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Shopping bags are immensely useful for people in their daily shopping activities. Increasing income of the global population and standards of livings have provided an edge in the demand for these products. Companies are constantly focusing on developing high-quality bags to give a luxury shopping experience to the people. The introduction of bio-degradable bags has immensely helped the companies to cater to the growing trend of environmentally sustainable products. Also, companies widely use recyclable ingredients in the design of the bags to reduce the CO2 footprint.
Moreover, manufacturers are emphasizing on developing different colored and fashionable bags to attract consumers to purchase these products. Nowadays, companies are promoting their products through their innovative marketing and promotional campaigns. Companies are targeting the commercial segment to develop custom bags for their corporate clients. For instance, the Prahu Naidu Company is focusing on designing bags in a variety of shapes and sizes for D-Mart stores across India.
Rising global demand for household & personal care related products along with the introduction of newer FMCG brands is projected to drive the demand for the shopping bags. Rising trends of physical & online shopping activities have flourished the consumption of these products. Additionally, shifting consumer preferences towards luxury, and premium grocery products, fuel the demand for the variety of shopping bags.
Growing infrastructural facilities related to the shopping malls and convenience stores provide ease in the shopping activities by the people and thereby foster the demand for these easy to carry handbags. These products are commonly given by shopping stores to wrap up the grocery products and to deliver them to the customer. However, the large availability of low-cost grocery bags is anticipated to restrain the demand for luxury shopping bags and thereby, limit the growth of the market. Additionally, a sudden disruption in the international supply chain network due to the COVID-19 outbreak is expected to hinder the growth of the market.
Key Market Driver -
Rising consumer demand for personal care & household products is expected to drive the market growth.
Key Market Restraint -
Wide availability of low-cost alternatives is anticipated to hamper demand for luxury shopping bags
The key companies operating in the global shopping bag market are, Earthwise Bags Company Inc., Mato & Hash, PLANET.E, Creative Green Life, Beegreen, Simply + Green Solutions Inc., yookeehome, Envirosax, Houseables. ASF TASHI LLC., Ecosac Co., and others.
The global shopping bag market is segmented by product type, material, distribution channel, and geography.
By product type, the market is segmented into reusable bags and non-reusable bags. Reusable shopping bags segment is projected to dominate the market due to their extended usage. Also, consumers more likely prefer to buy these types of shopping bags because of their reusability and wide availability of the varied colored and sized bags. However, the non-reusable bags segment is expected to grow in the near future owing to developments in designs such as the use of easily disposable & eco-friendly materials which help in reducing the environmental burden.
By Material, the market is segmented into paper, cotton, plastic, jute & hemp, and others. Jute & hemp bag segment is expected to hold a major share of the market as jute & hemp materials provide higher strength and weight holding capacity to the bag. Moreover, jute and hemp materials are widely used by luxury shopping brands to provide high-quality handbags.
By the distribution channel, the market is segmented into hypermarkets & supermarkets, convenience stores, online stores, and others. The convenience stores segment is expected to dominate the market because of the widely spread convenience stores as well as their easy accessibility to the consumers. However, the other segment is expected to witness rapid growth in the near future as they give an efficient shopping experience to the customers.
By geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America region is expected to hold the largest share of the market owing to the higher spending for the luxury shopping goods coupled with the presence of higher income groups in the countries such as the Canada, and United States which further likely to fuel demand for the shopping bags for carrying grocery items. According to the Bureau of Economic Analysis, US Department of Commerce, in the United States, the state’s personal consumption expenditure has increased by 5.1% in 2018 over to that of 4.4% in 2017. Additionally, rising demand for the food & beverage products in the region is likely to fuel the demand for the shopping bags for carrying various food & beverage items. According to the US Department of Agriculture Foreign Agriculture Service, Canada’s food and alcoholic beverage sales have reached USD 96 billion in 2018, with a 3% rise to that of 2017. Moreover, the wide presence of prominent players such as Earthwise Bags Company Inc., Borse Handbranding, and many others, drive revenues from the region.
Asia Pacific region is expected to grow at a faster rate for the shopping bag market owing to the large demand for biodegradable and HDPE shopping bags in countries such as India, and Australia. According to the Australian National University, Government of Australia, in 2017, demand for single-use plastic bags has increased to 41,797 tonnes which is equivalent to 1.5 billion boutique bags. Moreover, increasing usage of single-use plastic bags, as well as environmental sustainability concerns in India, has given exponential rise to the demand for biodegradable shopping bags in the country. Growing retail shopping trends for consumer goods in countries such as China and India is expected to flourish the consumption of shopping bags. According to the Fung Scholars Organisation, in China, total retail sales of consumer goods jumped by 9.3% year-on-year to USD 3,928.62 billion in the third quarter of 2018.
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