North America, led by the U.S. will witness significant growth for plastic bags & sacks market due to advancement in manufacturing technologies which has enabled vendors to offer variety of options in biodegradable packing. However, few states in the region have passed the legislation, banning the polythene bag usage at large retail stores, which may hamper the industry growth.
Asia Pacific, dominated by India and China for plastic bags & sacks market is likely to witness up surging demand due to growing middle-class income and urbanization. In addition, remarkable growth of retail sector coupled with rising government investment in various industries in the region has triggered the product demand.
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Plastic bags & sacks provides resistant to infestation, corrosion, moisture and decay that makes it suitable for packaging of chemicals and fertilizers. It is made from both biodegradable & non-biodegradable materials. Biodegradable material includes starch blend resins, polylactic acid, and poly hydroxy alkanoates. Non-biodegradable material is divided into low density polyethylene, polystyrene, high density polyethylene, linear low-density polyethylene and polypropylene. The non-biodegradable plastic bags & sacks market segment is expected to be the fastest growing industry owing to favorable government norms towards these products as they are ecofriendly and reusable. Additionally, it takes less energy to recycle as compared to glass & metal containers.
Plastic bags & sacks are also used in manufacturing of different end-use products t-shirt, trash bags and rubble & woven pouches. The product is used in retail & consumer, institutional and other industrial applications. Retail & consumer segment is divided into grocery products, food & beverage and clothing & apparel. Institutional segment has two divisions including, hospitals & healthcare facility and hospitality. Hospitals & healthcare facility segment is projected to foresee high growth due to rising pharmaceuticals industry as these products are widely used in packing of medicines, thus driving plastic bags & sacks market demand.
Plastic bags & sacks are increasingly being used in day to day activities and various industries such as horticulture, and construction. Increasing demand for food & beverages, grocery and consumer goods will support the industry growth. The need for reducing overall weight of bulk packaging while transporting materials in construction, chemical and fertilizer industry is a key factor driving plastic bags & sacks market. The heavy weight of goods and material on the vehicle increases the load on the roads, thereby damaging them. Plastics knitted pouches are lightweight, have high tensile strength, and improved mechanical properties.
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Growth in dairy industry will provide positive outlook for plastic bags & sacks market as it is easy to carry & store liquid & perishable products using polythene. Besides, growing product popularity in humid regions as it provides protection in rains will propel plastic bags & sacks market size. They are also less prone to tearing and can be used for a variety of purposes for storing miscellaneous items. Furthermore, changing consumer lifestyle, rapid industrialization, and declining oil & gas prices in emerging economies are the factors fueling the product demand.
Companies are adopting various strategies to enhance their presence in global plastic bags & sacks market which include increase focus on research and development activities, new product launch, mergers and acquisitions. In July 2016, Mondi Group acquired Ural, a Russian company that manufactures consumer flexible packaging products for homecare, hygiene, food and other applications. The acquisition will help Mondi to strengthen its presence in Russia and improve their consumer packaging business. Mondi is a packaging and paper group with full integration across paper and packaging value chain.
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