The global industrial sacks market is projected to produce unit volumes of around 142 billion sacks by 2024, growing at a CAGR of more than 3% during 2018-2024.
CHICAGO, IL, UNITED STATES, January 15, 2019 /EINPresswire.com/ — The market research report on the global industrial sacks market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by industrial application (building & construction, food & beverage, chemicals & fertilizers, retail, animal feed, and others), by sack type (FFS, paper sacks, woven PP laminated, woven PP non-laminated, and plastics), and by geography (APAC, Europe, North America, Latin America, and MEA)
The rapid changes in the trade patterns, agricultural income in emerging economies, growing end-user demands, and variations in environmental regulations are encouraging the players to invest in innovations of products in the global market. The growing popularity of reusable produce bags and food packaging solutions are contributing to the growing revenues in the market.The global industrial sacks market is driven by the growing demand from emerging economies such as APAC, Latin America, and MEA. The implementation of regulated environmental laws restricting the usage of a specific type of sack for packaging and transporting is contributing to the transformation of the global market. The market research report provides in-depth market analysis and segmental analysis of the global industrial sacks market by industrial application, sack type, and geography.
The report considers the present scenario of the global industrial sacks market and its market dynamics for the period 2019−2024. It covers a detailed overview of various market growth enablers, restraints, and trends. The study includes both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the market.
Industrial Sacks Market – Dynamics
The strength, durability, and the dimensional ability to carry and protect the product is one of the primary factors attributing to the growth of the global industrial sacks market. The brands are leveraging packaging to launch or re-launch of any commercial product and gain large consumers in the market. The appearance of the product often influences the buyer immediately, owing to the very first impression of the product. The brands are utilizing this to send a suitable message to the buyer to entice them to purchase the product, thereby, fueling the growth of the global industrial sacks market.Innovative offerings are the easiest way to gain a larger global industrial sacks market share. Innovations in the variety of sack types such as paper sacks, woven PP laminated sacks, and plastic sacks will help players boost their profitability in the global market. Major vendors such as Mondi PLC and BillerudKorsnäs have made significant innovative contributions to the market via their creative sacks in the market.The exponential growth of the cement packaging industry will create lucrative opportunities for prominent players operating in the global industrial sacks market. Nature and usability aspects of cement and its related products are driving the demand for sacks in the global market. India is the second largest producer of cement globally and contributes significantly to the cement demand not just within but even outside the country in the market.
Industrial Sacks Market – Segmentation
This market research report includes a detailed segmentation of the market by industrial application, sack types, and geography.The global industrial sacks market by sack type is segmented into FFS, paper sacks, woven PP laminated, woven PP non-laminated, and plastics. Woven polypropylene (PP) non-laminated segment dominated around half of the total market share in 2018, growing at a CAGR of over 3% during the forecast period. These products are considered to be slightly slippery and are separated easily making them usable across a limited number of industrial applications in the global market.Paper sacks maintain freshness, resist moisture, decrease infestation, and lock-in foul smell. There is a considerable demand for paper sacks which are not only easy to fill and close but are also shelve proof self-sustainable.Vendors such as Mondi, have recently re-launched SPLASHBAG, within the Industrial Paper Sack segment. The bag can sustain in wet environments for about 5 days, and even provides protection against rain for more than 6 hours continuously.
The industrial application in the global industrial sacks market is classified into building & construction, food & beverage, chemicals & fertilizers, retail, animal feed, and others. The chemical and fertilizer is the fastest end-user segment in the global market, growing at a CAGR of more than 3% during the forecast period. The exponential changes in the trade scenarios, rising demand from end-users, increasing agricultural income across developing nations, and the introduction of latest technologies such as genomics, agricultural biotechnology, and organic farming are of the primary factors attributing to the growth of this segment in the global market.Rapid urbanization attributed to growing population, higher disposable incomes, and increasing consumer spending is driving the growth of the building & construction industry. With close to 2.5 billion people expected to be added to the current population by 2050, and approximately 70% of the global populace expected to live in urban areas, the building and construction sector does not really require a boost to grow.
Market Segmentation by Sack Type
• Paper Sacks
• Woven PP Laminated
• Woven PP Non-Laminated
Market Segmentation by Industrial Application
• Building & Construction
• Food & Beverage
• Chemicals & Fertilizers
• Animal Feed
Industrial Sacks Market – Geography
The global industrial sacks market by geography is categorized into APAC, Europe, North America, Latin America, and MEA. APAC occupied the largest global market share in 2018, growing at a CAGR of over 3% during the forecast period. The fast-growing economic conditions and rapid increase in consumption rates are propelling the growth of the APAC region in the global market. Countries such as China, Japan, South Korea, and India are contributing to the revenues in the APAC market. The increase in construction activities will drive the demand for industrial packaging solutions in the APAC market.The end-user industries such as Construction play a vital role in the overall market development in the region. Countries such as Argentina, Mexico, Columbia, Peru, and Uruguay are expected to witness a considerable growth in construction activity in 2019, driven by residential and infrastructure demand. The government in Argentina has planned a new PPP framework, involving investments more than $25 billion investments in PPP.
Market Segmentation by Geography
• North America
• Latin America
o Saudi Arabia
o South Africa
Key Vendor Analysis
The global industrial sacks market is highly competitive due to the presence of various international and regional players. The increasing focus on innovative product offerings, mergers & acquisitions, private equity investors, and huge investments across R&D will help vendors to sustain the intense competition levels in the global market. The quality of products and price differentiation will encourage the players to invest in development and innovations in the market. The rise in GDP across geographies, the growing young populace, rising consumer income, and increasing customer awareness for sustainable packaging solutions will drive the competition levels in the global industrial sacks market.
The major vendors in the global industrial sacks market are:
• Berry Global
• Smurfit Kappa
Other prominent vendors in the global industrial sacks market include E.I. Du Pont de Nemours & Co, Thrace Plastics Holding and Commercial, International Paper Company, Danang Plastic Joint-Stock Company, UmasreeTexplast, STP (Shree Tirupati Polypack), LC Packaging, Muscat Polymers, Segezha Group, Al-Tawfiq, Hood Packaging, El Dorado Packaging, Nampak Packaging, Uflex Limited, INDEVCO, Oji Holdings, United Bags, Maruti Bulk Packaging, QTL Bags, Gopinath Enterprises, Knack Polymers, ProAmpac, Seevent, Nihon Matai, Conitex Sonoco, DS Smith, and Amcor.
Key market insights include
1. The analysis of global industrial sacks market provides market size and growth rate for the forecast period 2019-2024.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global industrial sacks market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of global industrial sacks market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
Source: EIN Presswire