The latest report by IMARC Group, titled “Jute Bag Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global jute bag market reached a value of US$ 1.4 Billion in 2016, exhibiting a CAGR of around 11% during 2009-2016. Jute is the second most important fibre crop, after cotton. It is used in the production of numerous products such as curtains, chair coverings, carpets, area rugs, hessian cloth, bags due to its versatile nature. Jute bags are biodegradable, recyclable, reusable, non-toxic and have some unique physical properties like high tenacity, bulkiness, sound & heat insulation and low thermal conductivity. Owing to these benefits, jute bags are widely being substituted for plastic bags across the globe.
Highlights of the global jute bag market:
- Growing environment consciousness remains the key growth-inducing factor.
- India dominates the global jute bag market, representing the leading producer.
- Jute sack bags are the most popular product type.
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The global jute bag market is growing on account of increasing environmental concerns, such as rising pollution levels, and depletion of ozone layer and important resources. This has prompted the consumers to shift towards environment-friendly products and adopt viable alternatives to harmful materials such as plastic, especially in western countries. Additionally, the ban on the use of plastic bags by many governments due to their non-biodegradable nature has positively affected the demand for jute bags in these regions. Moreover, the diverse product portfolio, option of customization and scope of experimenting with various styles, designs, patterns, shapes and sizes has widened the consumer base of jute bags. Despite these driving forces, the market is restrained by challenges such as fluctuations in the cost of raw materials and presence of substitutes such as paper bags, water hyacinth bags, crochet bags, cotton bags, denim bags, etc. According to the report, the market is further expected to reach a value of US$ 35,671 Million by 2022.
On the basis of product type, the market has been segmented into jute sack bags and jute shopping bags. Currently, jute sack bags dominate the market, accounting for the majority of the sales volume. Region-wise, India represents the leading producer of jute bags, holding the majority of the shares. Other major regions include Bangladesh and China. On evaluating the competitive landscape of the market, it is found that Aarbur, Ashoka Exports, Hitaishi-KK, Howrah Mills Co. Ltd., Shree Jee International India Ltd. and Gloster Limited are some of the key players operative in it.
To view the report summary and Table of Contents, click on: http://www.imarcgroup.com/prefeasibility-report-jute-bag-manufacturing-plant
The report by IMARC Group has examined the global jute bag market on the basis of:
- Jute Sack Bags
- Jute Shopping Bags
- Ashoka Exports
- Howrah Mills Co. Ltd.
- Shree Jee International India Ltd.
- Gloster Limited
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