Rapidly increasing retail sectors in the developed regions has been contributing significantly towards expansion of paper bags market across the globe. Apart from this, rising innovative techniques with regards to product designs, increasing penetration of retail sectors in the developing markets, strong consumer support rejuvenating retail sales and most of all, and rise in PPP projects for the purpose of construction are some other major factors driving the growth of paper bags market across the globe.
A thorough analysis on a holistic basis was taken up by a research company, which later revealed beneficial figures and facts with regards to paper bags market. The global report displays that paper bags market is estimated to grow at 4.4% CAGR during the assessment period, 2017-2027. Besides, analysts found out that paper bags market is expected to reach an estimate of closely US$ 7Bn by the end of 2027.
Key players prevailing in the paper bags market across the globe are inclusive of Novolex Holdings, Inc, York Paper Company Limited, Genpak Flexible, Smurfit Kappa Group, El Dorado Packaging, Inc, Ronpak and International Paper Company. Key players and manufacturers are increasing their focus towards developing strategies for innovating as well as launching new products, which in turn would help them in business expansion as well as rapid increase in customer-base across the globe.
Novolex Holdings Acquires the Waddington Group
Key players together with manufacturers can take note of the point that Novolex Holdings is planning to acquire the Waddington Group by Newell Brands, Inc. This move by Novolex Holdings is towards strategic growth as well as development, which is inclusive of adding wide-ranging sustainable packaging products and hard plastic food packaging. Acquisition of Waddington Group is supremely beneficial for Novolex Holdings as this acquires company helps in developing world-class products innovation as well as helps in long-term customer relations. Apart from this, strong partnership between The Carlyle Group and Novolex Holdings is likely to create significant growth opportunities for paper bags market in the near future.
Smurfit Kappa Group Rejects Takeover Offer of International Paper Company
Key players together with manufacturers can take note of the point that Smurfit Kappa Group has recently rejected the takeover offer from International Paper Company, which would have helped the company in packaging business expansion as well as increase in customer-base. Apart from all this, there was a recent information stating that Smurfit Kappa Group has been witnessing significant hike in its shares, which is considered as its biggest gain within a decade. Heavy investments being made in this company is likely to be supremely beneficial for elevating global position in the paper bags market.
Considering the rapid increase in demand for innovative packaging techniques, Smurfit Kappa Group has been taking immense efforts to make heavy investments in R&D, which again is due to rapid increase in internet shopping across the globe. The booming packaging business is likely to witness rapid expansion with the penetration of advanced and innovative product developments by Smurfit Kappa Group as well as International Paper Company in the near future.
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