Global Shopping Bag Market Revenue to Reach $17.66 billion by 2028 | Consumers and
Global shopping bag market is estimated to be USD 11.9 billion in 2021 and is projected to reach USD 17.66 billion by 2028, at a CAGR of 5.8% during the forecast period (2022-2028).
Westford, USA, Dec. 13, 2022 (GLOBE NEWSWIRE) — In the United States shopping bag market, approximately 100 billion plastic shopping bags are used each year. -It takes about 12 million barrels of oil to make that many plastic bags. -It would take the equivalent of nearly 50 million cars off the road for a year to offset the greenhouse gases emitted from making all those plastic bags. -The majority of Americans (75% percent) say they would be likely to use reusable shopping bags if stores gave them a discount for doing so, and if the bags were more convenient to use. -Most people surveyed by SkyQuest (84 percent) said they reused plastic shopping bags for other purposes, such as trash can liners or packing materials. -Although paper shopping bags require more energy and water to produce than plastic bags, they generate less pollution.
Sales of single-use shopping bags have declined across the globe as consumers and governments have become more aware of the environmental impacts of these products. However, the market for reusable shopping bags is growing, and SkyQuest believes that there is significant opportunity for companies to capture this market. Our analysis of the shopping bag market shows that the reusable bag market is currently undervalued and that there is significant potential for growth. The market for reusable bags is expected to grow at a compound annual rate of 9% between 2022 and 2028, while the sales of single-use bags are expected to decline at a compound annual rate of 5%. This presents a significant opportunity for companies that are able to capture market share in the reusable bag market.
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Our industry analyst believes that companies in the shopping bag market should focus on three key areas in order to be successful in this market: product innovation, marketing, and distribution.
Product Innovation: Reusable bags must offer consumers a compelling value proposition in order to be successful. This means that they must be durable, convenient, and affordable.
Marketing: It is important for companies to communicate the value proposition of their products to consumers in a way that resonates. This can be done through branding, advertising, and public relations.
Distribution: Companies need to have a well-developed distribution strategy in order to be successful in the reusable bag market. This includes both online and offline distribution channels.
Trend Analysis: Personalized Shopping Bags are Gaining Momentum in Global Shopping Bag Market
In its trend analysis of the shopping bag market, SkyQuest found that sales of reusable shopping bags have grown significantly in recent years. This is largely due to concerns about the environmental impact of disposable shopping bags. Reusable shopping bags are made from a variety of materials, including cloth, nylon, and polyester. They come in a variety of sizes and shapes, and can be used for a variety of purposes, including grocery shopping, carrying books, or storing items.
In recent years, the shopping bag market has seen a number of trends that are likely to continue into the future.
One of the most notable trends is the move away from plastic bags to more eco-friendly options such as reusable fabric bags or paper bags. This is being driven by both retailers and consumers who are becoming more aware of the environmental impact of plastic bags.
Another trend is the move towards designer shopping bags. This is being driven by the increasing popularity of luxury brands and the desire of consumers to show off their personal style.
There is a trend towards more personalized shopping bags. This is being driven by retailers in the global shopping bag market who want to create a more unique customer experience and by consumers who want their purchase to reflect their personality.
The rise of e-commerce: The growth of online shopping has had a major impact on the shopping bag industry. E-commerce companies such as Amazon have disrupted traditional retail models, and as a result, shoppers are increasingly opting for home delivery over in-store shopping.
Innovations in bag design: As the market for reusable bags grows, so too does the need for innovation in bag design. Companies are now offering a wide range of reusable bag options, from foldable bags to ones made from recycled materials.
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Survey Reveals Consumers and Retailers in Global Shopping Bag Market are Shifting from Single Use to Reusable Bags
In its annual survey of shopping bag and consumer behavior, SkyQuest found that shoppers are becoming more conscious of the environmental impact of their choices and are increasingly seeking out reusable bags. According to the survey of the global shopping bag market, 43% of respondents said they always or usually buy reusable bags, up from 40% last year. When asked what would motivate them to use reusable bags more often, the most popular response was “to help the environment. “Concern for the environment was also reflected in other choices made by shoppers surveyed by Gartner. For example, nearly half of respondents said they had bought “eco-friendly” products in the past year, and 41% said they were willing to pay more for such products.
When it comes to reusing shopping bags, it was found that shoppers are most likely to reuse bags from grocery stores (67%), followed by department stores (47%) and clothing stores (46%) in the global shopping bag market. The survey also found that shoppers are more likely to reuse bags if they receive a discount for doing so (63%) or if the store offers a loyalty program (56%).
When asked what would cause them to stop using reusable shopping bags, the most popular response was “if the store stopped offering them” (cited by 73%), followed by “if they became too expensive” (cited by 41%). Other reasons included “if I forgot to bring them with me” (cited by 39%), and “if they became inconvenient to use” (cited by 38%).
In fact, the number of respondents in the shopping bag market who said they always or often use disposable bags declined from 35% in 2018 to 23% in 2022. Reusable bags aren’t just good for the environment – they’re also good for wallet. The average cost of a reusable bag is $0.50, while the average cost of a disposable bag is $0.19. Over the course of a year, this can add up to significant savings.
So, what’s driving this shift towards reusable bags? In addition to an increased awareness of the environmental impacts of disposable bags, many municipalities have enacted bans or fees on disposable bags. This has made shoppers more conscious of their choices and has helped to drive down the use of disposable bags
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Major Players in Global Shopping Bag Market
Earthwise Bags Company Inc.
Mato & Hash, PLANET.E
Creative Green Life,
Beegreen, Simply + Green Solutions Inc.
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