Consumer Shift towards Eco-Conscious Choices: Jute Bags Market...

Consumer Shift towards Eco-Conscious Choices: Jute Bags Market Analysis 2032

Veröffentlicht 2023-12-14 10:21:16

According to recent research, the worldwide jute bags market, valued at US$ 1.2 billion in 2022, is expected to experience robust growth, with projections indicating a potential increase to US$ 1.9 billion by 2032, driven by a steady 4.9% CAGR over the decade. Furthermore, the study suggests that the global jute bags market could create an additional opportunity worth US$ 783 million throughout the forecast period.

The global jute bags market is poised for substantial growth, with overall sales anticipated to expand by 1.6X from 2022 to 2032. The upswing is particularly driven by the expanding food and retail sector, acting as a catalyst for increased sales of jute bags. Furthermore, the growing adoption of jute bags for packaging food items is set to amplify demand within the commercial sector. With a focus on end-use, the retail segment is positioned to assert dominance in the global jute bags market, reflecting the versatile and sustainable appeal of jute as a preferred material in the packaging landscape.

India is considered the most lucrative market for jute bags due to several compelling factors. The adoption of jute bags in the agriculture sector plays a pivotal role in driving their sales in India. According to data from the Office of the Jute Commissioner, jute goods production, including hessian and sacking bags, reached approximately 756,000 metric tons in 2021. The Indian Jutes Mills Association reports that the value of jute goods exports from India was substantial, with US$ 109 million for hessian goods and US$ 59 million for sacking goods in 2020-2021. The Indian jute bags market is expected to remain robust, holding a significant share in South Asia, with a projected incremental opportunity of US$ 148 million by 2032, indicating a 2.1x growth between 2022 and 2032.

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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 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.

“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.

Market Benefits:

Comprehensive Analysis and Future Estimations: The study offers an in-depth analysis of the global jute bags market, providing valuable insights into current trends and future estimations. This enables stakeholders to identify and understand the imminent investment opportunities within the market.
Competitive Outlook: The report thoroughly analyzes the key market players and their strategies, providing a comprehensive understanding of the competitive landscape. This information helps stakeholders assess the competitive dynamics and make informed decisions regarding partnerships, collaborations, and investments.

Jute Bags Market Landscape