Overview of the global packaging sacks market
Market research analysts at Technavio predict the global packaging sacks market to grow at a CAGR of more than 2% by 2020. The rising demand for plastic-based packaging sacks is one of the top drivers that will lead to the growth of this market during the forecast period. Plastic packaging is increasingly replacing paper and jute packaging due to its flexibility, durability, lightweight, and low-cost properties. Furthermore, as plastic-based packaging is suitable for all types of packaging products such as food, chemicals, and fertilizer, its demand among the end users will grow significantly over the next few years.
A recent trend emerging in the market is the increasing demand for high-barrier packaging sacks. This type of packaging solution contains high-barrier resins, which provide better protection from moisture and oxygen and extends the shelf life of food products. High-barrier packaging sacks have a specialized coating and laminated structures along with resins that allow better performance than any other packaging products. Some of the high-barrier plastics that are gaining popularity among the consumers include biaxially-oriented polyethylene terephthalate (BOPET) and ethylene vinyl alcohol (EVOH). Due to their numerous advantages, high-barrier plastics are mainly used in the food and chemical industries. Dow, for instance, has made recyclable barrier films using RETAIN polymer modifiers, which helps in the recycling of films without affecting the quality of the barrier film.
Segmentation by end users and analysis of the packaging sacks market
- Construction sector
- Chemical and fertilizer sector
- Food sector
- Horticulture sector
According to this market study report, the construction sector dominated the market by accounting for a market share of nearly 29% during 2015. Packaging sacks are extensively used in the construction industry owing to its ability to aid in the packaging of construction materials like sand, cement while making roads, ports, buildings, and other construction activities.
Geographical segmentation and analysis of the packaging sacks market
- Americas
- APAC
- Europe
- ROW
The packaging sacks market in APAC is expected to grow at a CAGR of nearly 3% by 2020. Factors such as increasing demand for packaging sacks and strong production and consumption of packaging sacks in developing countries like China and India will drive the prospects for market growth in this region. The food and construction sectors have also increased their demand for packaging sacks, which, in turn, improved the GDP growth rate of APAC countries as these regions have excellent infrastructure and good transportation systems. Additionally, recent technological improvements in most APAC countries have also led to the large-scale production of flexible packaging sacks, which in turn will spur its adoption among industries for a wide array of functions.
Competitive landscape and key vendors
The packaging sacks market is highly fragmented due to the presence of numerous international and local vendors. The level of competition will further increase among the market vendors in terms of product differentiation, portfolio, and pricing. Moreover, the companies are expanding their businesses by setting up new manufacturing plants and launching new products in the emerging markets. The international vendors are expected to grow during the forecast period by acquiring regional or local vendors. For instance, LC Packaging acquired Geerings Horticulture Products to expand its business and services in the UK.
Key vendors in the market are -
- Global Pak
- Hood Packaging
- LC Packaging
- Mondi
- Sonoco
The other prominent vendors in this market include Bemis, El Dorado Packaging, Greif, Knack Packaging, Lincon Polymers, TMR Woven Bags and Sacks, and Wenzhou SMOO Bags.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global packaging sacks market?
- What are the key market trends impacting the growth of the global packaging sacks market?
- What are the challenges to market growth?
- Who are the key vendors in the global packaging sacks market?
- What are the market opportunities and threats faced by the vendors in the global packaging sacks market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW.
- What are the key outcomes of the five forces analysis of the global packaging sacks market?
Technavio also offers customization on reports based on specific client requirement.
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