Mondi Group (Austria) and CCL Industries Inc. are leading players in Multiwall Bags Market
The global multiwall bags market size is projected to grow from USD 12.1 billion in 2020 to USD 14.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 3.5% during the forecast year. The growth of this market is attributed to the increasing growth of the real estate industry in the developing countries as well as in the developed countries as they are widely used in cement packaging coupled with the government initiatives to ban plastic packaging has also led to strengthening the paper packaging market. Moreover, the regulatory bodies across the world have implemented environmental safety policies to eliminate single-use plastic usage. The increasing retail sector, such as supermarkets and hypermarkets, also propels the market growth.
The multiwall bags market has been dominated by large players, such as the Mondi Group (Austria), Berry Global Inc. (US), ProAmpac Holdings Inc. (US), Sonoco Products Company (US), and Hood Packaging Corporation (Canada). These players have adopted various growth strategies, such as expansions & investments, new product developments, partnerships, and acquisitions, to increase their market shares and enhance their product portfolios.
Acquisitions accounted for the largest share of all the strategic developments that took place in the multiwall bags market between 2016 and 2020. Key players such as Mondi Group (Austria), Sonoco Products Company (US), and Hood Packaging Corporation (Canada) adopted these strategies to strengthen their business portfolios and presence in the multiwall bags market.
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Mondi Group is a leading global packaging and paper group employing around 26,000 people across more than 30 countries. The company is contributing to a better world by making innovative solutions using paper where possible, plastic when useful. Mondi sources wood from either its sustainably managed forests or purchases it externally from responsible sources. The wood is then used in the company’s mills to produce pulp, which, along with paper for recycling and other raw materials, is converted into containerboard, Kraft paper, and uncoated fine paper. It produces pulp, paper, and plastic films to develop and manufacture effective industrial and consumer packaging solutions. The company has a strong foothold in the Western Europe and has its presence worldwide.
CCL Industries Inc. is one of the leading label manufacturers. It operates through four business segments, namely, consumer packaging North America; consumer packaging international; health, hygiene and specialties; and engineered materials. The company has a strong foothold and customer base in US. The company has more than 130 offices in the US, China, Mexico, Canada, France, India, Brazil, the Netherlands, Germany, the UK, Australia, Malaysia, Argentina, Colombia, Italy, Belgium, and Spain. The company has 123 manufacturing facilities in North America; 149 in Europe, Middle East, India, and Africa; seven in South America; and 24 in APAC.
Related Reports:
Multiwall Bags Market by Product Type (Paper Bags and Plastic Bags), Layer (2-Ply, 3-PLy, and Others), Application (Food & Grains, Agriculture, Building & Construction, Chemicals, Retail, Pharmaceuticals, and Others), and Region - Global Forecast to 2025
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