Global Jute Packaging Market

Jute Packaging Market Size, Share, Growth Analysis, By Type(Pouch, Bag, Hessian/ Sack, Others), By Capacity(Up to 10 Kg, 11-30 Kg, 31-50 Kg, above 50 Kg), By Application(Food & Beverages, Household, Agriculture, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG15P2016 | Region: Global | Published Date: April, 2024
Pages: 228 | Tables: 93 | Figures: 76

Jute Packaging Market Dynamics

Jute Packaging Market Driver

  • The ban on plastic bags in several countries is a major element driving the growth of the jute bag industry. Jute bags are robust and have several features such as re-useability, recyclable, biodegradability, and cost-effectiveness that set them apart from other material bags such as plastic bags and paper bags. The jute bags are sturdy, allowing them to hold more weight. As a result of this issue, jute bags are becoming more popular in the food industry for storing and transporting food grains. Jute bags are durable and do not rip as easily as plastic and paper bags, making them popular among end consumers.

Jute Packaging Market Restraint

  • Lack of customer reachability along with the raw material availability in some regions of the world is projected to limit the global jute packaging market growth. Further, the availability of other alternative products such as paper, plastic, metal, glass and other packaging products also acts as a key impediment to the jute packaging market growth.
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Jute Packaging Market size was valued at USD 1.51 billion in 2019 and is poised to grow from USD 1.56 billion in 2023 to USD 1.93 billion by 2031, growing at a CAGR of 3.4% in the forecast period (2024-2031).

The prominent players operating in the jute packaging market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Hitaishi-KK Manufacturing Company', 'Aarbur', 'Gloster Jute Limited', 'Ludlow Jute & Specialities Ltd.', 'Agarpara Jute Mills Ltd.', 'Asha Jute Industries Limited', 'Bally Jute Company Limited', 'Howrah Mills Co. Ltd.', 'Cheviot Company Limited', 'Delta Jute Mills Company Limited', 'Ganges Jute Pvt Ltd.', 'Hooghly Infrastructure Pvt. Ltd.', 'Kolkata Jute Industries Pvt. Ltd.', 'Shree Hanuman Jute Mills Pvt. Ltd.', 'New Central Jute Mills Co. Ltd.', 'Naffar Chandra Jute Mills Ltd.', 'The Naihati Jute Mills Co. Ltd.', 'The Victoria Jute Company Limited', 'Wellington Jute Mill', 'Zhejiang Jute Texitile Co. Ltd.'

The ban on plastic bags in several countries is a major element driving the growth of the jute bag industry. Jute bags are robust and have several features such as re-useability, recyclable, biodegradability, and cost-effectiveness that set them apart from other material bags such as plastic bags and paper bags. The jute bags are sturdy, allowing them to hold more weight. As a result of this issue, jute bags are becoming more popular in the food industry for storing and transporting food grains. Jute bags are durable and do not rip as easily as plastic and paper bags, making them popular among end consumers.

The expansion of the Jute Packaging market was aided by enhanced lifestyle, increased urbanization, rise in disposable income and change in consumer preference positively affect the jute bag market. The primary factors supporting the growth of the jute bag market is the increase in environmental consciousness. The increased demand for jute bags due to several benefits such as moderate moisture retention, low thermal conductivity, and high insulation, as well as the bags being used as packaging material for bulk products as well as shopping and gift bags, is driving market expansion. The increased popularity of jute bags due to features such as biodegradability, durability, low cost, and high strength, among others, as well as the product's widespread use as packaging material for bulk goods as well as shopping and gift bags, all have an positive impact on the market.

In 2021, Asia-Pacific region is expected to have the biggest market share. The Asia-Pacific region is further studied into China, India, Japan, South Korea, and the Rest of Asia-Pacific. The regional growth of the market is attributed to countries such as India, China, and Bangladesh have the highest output in the APAC region, attracting packaging product manufacturers to expand their manufacturing facilities in these areas due to the low cost of production. The rising concern for sustainability in the United States and many European countries creates a market potential for the bag business in these regions. Furthermore, the rising trade of food grains in numerous regions raises demand for jute packaging products.

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Global Jute Packaging Market

Report ID: SQMIG15P2016

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