Sack And Bag Market

The global market for sacks and bags is projected to see continued growth in both volume and value over the next eight years, with consumption and production on the rise. Market performance is expected to expand with a forecasted CAGR of +3.7% for volume and +6.5% for value from 2022 to 2030. After a slight decrease in consumption in 2022, the market is expected to reach 6.9M tons in volume and $101.3B in value by 2030. The top consuming and producing countries include China, Brazil, and the United States, while the largest exporters are China and India. Prices for imports and exports are also on the rise, with fluctuations in average prices across different countries.

Market Forecast

Driven by increasing demand for sacks and bags worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.7% for the period from 2022 to 2030, which is projected to bring the market volume to 6.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +6.5% for the period from 2022 to 2030, which is projected to bring the market value to $101.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Sacks And Bags

After two years of growth, consumption of sacks and bags decreased by -3.6% to 5.2M tons in 2022. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +71.1% against 2012 indices. Over the period under review, global consumption reached the maximum volume at 5.4M tons in 2021, and then contracted modestly in the following year.

The global sack and bag market size declined to $61.4B in 2022, shrinking by -7.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +80.1% against 2014 indices. Global consumption peaked at $66.2B in 2021, and then fell in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Brazil (940K tons), China (676K tons) and the United States (374K tons), with a combined 39% share of global consumption. Turkey, India, Pakistan, Japan, Indonesia, Russia, South Korea, Nigeria, Iran and France lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Iran (with a CAGR of +11.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($48.3B) led the market, alone. The second position in the ranking was taken by Turkey ($3.8B). It was followed by the United States.

In China, the sack and bag market increased at an average annual rate of +5.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+10.7% per year) and the United States (+3.6% per year).

The countries with the highest levels of sack and bag per capita consumption in 2022 were Brazil (4.4 kg per person), South Korea (2.6 kg per person) and Turkey (2.5 kg per person).

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +10.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Sacks And Bags

In 2022, production of sacks and bags decreased by -4.4% to 5.2M tons for the first time since 2019, thus ending a two-year rising trend. In general, the total production indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +71.1% against 2012 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 16% against the previous year. Over the period under review, global production hit record highs at 5.5M tons in 2021, and then contracted modestly in the following year.

In value terms, sack and bag production contracted to $105.7B in 2022 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.6% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 91% against the previous year. Over the period under review, global production hit record highs at $116.6B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (1.2M tons), Brazil (941K tons) and India (644K tons), with a combined 54% share of global production. Turkey, Pakistan, Vietnam, the United States, Indonesia, Bangladesh, Iran, Russia and Nigeria lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +11.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Sacks And Bags

Global sack and bag imports stood at 2.1M tons in 2022, leveling off at the year before. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 10% against the previous year. Over the period under review, global imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, sack and bag imports stood at $6.3B in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 24% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports By Country

The United States (238K tons), Japan (160K tons) and South Korea (142K tons) represented roughly 26% of total imports in 2022. It was followed by Germany (94K tons), making up a 4.5% share of total imports. France (91K tons), the Netherlands (79K tons), Spain (61K tons), Russia (61K tons), Belgium (51K tons), Kazakhstan (50K tons), the UK (49K tons), Italy (43K tons) and Ghana (41K tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ghana (with a CAGR of +9.2%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($821M), Japan ($471M) and Germany ($358M) appeared to be the countries with the highest levels of imports in 2022, with a combined 26% share of global imports. South Korea, France, the Netherlands, Spain, the UK, Italy, Belgium, Russia, Ghana and Kazakhstan lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, Ghana, with a CAGR of +11.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average sack and bag import price stood at $3,014 per ton in 2022, surging by 2.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2021 an increase of 12%. Global import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($3,833 per ton), while Kazakhstan ($1,417 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+2.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Sacks And Bags

In 2022, approx. 2.1M tons of sacks and bags were exported worldwide; approximately reflecting the year before. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 14%. As a result, the exports attained the peak of 2.2M tons, leveling off in the following year.

In value terms, sack and bag exports expanded modestly to $6.7B in 2022. The total export value increased at an average annual rate of +3.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 25%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China (574K tons) and India (463K tons) were the largest exporters of sacks and bags in 2022, accounting for near 27% and 22% of total exports, respectively. It was distantly followed by Vietnam (232K tons) and Turkey (103K tons), together comprising a 16% share of total exports. Bangladesh (72K tons), Pakistan (44K tons), the Netherlands (41K tons), Thailand (39K tons), Belgium (37K tons) and Spain (35K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Spain (with a CAGR of +19.0%), while the other global leaders experienced more modest paces of growth.

In value terms, China ($1.9B), India ($1.2B) and Vietnam ($630M) appeared to be the countries with the highest levels of exports in 2022, together comprising 55% of global exports.

In terms of the main exporting countries, Vietnam, with a CAGR of +12.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average sack and bag export price stood at $3,120 per ton in 2022, increasing by 2.4% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 9.4% against the previous year. The global export price peaked at $3,131 per ton in 2014; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($3,798 per ton), while Spain ($1,302 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform