Global Preservation Bags Market Size, Share & Trends Report by Type (PE, PVC, and PVDC), and by Application (Home Use and Commercial) Forecast (2022-2028)

The global preservation bag market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The surge in the population coupled with increasing disposable income is anticipated to drive the growth of the global preservation bags market. According to the data published by UNCTAD in 2021, the share of the urban population increased to 56.2% in 2020. In developed economies, 79.0% of people live in cities. Also, as per the data published by United Nations Organization, the global population is projected to increase by 2 billion persons in the next 30 years from 7.7 billion in 2020 to 9.7 billion in 2050 and could peak at nearly 11 billion around 2100. The growth has been driven by increasing urbanization and accelerating migration. 61.0% of the global population lives in Asia, 17.0% in Africa, 10.0% in Europe, 8.0% in Latin America, and the remaining 5.0% in Northern America. Moreover, as per the data published by Statistics Canada,  the share of disposable income for the household in the lowest quintile increased from 6.1% in the first quarter to a high of 7.2% in the second quarter of 2020. Also, as per OECD, the average household net adjusted disposable income per capita is $30,490 per annum.

 

Looking toward the demand for preservation bags, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in September 2021, ProAmpac launched recyclable polyethylene (PE) flat bottom pouch suitable for food packaging. The pouches are developed from ProAmpacs’s R-2000 Proactive recyclable structure. Additionally, the R-2000 provides controlled tearing for easy opening. The pouch is available with ultra moisture or oxygen barrier while accommodating applications such as pet food & treats, human food, and home care products. Further, in March 2021, N Brown Group Plc launched Green Polyethylene (GE) bags. Green PE is a bio-based plastic derived from sugarcane and therefore produced from a renewable source. Thus, such launches are anticipated to drive the growth of the global preservation bags market during the forecast period.

 

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Plasticnet Co.Ltd., Foster Stephens, and Light Impressions among others

 

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

 

Global Preservation Bags Market Report by Segment

By Type

PE

PVC

PVDC

 

By Application

• Home Use
• Commercial

 

Global Preservation Bags Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa