Gusseted Bags Market Is Also Projected to Reach US$ 26,008.8 Million Revenue by the End of 2026
Future Market Insights has announced the addition of the “Gusseted Bags Market is also projected to reach US$ 26,008.8 million revenue by the end of 2026"report to their offering
Valley Cottage, NY -- (SBWire) -- 10/01/2018 --As per the latest report by Future Market Insights (FMI), the global gusseted bags market is expected to witness sluggish growth. During the forecast period, the market is projected to expand at a CAGR of 2.8%. The global gusseted bags market is also projected to reach US$ 26,008.8 million revenue by the end of 2026. Gusseted bags are considered to be one of the most flexible packaging options. Previously, gusseted bags were used only for packing tea and coffee, however, owing to the ability of gusseted bags to retain the freshness of the food for a long time, these bags are used widely for packaging of various food products. Moreover, gusseted bags are easy to handle, are lightweight and occupy less space.
Various key factors that are driving the demand for gusseted bags are the products packed in gusseted bags tend to remain fresh for a long time, it aids in visual clarity of the printed matter on the bags and also provides ample space for storage. The popularity of gusseted bags is increasing across various industries because of its lightweight, and easy to handle quality. The manufacturers of gusseted bags are also using recyclable raw materials for producing gusseted bags. Advancements in the gusseted bags are leading to its wide application in storing dry food, paints, and fertilizers. Also, handle gusseted bags are gaining popularity due to its low cost and are easy to use.
Key Highlights on the Global Gusseted Bags Market
The global gusseted bags market is segmented on the basis of thickness, application, material type, bag type, and region. Based on the bag type, the market is segmented into side gusseted and bottom gusseted. Among these, side gusseted bags are expected to witness the highest growth. Side gusseted bags are projected to bring in more than US$ 19,100 million revenue by the end of the forecast period.
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On the basis of material type, the market is further segmented into paper, polypropylene, polyethylene, nylon, biodegradable plastics, and metal foil. Polyethylene is expected to be widely used material. By the end of 2026, polyethylene is projected to exceed US$ 6,200 million revenue.
Based on the application, the market segmentation includes coffee & tea packaging, bakery product packaging, other unprocessed F&B packaging, dry processed F&B packaging, wet processed F&B packaging, pet food packaging, consumer good packaging, and other industrial applications. Gusseted bags are expected to be largely used for dry processed F&B packaging. Dry processed F&B packaging is projected to generate more than US$ 5,100 million revenue by 2026 end.
On the basis of thickness, gusseted bags with 2-5 Mil are expected to witness the fastest growth during the forecast period. 2-5 Mil gusseted bags are projected to create an incremental opportunity of over US$ 2,800 million during 2017-2026.
Based on the region, the Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global gusseted bags market during 2017-2026. By the end of 2026, APEJ region is likely to exceed US$ 10,500 million revenue. Due to the increasing population and the increasing use of gusseted bags in packaging the region is witnessing significant growth.
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Leading Companies Competing to Sustain in the Global Gusseted Bags Market
American Plastics Company, TekPak Solutions, PBFY Flexible Packaging, Pacific Bag Inc., International Plastic, Clear View Bag Company, Maco PKG, Associated Bags, ELKAY Plastics, Poly Pak Plastics, Altapac, Columbia Burlap & Bag Company, and United States Plastics Corp, are some of the leading companies in the global gusseted bags market.
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