Twisted Handle Bags – Market Outlook
Twisted handle bags are made of kraft paper, which can be brown kraft or white kraft. The twisted handle attached with the bag diffrentiates these bags from rest of the paper bags. Twisted handle is attached by using glue. Twisted handle bags are widely used in retail sector for shopping and promotional activities. These bags are also used by consumers to carry meals and carry food parcels from restaurents. Meals-to-go bag, restaurant carryout bags, shopping bags and wine and spirit bags are the major types of twisted handle bags used in the market. Meals-to-go bags are used to carry ready meals by consumers, where meals can be consumed on-the-go. Changing consumer lifestyle in emerging economies is pushing the demand for these bags. Growing number of restaurent chains and food service outlets is driving the demand for restaurent carryout bags, which are very convinient to carry the food and consume on-the-go.
Twisted handle bags market has many major manufacturers, which are constantly striving to launch innovative and efficient twisted handle bags for end use industries such as food & beverages and retail. Shopping bags are the fastest growing and dominating bags among all the twisted handle bag types by application. According a report published by Deloitte, global retail sales of packaged foods is going to reach approximately US$ 3.0 trillion, by 2020. The major driver for the growth in packaged food retail sales is growth in emerging markets.
The U.S. is maintatining is steady economic growth, which is around 2.5% – 2.9%, between 2017 – 2018. Rising income levels, low inflation rates and declining unemployement rates is helping the U.S. economy to maintain the steady growth. On the other hand emerging markets are the bulls of world economy, retail majors like Nestle, P&G, Pepsico, Uniliver, Loreal are very bullish on emerging economies FMCG growth. With this background, twisted handle bags which are majorely used by retail industry is anticipated to expand at a lucrative CAGR over forecast period. Paper bags market is highly correlated with the twisted handle bags market. The below figure provides the overview of global paper bags market, by geographical region and end-use industry.
The main drivers influencing the demand for twisted handle bags are strong retail sector outlook in developed regions, increasing preference for paper bags as replacement for plastic counterparts and growing penetration of retail outlets in emerging economies. The major trends driving the market include rapid penetration of ecommerce leading to high demand for alternative corrugated packaging solutions, and rising demand for environmental friendly packaging products.
Global Twisted Handle Bags market: Key Players
Some of the key players operating in the global twisted handle bags market are – The Mondi Group plc., Smurfit Kappa Group, International Paper Company, Novolex Holdings, Inc., Ronpak, Welton Bibby and Baron Limited, JohnPac Inc., El Dorado Packaging, Inc., Langston Companies, Inc., United Bags, Inc., Genpak Flexible, Paperbags Limited, Global-Pak, Inc., York Paper Company Limited, FORM BAGS S.p.A., IntaBag Limited, JinDian Packaging, May Sun Jieh Enterprise Co., Ltd., PapeR FactorY (Bangalore, India), Qingdao SunnyMay Packaging &.Trading Co.,Ltd., American Paper Bag (U.S.) and others.
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