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Jun 23, 2023

Surging Demand for Eco

Market analysts predict that the foodservice paper bag market will continue to grow in the coming years. According to the forecast, the market is expected to reach US$ 958.4 million in 2022 and expand

Market analysts predict that the foodservice paper bag market will continue to grow in the coming years. According to the forecast, the market is expected to reach US$ 958.4 million in 2022 and expand at a compound annual growth rate (CAGR) of 5.1% from 2022 to 2032, ultimately reaching US$ 1,575.9 million by the end of 2032.

By the end of 2022, it is anticipated that the top three countries will control approximately 25-30% of the global market for paper bags used in the foodservice industry. Non-handle bags are expected to dominate around 70% of the foodservice paper bag market by the end of 2022. This preference for non-handle bags is mainly due to the strong inclination of restaurants and foodservice providers towards conventional paper bags.

The recent growth in foodservice paper bag sales can be attributed to the increasing demand for eco-friendly packaging among consumers and the food industry. Government initiatives and restrictions on plastic packaging have also opened up new opportunities for the global foodservice paper bag market. Additionally, the rise of new foodservice businesses worldwide is expected to drive the demand for foodservice packaging, particularly paper bags.

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Overall, the foodservice paper bag market has experienced steady growth over the years, with a CAGR of 4.1% from 2015 to 2021. The market is poised for further expansion in the future, driven by factors such as environmental concerns, government regulations, and the growth of the foodservice industry.

Key Takeaways

Competitive Landscape

Major players operating in the global foodservice paper bags market are trying to expand their capacities by developing their facilities. Also, several key players are adopting the merger and acquisition strategy to strengthen and increase their resources. These players are focusing on developing innovative paper bags to gain more market shares.

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Some of the latest developments by key players are as follows–

In August 2022, Novolex Holdings LLC announced the launch of innovative paper bags for more secure deliveries for retailers and restaurants. The paper bag offers a wide opening for easy loading, a flat bottom to keep items secure, and sturdy paper twist handles for easy & reliable carrying.

In March 2022, WestRock Company expanded its production facility by investing US$ 47 Million at its consumer facility in Claremont.

In January 2022, Huhtamaki Oyj acquired a company named Smith Anderson Group Ltd. in Portland. The company manufactures and sells paper bags in Eastern Europe.

Key Players:

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Foodservice Paper Bags Market Outlook by Category

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About FMI

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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