Craft Bags Market: Industry Players to Show High Growth Rate by 2024
Deerfield Beach, FL -- (SBWIRE) -- 10/13/2017 -- Craft bags are manufactured from paper produced from chemical pulp during the craft process. Bags made of wood fibers have an aesthetic appeal as well as provides maximum strength. Craft bags are primarily used for packaging grocery items, vegetables, fruits, and other lightweight products. White and brown craft bags are available in the market. Craft bags are easy to handle and convenient to use. They are also cost-effective, recyclable, and environment-friendly. These features of the craft bag have attracted the attention of the consumers as well as the manufacturers across the globe. Scope for market growth has further increased due to product development initiatives were undertaken by the manufacturers.
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The global craft bags market is segmented into its application, product type, and geography. On the basis of application, the market is divided into food, grocery, customer goods, pharmaceutical, confectionary, stationary, personal use product and cosmetic, home care products, and others. Based on product type, the market is segregated into paper carry bags, block bottom craft bags, confectionery craft bags, check out craft bags, and others. Diversification based on geography is seen into North America, Latin America, Asia-Pacific, Europe, and the Middle East and Africa.
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There has been a rapid increase in the demand for environment-friendly products which has successively boosted the growth of the craft bags market as well. Environment consciousness among the consumers will be one of the major driving factors in the craft bags market growth. Craft bags are recyclable, cheap, and are convenient to use. These features make craft bags a highly demanded product in the market. Rising groceries, cosmetics and personal care product in the market has fuelled the craft bags market growth. Also, demand for craft bags from the cement manufacturers will influence the market growth positively. Manufacturers are now focusing on research and product development to introduce better and innovative bags in the market. This will widen the scope of growth for the craft bags market.
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The largest share of the craft bags market is held by North America. Growth can be attributed to the increasing demand for eco-friendly packaging products in this region especially in countries such as the U.S. and Canada. Following North America in its growth will be Asia Pacific. Demand for craft bags will increase in the manufacturing economies of China, Japan, and India which will boost the overall market growth in Asia Pacific. Moderate growth will be witnessed in the European countries such as Germany, France, Spain, Italy, and the U.K. and a considerable market share will also be provided by Latin America and the Middle East and Africa.
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Some of the prominent companies in the craft bags market include International Papers, Kent Paper, Stanpac, Genpak, Biopac, Berry Plastics Corporation, Bemis Company Incorporated, Linpac Packaging Limited, and Novolex.