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Shopping Bag Market size was valued at USD 11.9 million in 2019 and is poised to grow from USD 12.59 million in 2023 to USD 19.77 million by 2031, growing at a CAGR of 5.80% in the forecast period (2024-2031). 

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. 'Mondi Group', 'Berry Inc.', 'Novolex Holdings Inc.', 'Smurfit Kappa Group', 'Amcor Limited International Paper Company', 'Genpak LLC ', 'Huhtamaki Oyj', 'DS Smith Plc ', 'WestRock Company', 'ProAmpac LLC ', 'Klöckner Pentaplast Group', 'Uflex Ltd.', 'Sealed Air Corporation', 'Coveris Holdings S.A.', 'Interplastica Group', 'Alpack Packaging', 'Supreme Creations Ltd.', 'Ronpak Starlinger & Co. GmbH'

Growing consumer demand for household and personal care goods is anticipated to fuel market expansion.

Retailers frequently offer reusable paper or plastic bags of various varieties for purchase at a reasonable price, while also encouraging consumers to bring their own reusable bags.

The 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 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.

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Product ID: SQMIG15H2063