Multiwall Paper Bags Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2016-2021 and Forecast 2022-2028

Description

Multiwall Paper Bags Market size was valued at USD 12.5 billion in 2021 and is expected to reach USD 15.9 billion by 2028, at a CAGR of 3.5% during the forecast period 2022 to 2028. owing to its increasing durability, eco-friendly, and which is cost-effective for packaging for various products. Moreover, these are 100% recyclable, biodegradable, and reusable and can withstand more pressure when compared to plastic bags. Furthermore, paper bags are customizable, high-tear resistance, easy storage, and present less of a suffocation risk to young children or animals. All these factors drives the growth of the market are anticipated to drive the growth of the market over the forecast period. The report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global  market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). In 2020-2021, the worldwide multiwall bag market is likely to see a moderate slowdown in growth. The COVID-19 pandemic has wreaked havoc on the economy and slowed down production. During the first and second quarters of 2020, trade, travel, retail, and manufacturing operations were disrupted, and the production of packaging materials and the supply chain came to a halt. Several countries, on the other hand, have lifted trade restrictions, which is projected to boost market growth. The long-term impact of this situation could be unparalleled, limiting the market for multiwall sacks’ growth.

Key Developments:

In June 2020, Mondi Group has announced that it has upgraded the paper bags facility in Hungary, company has made Euro 7 million investment in state-of-the-art paper sack converting machine at Mondi’s plant in Nyiregyhaza, Hungary, which will increase the plant’s quality, efficiency and service standards to produce high-end and sophisticated paper sacks for food purposes.