According to a recent report by Reports and Data, the global market for shopping bags was valued at USD 10.49 Billion in 2021, and is expected to grow at a revenue CAGR of 2.9% during the forecast period. The main driving factor for this growth is the rising demand for eco-friendly and reusable shopping bags. These bags offer a safer, more secure, and environmentally friendly alternative, as they are made from recycled materials such as newspaper bags, jute twine, and flour-based glue, and are completely biodegradable. Additionally, compared to regular bags, they have a higher carrying capacity - for example, bags made from two layers of used newspaper and a short piece of rope can hold up to 2.5 kg due to their innovative design. Reusable eco-friendly bags are also made from recycled materials like paper, cotton, canvas, and jute, and are composed of sturdy materials that can withstand heavy weight without tearing.
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Top Profiled Companies in the Global Shopping Bags Market Report:
Earthwise Bags Company Inc., Mato Hash, Planet E, Creative Green Life., BeeGreen, Simply+Green Solutions, Yookeehome, ASF TASHI LLC., and Ecosac Co.
Some Key Highlights From the Report
- The jute bag segment accounted for a significant revenue share in 2021 owing to jute and hemp materials that provide bags greater strength and weight carrying capabilities. Moreover, luxury shopping brands frequently utilize jute and hemp fabrics to create high-quality handbags.
- The online retail stores segment expected to register a moderate growth rate over the forecast period. This is owing to rapid growth of smartphone users around the world, as online retail is a one-click platform for consumers.
- The reusable bags segment is expected to register a significant growth rate over the forecast period. Reusable shopping bags can be used repeatedly as it serves as a substitute for single-use plastic or paper bags. It is commonly a tote bag constructed of woven synthetic fibers, thick plastic, or natural fibers such as polypropylene. Consumers are more likely to purchase these shopping bags owing to their reusability and widespread availability of bags in a variety of colors and sizes.
- The Asia Pacific market is expected to be the fastest growing market over the forecast period due to increase in demand for High Density Poly Ethylene (HDPE) and biodegradable shopping bags in countries such as China and India. Rising demand for biodegradable bags has increased in India owing to increasing attention to single-use plastic bags and its growing environmental sustainability concerns. Moreover, growing retail buying tendencies in countries, such as China and India, are expected to drive market revenue growth.
- The Europe market is expected to register largest revenue share during the forecast period. A paper bag made of natural kraft paper has a lot of advantages when strength is required. Natural kraft paper offers a high level of mechanical strength owing to its long, sturdy virgin fibers. Europe is a global industry leader in paper recycling with a 71.5% paper recycling rate, as it recycles 59 million tonnes of paper annually, or 2 tonnes of paper every second.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Material type Outlook (Revenue, USD Billion; 2019-2030)
- Paper Bags
- Cotton Bags
- Canvas Bags
- Jute Bags
- Others
Distribution channel Outlook (Revenue, USD Billion; 2019-2030)
- Offline Retail Stores
- Online Retail
Type Outlook (Revenue, USD Billion; 2019-2030)
- Reusable Bags
- Non-Reusable Bags
Key Takeaways of the Global Shopping Bags Market Report:
- A comprehensive overview of the global Shopping Bags industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Shopping Bags market.
- Elaborate study of the leading regional markets in the global Shopping Bags market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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