The global multiwall bags market size is projected to grow from USD 12.1 billion in 2020 to USD 14.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 3.5%. The global multiwall bags industry has witnessed high growth primarily because of the increasing demand for packaged food products worldwide. Demand for innovative and sustainable packaging solutions is another key factor contributing to the rising growth of the multiwall bags market over the next few years.
In terms of both value and volume, plastic bags segment to lead the multiwall bags market by 2025. Plastic bags segment to dominate the multiwall bags market during the forecast period.VIP labels can be easily adapted to liner-free labels.
Plastics are widely used packaging materials and are often used in flexible packaging.Plastic-based multiwall bags are also known as FIBC (Flexible Intermediate Bulk Container) bags, jumbo bags, and bulk bags.
These bags are used for industrial, commercial, as well as consumer purposes. Plastic-based multiwall bags are widely used in industrial applications such as packaging of cement, food commodities, aggregates, chemicals, among others.
In terms of both volumes, 2-ply curable is projected to be the fastest-growing segment in the multiwall bags market from 2020 to 2025. 2-ply layer is projected to have significant growth opportunities by 2025. Multiple layers of plies are used to manufacture multiwall bags to make it durable and sturdy for packaging purposes. Multiwall bags with two layers of papers and/or plastics and sometimes with aluminum foils form a 2-ply bag. These are the most used multiwall bags in the market.
The food & grain segment is projected to be the fastest-growing end-use industry in the multiwall bags market from 2020 to 2025. Multiwall bags or sacks are widely used for the packaging of a variety of industrial, commercial, and consumer products.These bags are suitable for food items, agrochemicals, pharmaceutical & medical products, cement, construction chemicals and materials, and FMCG, among others.
The multiwall bags market has been studied on the basis of applications – food & grains, agriculture, building & construction, chemicals, retail, pharmaceutical, and others that include consumer goods, electrical & electronics, apparel, tobacco, and oil & lubricants. Food & grains led the market in 2019, and it is expected to grow the fastest during the forecast period.
In terms of both value and volume, the Asia Pacific multiwall bags market is projected to grow at the highest CAGR during the forecast period. In terms of value and volume, the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2025 due to the strong demand from countries such as China, India, and Japan. Factors, including an increase in the demand for consumer durables, awareness of buyers regarding packed food owing to current pandemic situation, rise in demand for ready-to-eat meals, and the easy application of multiwall bags, are expected to drive the market for multiwall bags in the Asia Pacific.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the multiwall bags market. •By Company Type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 25% •By Designation: C-level: 40%, D-level: 35%, and Others: 25% •By Region: North America: 20%, Europe: 30%, Asia Pacific: 35%, and Rest of the World: 15%
The global multiwall bags market comprises major manufacturers, such as Mondi Group (Austria), Berry Global Inc. (US), Sonoco Products Company (US), Hood Packaging Corporation (US), El Dorado Packaging, Inc. (US), Lincon Polymers Pvt. Ltd. (India), ProAmpac Holdings Inc. (US), Global-Pak, Inc. (US), LC Packaging (Netherlands), NNZ Group (Netherlands), Manyan Inc (Canada), United Bags, Inc. (US), Langston Companies, Inc. (US), Material Motion, Inc. (US), Commercial Packaging (US), MIDCO Global (US), Trombini (Brazil), San Miguel Yamamura Woven Products sdn bdh (Philippines), Oji Fibre Solutions (NZ) Ltd. (New Zealand), Nebig Verpakkingen BV (Netherlands), Sanghavi Global (India), Premier Polymer (India), Napco National (Saudi Arabia), Corman Bag (US), and Bag Supply Company, Inc. (US).
Research Coverage The market study covers the multiwall bags market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on product type, layer, application, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the multiwall bags market.
Key Benefits of Buying the Report The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall multiwall bags market and its segments and sub-segments.This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
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