper sacks market is the increasing awareness about environmental sustainability as paper sacks can be recycled and re-used. Adding to this, the stringent government regulation on plastic sacks usage is another factor that drives the growth of global paper sacks market. However, the restraining factor in the growth of global paper sacks market is the high price of paper sacks as compared to plastic sacks. Moreover, increasing investments by manufacturers of plastic sacks to innovate their product with prime focus on consumer convenience, is expected to hinder the growth of the global paper sacks market throughout the forecast period.
Additionally, infrastructural development and increasing urbanization in the developing economies is one of the growing factor for the global paper sacks market. Another significant factor that is driving the growth of the global paper sacks market is the dust-free and moisture protection features of the paper sacks. In addition to this, low damage rate of paper sacks which is not exceeding 2% is expected to positively impact the sales of paper sacks, driving its demand over the forecast period.
Global Paper Sacks Market – Regional Outlook:
Geographically, the global paper sacks market is segmented into North America, Latin America, Europe, APEJ (Asia Pacific excluding Japan), MEA (Middle East & Africa) and Japan. The global paper sacks market is expected to witness a stable CAGR over the forecast period. The demand for the paper sacks is expected to witness an above average growth in North America due to higher adoption of paper sacks in commercial and industrial use. Apart from this, rampant growth of retail and industrial sector in Asia-Pacific is expected to further boost the sales of paper sacks by the end of forecast period.
Global Paper Sacks Market: Competitive Landscape
Some of the key players operating in the global paper sacks market include Simpac Ltd, Papiersackfabrik Tenax GmbH & Co, S.G.Baker Ltd, H Polesy & Co Pty Ltd, and Edna Group.