Global Produce Bag Market Demand, Future Business Growth 2033 |...

Global Produce Bag Market Demand, Future Business Growth 2033

Posted 2024-06-19 19:46:54

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According to the latest report by Future Market Insights (FMI), the global produce bag market is set to experience significant growth over the next decade. Valued at US$ 656.6 million in 2024, the market is projected to reach US$ 1,054 million by 2034, reflecting a steady CAGR of 4.90%. This growth pattern contrasts with the previous CAGR of 3.80% observed between 2019 and 2023, indicating a positive trend despite global efforts to reduce plastic usage.

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Key Market Insights:

Rising Preference for Fresh Fruits and Vegetables: The global health and wellness trend has led to a growing preference for fresh fruits and vegetables among consumers. This trend has translated into increased demand for produce bags, which offer convenient and safe packaging options for transporting and storing fresh produce.
Convenience as a Key Driver: Produce bags offer consumers convenience by enabling quick selection, transport, and storage of fresh produce. In today’s fast-paced lifestyle, consumers value convenience, making produce bags a popular choice for busy individuals who seek efficient and hassle-free packaging solutions.
Growing Environmental Concerns: Investors are increasingly considering environmental factors when making investment decisions. The development of biodegradable and compostable produce bags addresses environmental concerns and appeals to environmentally conscious consumers. This trend is expected to attract a new segment of customers with environmental priorities, further driving market growth.

Trend Analysis:

Compartmentalized Convenience: Consumers seek products that cater to their specific needs for produce selection. Multi-chamber produce bags, introduced by companies like Sonoco Products Corporation and Sealed Air Corporation, offer innovative solutions to meet consumer demands.
Inclusivity in the Produce Aisle: Efforts to reduce food waste have led to the development of produce bags for “imperfect” foodstuffs, promoting inclusivity in the supply chain. Collaborations between supermarkets and bag manufacturers, such as Walmart and Kroger, facilitate the design of such options.
Hyper-Local Partnerships: The trend towards local produce fosters innovative partnerships between farmers and bag manufacturers using recycled materials sourced from the same region. Companies like Winpak Ltd. are leveraging their global presence to develop local production alliances.
Extended Shelf Life Solutions: Research aims to address food wastage by enhancing the shelf life of fruits and vegetables. Proposed solutions, such as incorporating ethylene gas with controlled release capabilities into bags, are being explored by companies like Amcor Ltd. and Dow Chemical Company.
Antimicrobial Protection: Ensuring food safety is paramount. Biodegradable produce bags with built-in antimicrobial properties, developed by companies like Trevira, offer potential solutions to enhance food safety standards.

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Key Segments

By Material: