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Jute Bags Market to Exceed US$ 1.9 Bn Amid Rising Sustainability Concerns in Packaging Industry

Jute Bags Market

Jute Bags Market

NEWARK, NEWARK, UNITED STATES OF AMERICA, May 11, 2022 /EINPresswire.com/ -- As per Future Market Insights (FMI), the demand for jute bags is projected to increase due to their biodegradability, durability, low cost and sustainability. Sales of jute bags are projected to increase at a steady pace over the forecast period (2022-2032).

Growth in the market is underpinned amid rising application of jute bags for a variety of purposes, from carrying lightweight jewellery & gifts and to carrying heavy agricultural produce such as wheat, paddy, etc.

These jute bags are UV-protected and suitable for use with food and they are naturally anti-static. Jute bags with trendy prints and decorations are also gaining immense popularity among tourists and travellers.

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The jute bags are used by different end-use sectors such as fashion, retail and textiles industries. Hence, manufacturers are offering these bags in a different capacity as per the requirement of the end-users such as up to 10 kg, 11-30 kg, 31-50 kg and above 50 kg.

Further, sustainable jute packaging is facilitating the growth in the market as they have more cost-effective method of distribution that produces better results. On the back of these factors, the jute bags market is anticipated to rise at 4.9% CAGR during the forecast period.

Key Takeaways from Jute Bags Market

· By capacity, 11-30 kg of jute bags segment is projected to remain the leading segment, accounting for 38.5% of the total market share by the end of 2032.

· By distribution channel, the offline segment is anticipated to dominate the market during the forecast period.

· Based on end use, the retail segment is projected to register a CAGR of 5.1%, holding over 45.8% of the total market share during 2022-2032.

· South Asia and Europe regions are anticipated to showcase the highest demand for jute bags, accounting for 47% of the market share by the end of 2032.

· India is expected to spearhead the growth in South Asia jute bags market owing to the rising applications in agriculture industry.

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"Growing demand for cost-effective, durable, ecologically friendly, and sustainable packaging products will boost the jute bag sales across a wide range of industries. Furthermore, personalization and printability features on jute bags will create lucrative opportunities for the jute bags manufacturers" says FMI analyst.

Expansion of Food Retail Sector to Supplement the Sales of Jute Bags

The global jute bags market is majorly driven by rising demand from the retail industry. Increasing production output from the food sector will create a substantial demand for jute sacks and bags to store and carry a wide range of food items.

Jute has become more predominant to package several food items such as sugar, paddy, wheat, vegetables, tea and coffee bean. The global retail market has observed healthy growth over the last few years, and is estimated to continue in the forecast years.

In terms of value addition, the food retail industry is one of the most prominent sectors in numerous economies. Also, expenditure on food and household consumption are increasing which is predicted to enhance the economic growth of the retail industry. This is anticipated to create a positive effect on the demand for jute across the globe.

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Jute Bags Market Landscape

PEMA Verpackung GmbH, MANYAN INC., Trident Jute and Bombay Bags are the key players operating in the jute bags market. Addionally, JOYTEX GMBH & CO. KG, Jute Cotton Bags, Asia Jute, Zest tex, Cotheeka Jute Industry and TopTrans International are also noticeable players in the jute bags market. The Tier 1 players in the market hold 10-15% in the global jute bags market.

Jute Bags Market By Category

By Capacity:

Up to 10 Kg
11-30 Kg
31-50 Kg
Above 50 Kg

By End Use:

Household
Retail
Institutional

By Distribution Channel:

Offline
Online

By Region:

North America
Latin America
Europe
East Asia
South Asia
Middle East and Africa (MEA)
Oceania

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

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Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/jute-bags-market

Ankush Nikam
FMI
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