Multiwall Paper Bags Market: By Product (Sewn Open Mouth, Pasted Open Mouth Bags, Pasted Valve Bags, Pinch Bottom bags, Self Opening Satchel), By Application (Building Materials, Food, Pet Food Industry, Agricultural Industry, Chemicals, Minerals and Others), and Geography  

Multiwall Paper Bags Market size was valued at USD 12.5 billion in 2022 and is expected to reach USD 15.9 billion by 2029, at a CAGR of 3.5% from 2023 to 2029. owing to its increasing durability, eco-friendly, and which is cost-effective for packaging for various products. Moreover, these are 100% recyclable, biodegradable, and reusable and can withstand more pressure when compared to plastic bags. Furthermore, paper bags are customizable, high-tear resistant, easy to store, and present less of a suffocation risk to young children or animals. All these factors drive the growth of the market and are anticipated to drive the growth of the market over the forecast period. The report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities, and possible challenges to the key stakeholders operating in the market. In addition, the global market report includes human demographics; regulatory scenario, and competition analysis with a vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed the global market to better equip clients with possible investment opportunities across the regions (regional Investment hot spots) and market unmet needs (Product Opportunities). In 2020-2021, the worldwide multiwall bag market is likely to see a moderate slowdown in growth. The COVID-19 pandemic has wreaked havoc on the economy and slowed down production. During the first and second quarters of 2020, trade, travel, retail, and manufacturing operations were disrupted, and the production of packaging materials and the supply chain came to a halt. Several countries, on the other hand, have lifted trade restrictions, which is projected to boost market growth. The long-term impact of this situation could be unparalleled, limiting the market for multiwall sacks' growth.

Multiwall Paper Bags Market Key Developments:

• In June 2020, Mondi Group announced that it had upgraded the paper bags facility in Hungary, the company has made a Euro 7 million investment in a state-of-the-art paper sack converting machine at the Mondis plant in Nyiregyhaza, Hungary, which will increase the plant quality, efficiency and service standards to produce high-end and sophisticated paper sacks for food purposes.