How Is The Global Retail Bags Market Defined?
Retail bags are containers used by retailers to carry purchases made by customers. They come in various materials, sizes, and designs depending on the store's branding and environmental considerations. It provide customers with a convenient way to carry their purchased items from the store to their homes or other destinations.
Retail Bags Global Market Report 2024 provides data on the global retail bags market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The retail bags market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Retail Bags Market Size Expected To Change, And What Are The Growth Rate Projections?
The retail bags market has experienced strong growth in recent years. It will grow from $16.84 billion in 2023 to $17.98 billion in 2024 at a CAGR of 6.8%. Factors contributing to this growth include urbanization, increased tourism, the growth of home delivery services, the rise of e-commerce, and the popularity of online shopping. The market is expected to grow further, reaching $23.66 billion by 2028 at a CAGR of 7.1%. This growth is driven by the expansion of the retail industry, the increasing number of shopping malls, greater awareness of waste generation, the rise of supermarkets, and increasing consumer spending. Major trends in the forecast period include technological advancements, biodegradable bags, eco-friendly materials, smart packaging solutions, and subscription models.
Which Drivers Are Accelerating Growth In The Retail Bags Market?
The rise of e-commerce is expected to drive the retail bags market forward. E-commerce, involving the digital buying and selling of goods, has grown due to advancements in technology, logistics, and marketing. Retail bags play a vital role in e-commerce by enhancing product packaging and customer convenience. For instance, in May 2024, the U.S. Census Bureau reported $289.2 billion in retail e-commerce sales for the first quarter of 2024, a 2.1% increase from the previous quarter. Thus, the expansion of e-commerce is contributing to the retail bags market's growth.
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What Are The Core Segments Of The Global Retail Bags Market?
The retail bags market covered in this report is segmented –
1) By Material Type: Plastic, Paper, Other Material Types
2) By Pattern: Textured, Printed, Solid, Other Patterns
3) By End User: Grocery Stores, Food Service, Other End Users
Which Emerging Trends Are Reshaping The Retail Bags Market Size?
In the retail bag market, leading companies are developing innovative products like locally-made retail paper bags to support environmental sustainability and improve durability. These bags are produced within specific geographic areas and are designed to promote both environmental responsibility and local economic growth. For example, Visy Industries, an Australian packaging and recycling company, introduced locally-made retail paper bags in February 2024. These heavy-duty bags are crafted from thicker paper for enhanced strength and durability, making them suitable for carrying heavier items without tearing. They are also fully recyclable through Australian curbside recycling bins, offering consumers an eco-friendly disposal option.
What Is The Largest Region In The Retail Bags Market?
North America was the largest region in the retail bags market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail bags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
