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Category Alerts


Dow collaborates with Lion Corporation to introduce recyclable Polybags.

March 28, 2023
alert level: Medium

Elite Plastics, has installed a new three layer film extrusion line in UK.

April 20, 2023
alert level: Medium

Constantia Acquires Laszlopack

April 13, 2023
alert level: Medium

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Polybags Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Polybags category is 1.50%

Payment Terms

(in days)

The industry average payment terms in Polybags category for the current quarter is 60.0 days

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    Polybags market report transcript

    Polybags Global Market Outlook:

    • The global polybag market is valued at $12.1 billion in 2023. The market is expected to grow at a moderate CAGR of 4-4.5 percent and reach $14 billion by 2027

    • 2023 is anticipated to be a promising year for Polybags market growth from increasing Polybag demand from non essential end use segments

    • Growing consumer preference for economical and convenient packaging drives polybag market for next 3 years

    Polybags Demand Market Outlook

    • Sustainable material and innovative product features are the prime factors, which brand owners look for in engaging with suppliers

    • The pandemic situation has increased the operating cost of suppliers, which led most of them to focus on cost cutting than on product innovations. Suppliers are anticipated to resume their innovations spend in 2023

    Global Market Size: Polybag

    • Global polybag market is growing at a CAGR of 4-4.5 percent, and it is expected to reach $14.4 billion by 2027F. The market has almost recovered from its fall from COVID 19 impact

    • Food, beverages, pharmaceutical, and cosmetic industries support the growth for polybag as opposed to traditional packaging formats, like containers, jars, cans, bottles, etc. Asia is the largest regional market in terms of volume, accounting to ~40 percent of the demand during 2023, followed by Western Europe and North America

    • Mature markets eye for more “greener” or sustainable alternatives in packaging have less end-of-life impact on the environment; whereas developing countries focus of cost-effective packaging formats

    Porter's Analysis on Polybags - Developed Regions

    Supplier Power

    • Consolidated resin supply base led by Exxon Mobil, Dow, and Nova Chemicals, etc., cater to various converters, thereby increasing their power in value chain

    • Use of shale gas has reduced imports from Middle-East, moving the industry towards self-sufficiency in this region. This has further increased the power of suppliers

    Barriers to New Entrants

    • Capital investments are high depending on the value adds, which increases the barrier to new entrants

    • Most suppliers are backward integrated into film extrusion. Knowledge about technology is freely available, which eases the barriers to new entrants

    • Based on the end-use industry, converters have to have relevant certification and clean-room facilities increasing complexities for the converter

    Threat of Substitutes:

    • Competition is primarily among flexible plastics, paper, and foil, as opposed to rigid packaging

    • Rigid packaging formats such as bottles and containers are still being used in pharmaceuticals, which are gradually being replaced by flexible alternatives, such as blisters and pouches in the near future

    Intensity of Rivalry

    • The supply base is highly fragmented with converters offering products with less differentiation

    • Converters cater to various industries, which drive innovation-based competition

    • Production capacity and product customization provide an edge over competition

    Buyer Power

    • Buyers enjoy better negotiating power over suppliers in term of voluminous demand

    • Their power is moderated, as most buyers are not backward integrated to packaging

    • Buyers who prefer end-to-end services from integrated suppliers have less bargaining power

    Cost Structure Analysis: Polybags

    • APAC is dominated by supply from China, as it exports the raw material to other neighboring APAC countries. The prices depend mostly on China’s output

    • Fluctuating crude oil price, increasing labor cost, increasing energy cost, and rising logistics cost are the major reasons for changing polybag price across the region. Sanctions against Russian trade also impact the polybag value chain

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