According to the latest report by IMARC Group, titled “Jute Bag Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global jute bag market size reached US$ 2.07 Billion in 2020. Jute represents one of the most popular fibers, along with cotton, on account of its golden, silky appearance. It is acquired from the bark of two plants, namely, white and Tossa jute, and spun into coarse threads for being further utilized in the production of ropes, carpets, and fabrics. It is cost-efficient, reusable, recyclable and biodegradable as no residue is left after degradation. Consequently, it is extensively employed in the packaging and manufacturing of bags around the world.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Jute Bag Market Trends:
Due to the favorable properties of jute, including low thermal conductivity, remarkable insulation and moderate moisture retention, jute bags are used to pack bulk goods, especially in supermarkets and hypermarkets. Apart from this, growing environmental concerns have increased the inclination toward natural and biodegradable products like jute bags. This, in confluence with initiatives undertaken by governments of different countries to expand job opportunities within their country and minimize the utilization of single-use plastics, is strengthening the market growth. Furthermore, market players are introducing a wide range of jute-based products like handbags, wallets, tablemats, room dividers, folders, jewelry, and sandals. They are also coming up with innovative and customized bag options in different designs, shapes, sizes and styles to suit the preferences of the customers. Looking forward, the market value is projected to reach US$ 3.49 Billion by 2026, expanding at a CAGR of 9.06% during the forecast period (2021-2026).
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- Based on the product type, jute sack bags hold the largest market share, followed by jute shopping bags.
- On the basis of the end use, the market has been bifurcated into the retail and institutional segments. At present, the retail segment exhibits a clear dominance in the market.
- Based on the price, premium jute bags account for the majority of the total market share, followed by mass jute bags.
- Country-wise, the market has been divided into India, Bangladesh, and China. Amongst these, India enjoys the leading position in the market.
- The competitive landscape of the market has been examined, along with the detailed profiles of the key players operating in the industry.
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