USD 1.51 billion
Report ID: SQSG15P2003 | Region: Global | Published Date: November, 2022 | Pages: 228 | Tables: 93 | Figures: 64
Global Jute Packaging Market size was valued at USD 1.51 billion in 2021 and is poised to grow from USD 1.56 billion in 2022 to USD 1.93 billion by 2030, growing at a CAGR of 3.4% in the forecast period (2023-2030).
Jute bags are manufactured from natural fibers taken from the stems of the Tossa or white jute plant. They are long-lasting, reusable, lightweight, inexpensive, sustainable, and sturdy, with low heat conductivity and antistatic qualities, as well as moderate moisture retention. As a result, they are employed in the production of commercial packaging bags all over the world. Several manufacturers are now developing multi-purpose bags in a variety of sizes, kinds, textures, and colors that may be used for a variety of purposes, such as backpacks, school bags, shopping bags, and carry bags. The ban on plastic bags in several countries is a major element driving the growth of the jute bag industry. Jute bags are robust and have several features such as re-useability, recyclable, biodegradability, and cost-effectiveness that set them apart from other material bags such as plastic bags and paper bags.
US Jute Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.51 billion
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The global jute packaging market is segmented based on type, capacity, application, and region. Based on the type, the market is segmented into pouch, bag, hessian/ sack, and others. Based on capacity, the market is segmented into Up to 10 Kg, 11-30 Kg, 31-50 Kg, above 50 Kg. Based on application, the market is segmented into food & beverages, household, agriculture, and others. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.Analysis by Capacity
Based on capacity, the jute packaging market is segmented into Up to 10 Kg, 11-30 Kg, 31-50 Kg, above 50 Kg. Among these, the 11-30 Kg segment is projected to hold the most substantial share in the market. The segmental growth of the market is attributed to the increased demand for medium sized jute packaging bags of near about 11-30 Kg capacity from a variety of applications including food products, household, agriculture among many others. Hence, this is likely to drive the segmental growth of the market in the upcoming years.
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In 2021, Asia-Pacific region is expected to have the biggest market share. The Asia-Pacific region is further studied into China, India, Japan, South Korea, and the Rest of Asia-Pacific. The regional growth of the market is attributed to countries such as India, China, and Bangladesh have the highest output in the APAC region, attracting packaging product manufacturers to expand their manufacturing facilities in these areas due to the low cost of production. The rising concern for sustainability in the United States and many European countries creates a market potential for the bag business in these regions. Furthermore, the rising trade of food grains in numerous regions raises global demand for jute packaging products.
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The prominent players operating in the jute packaging market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global jute packaging market is segmented based on type, capacity, application, and region. Based on the type, the sack/ hessian segment is projected to hold the most lucrative share in the market. Based on the capacity, the 11-30 Kg segment is projected to hold the most lucrative share in the market. Based on application, the agriculture segment is projected to hold the most lucrative share in the market. Whereas, based on the region, the Asia-Pacific region is projected to hold the most lucrative share in the market.
|Market size value in 2021||USD 1.51 billion|
|Market size value in 2030||USD 1.56 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Jute Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Jute Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Jute Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Jute Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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