Industrial Sacks Market - Global Outlook and Forecast 2019-2024
The global industrial sacks market is projected to produce unit volumes of around 142 billion sacks by 2024, growing at a CAGR of more than 3% during 2018-2024.
The rapid changes in the trade patterns, agricultural income in emerging economies, growing end-user demands, and variations in environmental regulations are encouraging the players to invest in innovations of products in the global market. The growing popularity of reusable produce bags and food packaging solutions are contributing to the growing revenues in the market.The global industrial sacks market is driven by the growing demand from emerging economies such as APAC, Latin America, and MEA. The implementation of regulated environmental laws restricting the usage of a specific type of sack for packaging and transporting is contributing to the transformation of the global market. The market research report provides in-depth market analysis and segmental analysis of the global industrial sacks market by industrial application, sack type, and geography.
The report considers the present scenario of the global industrial sacks market and its market dynamics for the period 2019−2024. It covers a detailed overview of various market growth enablers, restraints, and trends. The study includes both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Industrial Sacks Market – Dynamics
The strength, durability, and the dimensional ability to carry and protect the product is one of the primary factors attributing to the growth of the global industrial sacks market. The brands are leveraging packaging to launch or re-launch of any commercial product and gain large consumers in the market. The appearance of the product often influences the buyer immediately, owing to the very first impression of the product. The brands are utilizing this to send a suitable message to the buyer to entice them to purchase the product, thereby, fueling the growth of the global industrial sacks market.Innovative offerings are the easiest way to gain a larger global industrial sacks market share. Innovations in the variety of sack types such as paper sacks, woven PP laminated sacks, and plastic sacks will help players boost their profitability in the global market. Major vendors such as Mondi PLC and BillerudKorsnäs have made significant innovative contributions to the market via their creative sacks in the market.The exponential growth of the cement packaging industry will create lucrative opportunities for prominent players operating in the global industrial sacks market. Nature and usability aspects of cement and its related products are driving the demand for sacks in the global market. India is the second largest producer of cement globally and contributes significantly to the cement demand not just within but even outside the country in the market.
Industrial Sacks Market – Segmentation
This market research report includes a detailed segmentation of the market by industrial application, sack types, and geography.The global industrial sacks market by sack type is segmented into FFS, paper sacks, woven PP laminated, woven PP non-laminated, and plastics. Woven polypropylene (PP) non-laminated segment dominated around half of the total market share in 2018, growing at a CAGR of over 3% during the forecast period. These products are considered to be slightly slippery and are separated easily making them usable across a limited number of industrial applications in the global market.Paper sacks maintain freshness, resist moisture, decrease infestation, and lock-in foul smell. There is a considerable demand for paper sacks which are not only easy to fill and close but are also shelve proof self-sustainable.Vendors such as Mondi, have recently re-launched SPLASHBAG, within the Industrial Paper Sack segment. The bag can sustain in wet environments for about 5 days, and even provides protection against rain for more than 6 hours continuously.
The industrial application in the global industrial sacks market is classified into building & construction, food & beverage, chemicals & fertilizers, retail, animal feed, and others. The chemical and fertilizer is the fastest end-user segment in the global market, growing at a CAGR of more than 3% during the forecast period. The exponential changes in the trade scenarios, rising demand from end-users, increasing agricultural income across developing nations, and the introduction of latest technologies such as genomics, agricultural biotechnology, and organic farming are of the primary factors attributing to the growth of this segment in the global market.Rapid urbanization attributed to growing population, higher disposable incomes, and increasing consumer spending is driving the growth of the building & construction industry. With close to 2.5 billion people expected to be added to the current population by 2050, and approximately 70% of the global populace expected to live in urban areas, the building and construction sector does not really require a boost to grow.
Market Segmentation by Sack Type
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