Report ID: SQSG15H2001 | Region: Global | Published Date: December, 2022 | Pages: 157
Global Shopping Bag Market is estimated to be USD 10.87 million in 2021 and is projected to reach USD 12.83 million by 2028, at a CAGR of 2.8% during the forecast period (2022-2028).
People benefit greatly from shopping bags in their regular shopping activities. The demand for these products has risen as a result of rising income levels and living standards around the world. High-quality bag development is a continuing emphasis of businesses in an effort to provide consumers with a luxurious shopping experience. The development of biodegradable bags has greatly aided businesses in meeting the need for environmentally friendly goods. In order to lower their carbon footprint, businesses frequently incorporate recyclable materials into the design of their bags.
Additionally, producers place a strong emphasis on creating vibrant, stylish bags to entice customers to buy their goods. These days, businesses advertise their goods through cutting-edge marketing and promotional strategies. To create personalised bags for their corporate clientele, businesses are focusing on the commercial market. For instance, the Prahu Naidu Company is concentrating on creating bags for D-Mart stores all throughout India in a range of sizes and forms. The launch of newer FMCG brands and rising global demand for products connected to personal care and home are both expected to boost shopping bag sales. Rising trends in both offline and online purchasing have boosted demand for these products. The demand for a range of shopping bags is also fueled by consumers' evolving tastes for luxury goods and high-end grocery items.
Growing shopping mall and convenience store infrastructure makes it easier for consumers to shop, which in turn increases demand for these bags that are simple to carry. These items are frequently provided by retail establishments to package and transport the customer's groceries. The abundance of inexpensive grocery bags, however, is expected to curb the demand for upscale shopping bags and, as a result, limit the shopping bag market expansion. Additionally, a rapid breakdown in the global supply chain network brought on by the COVID-19 pandemic is anticipated to impede market expansion.
To get more reports on the above market click here to Buy The Report
The global shopping bag market is segmented based on the product type, by material , by distribution channel, and region. Based on the product type, the market is segmented as reusable bags , non- reusable bags. Based on the material, the global market is segmented into paper, cotton, jute & hemp, plastic. Based on distribution channel, the market is segmented into Hypermarkets & supermarkets, Convenience stores, Online stores, and others. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Type
The global shopping bag market is divided into reusable bags and non-reusable bags based on the type of goods. Due to their extensive usage, the reusable shopping bags segment is expected to dominate the global market. Additionally, consumers are more likely to choose to purchase these shopping bags due to their reusability and widespread availability of bags in a variety of colours and sizes. However, due to advancements in designs, including the use of quickly disposable and eco-friendly materials that help in decreasing the environmental load, the non-reusable bag segment is predicted to rise in the near future.
The global shopping bag market is divided into paper, cotton, plastic, jute & hemp, and other categories based on material. Given that jute and hemp materials give bags greater strength and weight carrying capabilities, the jute and hemp bag segment is anticipated to account for a sizable portion of the market. Additionally, luxury retail companies frequently use jute and hemp textiles to create high-quality handbags.
The global shopping bag market is divided into hypermarkets and supermarkets, convenience stores, internet stores, and others based on the distribution route. Due to their widespread distribution and simple accessibility to customers, convenience stores are predicted to dominate the market. The other segment, on the other hand, is anticipated to increase quickly in the near future because it offers clients a convenient shopping experience.
To get detailed analysis on other segments, Request For Sample Report
The global shopping bag market is divided into five geographic segments: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Due to increasing expenditure on luxury products and the existence of higher income groups in nations like Canada and the United States, the North American region is anticipated to have the greatest share of the global shopping bag market, which is further likely to fuel demand for shopping bags for carrying groceries. The US Department of Commerce's Bureau of Economic Analysis reports that the state's personal consumption expenditure rose by 5.1 percent in 2018 compared to that of 4.4 percent in 2017. The demand for shopping bags to transport various food and beverage goods is also projected to increase as the region's demand for food and beverage products rises. The US Department of Agriculture's Foreign Agriculture Service estimates that sales of food and alcoholic beverages in Canada reached US$ 96 billion in 2018, up 3% from 2017.
Additionally, the region's sales are fueled by the widespread presence of well-known companies like Earthwise Bags Company Inc. and Borse Handbranding, among many others. Due to the high demand for biodegradable and HDPE shopping bags in countries like India and Australia, the Asia-Pacific shopping bag market is predicted to grow at a quicker rate. The demand for single-use plastic bags climbed to 41,797 tonnes in 2017, which is comparable to 1.5 billion retail bags, according to the Australian National University. The demand for biodegradable shopping bags has also skyrocketed in India as a result of rising single-use plastic bag usage and environmental sustainability concerns. The need for shopping bags is anticipated to soar as retail shopping habits for consumer products grow in nations like China and India. The Fung Scholars Organization reports that in China, third-quarter retail sales of consumer goods increased 9.3% year over year to US$ 3,928.62 billion.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The shopping bag market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability.
Top Player in the Global Shopping Bag Market
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 utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our shopping bag market analysis, research report offers a thorough overview of the industry and focuses on important factors including the top players, sources, products, and applications. The research also identifies significant advancements in the industry and provides insights into market trends and the competitive environment. The study includes a number of aspects, in addition to those already mentioned, that have assisted in the market's expansion in recent years.
|Market size value in 2028||USD 12.83 million|
|Forecast Unit (Value)||USD Million|
|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)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Shopping Bag 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 Shopping Bag 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 Shopping Bag Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Shopping Bag Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQSG15H2001