Retail sector acquired the largest market revenue share among all the applications in the UAE paper bags market – 6Wresearch
The UAE paper bags market saw a slight decline in revenues in 2020 because of lockdowns and restrictions imposed to curtail the spread of COVID-19, which caused nationwide disruptions in the supply chain and halted trading activities. However, the paper bags market had returned to its trajectory with a healthy growth rate in 2021 as the covid restrictions were lifted and consumer spending in the retail sector had increased. The UAE paper bags market is expected to grow at a rapid growth rate in the coming years owing to an increasing number of tourists, the number of Food & beverage outlets, and rising consumer spending in the country's retail sector. Additionally, the Environment Agency of Abu Dhabi has implemented a ban on single-use plastic bags, and tariffs by Dubai Municipality on plastic bags along with UAE government initiatives to reduce plastic use would also fuel the paper bags market growth in the forthcoming period.
According to 6Wresearch, UAE Paper Bags Market size is projected to grow at a CAGR of 11.8% during 2022-2028. Dubai region acquired the highest revenue share and is expected to witness the maximum growth in the future on account of numerous shopping complexes, retail stores and the highest number of food and beverages outlets in the country. Additionally, the Government of UAE's sustainability initiatives including the UAE Green Agenda and UAE Energy strategy, which aims to provide 50% clean energy and a 70% reduction in carbon footprint would increase the demand for environment-friendly products such as paper and jute bags in the UAE Market.
According to Shubham, Research Analyst, 6Wresearch, by types, Open mouth bags is anticipated to witness rapid growth among all the types on account of their usage in various verticals such as retail, food & beverage, pharmaceutical, and construction industries.
“Additionally, Pasted Valve paper bags would continue to be the second-highest revenue-generating segment on account of increasing industrial activities in the country as they tend to be of higher quality and bigger in size”, Shubham further added.
According to Suryakant, Research Associate, 6Wresearch, the retail sector would be the major revenue-generating application over the coming years driven by rise in consumer spending in the country's retail sector.
"Furthermore, in terms of revenue, the Food & Beverages sector held the second-largest revenue share in the UAE paper bag market in 2021, and the same trend is anticipated to continue in the upcoming years owing to the Dubai Government's consideration of the food and beverage industry as one of the targeted sectors in its Dubai Industrial Strategy 2030. Several factors play a role in enabling the rapid growth, including an increasing number of ex-pats settling into the region, high disposable earnings, a growing influx of tourists, and urban lifestyles," Suryakant further added.
UAE Paper Bags Market (2022-2028) provides an in-depth analysis with 21 figures and 3 tables covered in 66 pages. The report estimates and forecasts the overall UAE Paper Bags market by types, applications, and regions. The report provides an unbiased and detailed analysis of the UAE Paper Bags market on-going trends, outlook, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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