Packaging sacks: Key market research findings
- High demand for plastic-based packaging sacks
- Growing preference for high-barrier packaging sacks
- Leading players include Sonoco, Global Pak, Hood Packaging, LC Packaging, and Mondi
Technavio has released a new market research report on the global packaging sacks market, which is anticipated to grow at a steady CAGR of around 2% between 2016 and 2020. The increase in demand for convenience packaged foods has boosted the demand for plastic-based flexible packaging. Plastic has become a key component in packaging sacks because of its flexibility, durability, light weight, and low cost. Also, it is suitable for all types of packaging products such as food, chemicals, and fertilizers. APAC is the largest revenue-generating region in the market and occupied around 33% of the overall market share in 2015. Much of this region’s growth comes from the high demand for packaging sacks from the food and construction sectors.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the latest trends gaining prominence in the market is the increasing demand for high-barrier packaging sacks. High-barrier packaging sacks contain high-barrier resins, which provide better product protection from moisture and oxygen and provide a longer shelf life. High-barrier packaging sacks have higher performance than other packaging products as specialized coatings and laminated structures along with resins are used to develop this form of packaging. Biaxially-oriented polyethylene terephthalate (BOPET) and ethylene vinyl alcohol (EVOH) are the most popular high-barrier plastics used in such kind of packaging,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The construction sector dominated the market in 2015 and accounted for around 29% of the total market share. 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. The growth infrastructure development and the subsequent rise in construction activities will boost the growth of this segment in the coming years.
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.
A more detailed analysis is available in the Technavio report, Global Packaging Sacks Market 2016-2020
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Flexible Paper Packaging Market 2015-2019
- Global Paper and Paperboard Container And Packaging Market 2016-2020
- Global High Density Polyethylene (HDPE) Market 2015-2019
- Global Linear Low Density Polyethylene Market 2015-2019
- Global Packaging Market 2016-2020Flexible Packaging Market in APAC 2015-2019
