Jute is a natural fibre obtained from the bark of the white jute plant or the tossa jute plant. It is also known as the golden fibre owing to its golden and silky shine, and is extensively used in the manufacturing of packaging products and textiles. As a packaging material, jute offers advantages such as good insulation, low thermal conductivity and moderate moisture retention. On account of this, jute bags are used as packaging material for bulk goods as well as shopping and gift bags. IMARC Group’s latest report, titled “Jute Bag Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the global jute bag market reached a value of US$ 1.7 Billion in 2018, exhibiting a CAGR of around 11.5% during 2011-2018.
The global jute bag industry is currently at a nascent stage with encouraging growth aspects. The demand for jute bags has witnessed a surge over the past few years, particularly in the European Union. This can be attributed to the growing environment consciousness in the region. The imports of jute bags in non-producing countries have also been facilitated by the ban on plastic packaging materials and bags. Additionally, the benefits offered by jute bags such as their biodegradability, durability, low cost, high strength, etc. have further supported the market growth. According to the report, the market is projected to reach a value of US$ 3.1 Billion by 2024.
The report has analysed the global jute market on the basis of type, covering jute sack bags and jute shopping bags. Currently, jute sack bags dominate the market, accounting for the majority of the sales volume. The market has further been segmented on a regional basis and includes India, Bangladesh, China and Others. Amongst these, India holds the majority of the shares, representing the leading producer of jute bags. The report has also assessed the competitive landscape of the market and finds that it is fragmented in nature. Some of the key players operative in the market include Aarbur, Ashoka Exports, Hitaishi-KK, Howrah Mills Co. Ltd., Shree Jee International India Ltd. and Gloster Limited.
This report provides a deep insight into the global jute bag industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a jute bag manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the jute bag industry in any manner.
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