iCrowdNewswire Mar 8, 2021 4:00 PM ET
According to the recent report by IMARC Group, the global jute bag market size reached a value of US$ 2.07 Billion in 2020. Looking forward, the market expects to exhibit moderate growth during the next five years.
Jute is a long, soft, bast fiber obtained from the bark of two kinds of plants, namely, white and Tossa jute. Also known as the golden fiber due to its golden and silky appearance, jute is the second-most important vegetable fiber after cotton. It is spun into coarse, strong threads that are utilized to produce ropes, bags, fabrics, and carpets. Jute is non-toxic, cost-effective, recyclable, reusable, and biodegradable in nature as it leaves no residue after degradation. As a result, it is widely used in packaging and manufacturing fabrics across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Jute Bag Market Trends:
Jute offers excellent properties like low thermal conductivity and good insulation, which makes it an ideal packaging material. As a result, bulk goods are often packed in jute bags to transfer from one destination to another. Apart from this, the ban on single-use plastic by several governments has stimulated the demand for jute and related products. Growing environmental awareness among the masses has also created an inclination toward natural and biodegradable products, like jute bags, over plastic bags. This, along with many government initiatives, is bolstering the jute industry. For instance, the Government of India has mandated the packaging of food grain and sugar in jute bags. Furthermore, several manufacturers are introducing an array of jute-based products like wallets, handbags, tablemats, folders, room dividers, jewelry, and sandals, which is creating a positive outlook for the market.
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- On the basis of the type, the market has been bifurcated into sack bags and shopping bags. Among these, sack bags are the most popular type, accounting for the majority of the total market share.
- Based on the end use, the market has been segregated into the retail and institutional channels. Currently, the retail channels exhibit a clear dominance in the market.
- On the basis of the price, the market has been categorized into the premium and mass segments. At present, premium jute bags hold the largest market share.
- Region-wise, India is the leading market for jute bags across the globe. Other regions include China and Bangladesh.
- The competitive landscape of the market has been analyzed in the report, with some of the key players being Ashoka Exports, Shree Jee International Indian Ltd., Gloster Limited, Hitaishi-KK, Howrah Mills Co. Ltd., and Aarbur.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/prefeasibility-report-jute-bag-manufacturing-plant
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