In terms of revenue, the global block bottom bags market is projected to grow at a CAGR of 4.8% during the forecast period of 2021–2029, owing to several factors, about which TMR offers detailed insights and forecasts in the block bottom bags market report.
Block bottom bags are in high demand in the market, as they provide shelf stability to their solid level bottom. The secure foundation is perfect for packaging solutions for a variety of consumer goods, including rice, tea, coffee, cereal, and others. Block bottom bags are ideal substitutes for costly paper bags. Shaped as a brick-like form, it is widely used in the various industries. This packaging format is an advancement over the traditional stand-up pouch. Block bottom bags are widely used in the packaging business, particularly in the food sector. TMR team segmented the analysis of block bottom bags market based on material, capacity, end-use, and region. In terms of material, the plastic segment is estimated to account for a substantial share of the of the global block bottom bags market.
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Flexible packaging materials have several sustainability advantages over rigid packaging materials. These include low raw material consumption, reduced energy usage, relatively low waste production, and low carbon footprint. Reducing the amount of material used in the packaging can lead to a lowered environmental impact. Governments worldwide are focusing on framing various stringent policies regarding the reuse and recyclability of plastics. The implementation of such legislations to improvise sustainability is expected to propel the demand for flexible packaging in the future. Other advantages of sustainable flexible packaging are as follows:
- CO2 emissions of flexible packaging are lower than that of rigid packaging by around 80%
- Flexible packaging reduces 60% of solid waste and 80% of fossil fuel consumption as compared to rigid packaging
Furthermore, manufacturers are focusing on product innovations to reduce oxygen migration, absorb food odor, preserve food longer, and have a high-end appearance coupled with the sustainability advantages granted by block bottom bags.
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Manufacturers of block bottom bags are currently using clear packaging styles. The goal of the strategy is to increase sales, and transparent packaging aids product visibility and consumer trust. The transparency of a package is frequently interpreted as a sign of the product’s quality. Clear packaging is becoming more popular, especially in the food business. This makes it particularly beneficial in the consumer products industry, since product differentiation is at the forefront of manufacturers’ minds. Bags, which provide greater transparency and gloss to the package, can be used to create transparent surfaces. As the majority of the surface is designed to give obvious packing, this saves money on printing, labelling, and the other packaging formats. A significant number of consumers make purchasing decisions at the point of sale, and packaging is likely to affect those decisions. As a result, the adoption of such packaging methods is projected to increase the market for block bottom bags.
The rapid expansion of end-use industries in Asian countries has opened up growth avenues for global manufacturers. Furthermore, the low cost of production in Asian countries has led manufacturers to expand their manufacturing facilities to countries in Asia Pacific regions. Moreover, the ever-growing retail, eCommerce, food & personal care sectors in Asia Pacific countries are promising substantial growth opportunities to block bottom bags manufacturers. Moreover, considering all these factors, manufacturers of block bottom bags operating in America and Europe can focus on Asia Pacific to penetrate further in the market. Furthermore, manufacturers operating in the Asia Pacific block bottom bags market are witnessing the consistent demand for bags that are made from white kraft and brown kraft paper, owing to their extensive range of applications.
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The global block bottom bags market is projected to witness strong competition among key players. This market includes few well-established market participants. Along with this, several other local and small-scale manufacturers are also entering the block bottom bags market attributing to significant revenue creation with the rising demand of block bottom bags. Some of the key players operating in the global block bottom bags market are Berry Global, Inc., Mondi Plc., International Paper Company, Novolex Holdings, Inc., WestRock Company, McNairn Packaging, Inc., Amcor Plc, Bag Makers, Inc, Welton Bibby And Baron Limited, JohnPac, LLC, El Dorado Packaging, Inc., Genpak Flexible, Ampac Holdings LLC, Interplast Group, Oji Holdings Corporation.
The tier structure is formulated on the basis of segmental revenue and market share of companies. As per tier structure, WestRock Company, Berry Global, Inc, International Paper Co, and Amcor PLC are the tier 1 players in the block bottom bags market. These leading companies are adopting key strategies such as business expansion, acquisitions, and products launch to strengthen their position in the block bottom bags market. Moreover, tier 2 players include Mondi Plc, Oji Holdings Corp, Welton Bibby And Baron Limited, and others.
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