Shopping Bag Market Share, Demand, Top Players, Industry Size, Future Growth By 2029

 The global shopping bag market is slated to grow meteorically in the upcoming years. The expanding global population, rising income levels, and increasing shopping activities are anticipated to fuel the demand for shopping bags. Fortune Business Insights™ has presented this information in an upcoming report, titled, “Shopping Bag Market, 2022-2029”.

As per the report, the shopping bag market is gaining immense popularity due to several reasons. For instance, the rising focus of manufacturers to develop colorful and fashionable bags to attract a vast consumer base is anticipated to fuel the demand for these bags and foster market growth.

COVID-19 Impact-

The shopping bag market has witnessed a limited impact of the global pandemic. The demand for shopping bags has mostly remained unchanged during the pandemic. The daily shopping activities dynamically changed during the pandemic. The shutdown of commercial spaces to curb the virus spread has declined the demand for shopping bags. The production levels were also reduced due to the low available workforce. However, online shopping and grocery shopping increased during the pandemic. The market continues growing amidst the pandemic and is expected to witness steep growth post-pandemic.

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Fortune Business Insights™ lists out all the shopping bag market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

• Earthwise Bags Company Inc.
• Mato & Hash
• E
• Creative Green Life
• Beegreen
• Simply + Green Solutions Inc.
• Yookeehome
• Envirosax
• Houseables
• AFT TASI LLC
• Ecosac Co.

Key Players Assessment in this Research:

• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in this market
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

Report Aim & Scope:

• An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
• The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
• The various parameters accelerating the growth of the market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the market during the forecast period.

Report Coverage-

• Highlights the key emerging trends for the market.
• Illustrates the latest technological advancements in the market.
• Provides valuable insights into the regulatory scenarios of the market.
• Highlights the impact of the COVID-19 pandemic.
• Highlights the regional analysis across five major geographies: North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Drivers & Restraints-

Escalating Demand for Personal Care & Household Products to Boost Market Growth

The increasing demand for personal care and household products worldwide is expected to augment the global shopping bag market growth. The rising number of FMCG brands is estimated to fuel the demand for shopping bags. The growing trends of online and physical shopping are anticipated to amplify market growth. Additionally, the inclining consumer preferences towards premium and luxury grocery products are expected to stimulate the market growth.

The rising numbers of convenience stores and shopping malls are anticipated to fuel the demand for easy-to-carry shopping bags. The rising focus of manufacturers to develop colorful and fashionable bags are predicted to fuel the market growth. Additionally, the surging promotional and marketing activities by companies are expected to boost market growth in the forthcoming years. For instance, the Prahu Naidu Company designs bags in various sizes and shapes for D-Mart stores in India. Additionally, the rising focus of manufacturers on producing sustainable and eco-friendly bags is anticipated to fuel the market growth.

However, the widely available low-cost substitutes may hinder the demand for premium shopping bags and hamper the market growth.

Regional Insights-

North America to Attain the Largest Share Stoked by High Spending on Luxury Goods

North America is projected to attain the most prominent global shopping bag market share. The presence of high-income groups and the rising consumer expenditure on luxury shopping goods across countries such as the United States and Canada are anticipated to fuel market growth. The increasing demand for shopping bags to carry foods and beverages is expected to foster market growth. Additionally, key players present in the region, such as Borse Handbranding and Earthweise Bags Company Inc., are predicted to drive the market growth.

Asia Pacific is anticipated to witness rapid growth in the forthcoming years. The rising demand for HDPE and biodegradable bags across countries such as Australia and India is expected to augment the market growth. The surging focus on single-use plastic bags and the rising concerns for environmental sustainability in India has raised the demand for biodegradable bags. Additionally, the increasing retail shopping trends in countries such as India and China are expected to augment the market growth.

Segmentation-

On the basis of product type, the market is bifurcated into non-reusable bags and reusable bags. On the basis of material, the market is segmented into jute & hemp, plastic, cotton, paper, and others. On the basis of distribution channels, the market is fragmented into online stores, convenience stores, hypermarkets/supermarkets, and others. Geographically, the market is classified into five major regions- North America, Asia Pacific, Europe, South America, and the Middle East & Africa.

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Competitive Landscape-

Key Players to Launch Sustainable Products for Intesifying Competition

The global shopping bags market comprises a few key players operating at domestic and international levels. They are emphasizing on product innovation and new product launches through extensive R&D activities. They are currently focusing on developing sustainable products due to the rising environmental sustainability concerns. Additionally, they are aiming on partnerships, mergers, acquisitions, and others to amplify their market presence. For instance, Novolex acquired Zenith Specialty Bags in October 2019 to strengthen its packaging business.

The Global Shopping Bag Market Research/Analysis Report Contains Answers to your following Questions:

• Which Manufacturing Technology is used for Shopping Bag? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
• Who Are the Global Key Players in This Shopping Bag Market? What are Their Company Profile, Their Product Information, and Contact Information?
• What Was Global Market Status of Shopping Bag Market? What Was Capacity, Production Value, Cost and PROFIT of Shopping Bag Market?
• What Is Current Market Status of Shopping Bag Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Shopping Bag Market Trends by Taking Applications and Types in Consideration?
• What Are Projections of Global Shopping Bag Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
• What Is Shopping Bag Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
• What Is Economic Impact On Shopping Bag Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
• What Are Market Dynamics of Shopping Bag Market? What Are Challenges and Opportunities?
• What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Shopping Bag Industry?

Industry Developments-

• December 2019: Challice Ltd. unveiled a fully sustainable plastic shopping bag to provide eco-friendly, high-quality bags to consumers in the U.K.

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