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2024 U.S. Industry Statistics & Market Forecast - Plastics Bag and Pouch Manufacturing
Market Size & Industry Statistics
The total U.S. industry market size for Plastics Bag and Pouch Manufacturing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Plastics Bag & Pouch Manufacturing industry has a significant impact on various sectors, including food and beverage, consumer goods, and medical supplies. Several key trends are currently influencing the industry and changing the way companies operate. Firstly, there is a growing demand for sustainable packaging options. Consumers are becoming more environmentally conscious and seeking products with minimal environmental impact. As a result, manufacturers are developing eco-friendly alternatives such as biodegradable and compostable bags and pouches.Secondly, automation and digitalization are rapidly transforming the industry. As companies seek to enhance productivity and efficiency while reducing costs, they are investing in modern technology such as 3D printing, robotics, and artificial intelligence. These advancements allow for customization and improved quality control, enabling manufacturers to deliver superior products to their customers.
Another trend is the increasing focus on packaging aesthetics and functionality. With the rise of e-commerce and the need for eye-catching packaging to stand out on crowded shelves, manufacturers are developing innovative designs with functional features such as resealable closures, easy-open packaging, and tamper-evident seals.
Lastly, the COVID-19 pandemic has also affected the industry, with an increased demand for medical supplies and sanitation products. Manufacturers have had to adapt and pivot their production lines to meet these needs while ensuring strict health and safety protocols are in place to protect workers.
Overall, the Plastics Bag & Pouch Manufacturing industry is continually evolving to meet changing consumer demands and adapt to new technology, sustainability standards, and health and safety regulations.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Plastics Bag and Pouch Manufacturing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Plastics Bag and Pouch Manufacturing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Plastics Bag and Pouch Manufacturing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 5% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 2% | |||
| Office and Administrative Support Occupations | 7% | |||
| Installation, Maintenance, and Repair Occupations | 6% | |||
| Other Installation, Maintenance, and Repair Occupations | 5% | |||
| Production Occupations | 59% | |||
| Assemblers and Fabricators | 11% | |||
| Miscellaneous Assemblers and Fabricators | 10% | |||
| Metal Workers and Plastic Workers | 27% | |||
| Forming Machine Setters, Operators, and Tenders, Metal and Plastic | 6% | |||
| Extruding and Drawing Machine Setters, Operators, and Tenders, Metal and Plastic | 5% | |||
| Molders and Molding Machine Setters, Operators, and Tenders, Metal and Plastic | 14% | |||
| Molding, Coremaking, and Casting Machine Setters, Operators, and Tenders, Metal and Plastic | 14% | |||
| Other Production Occupations | 14% | |||
| Inspectors, Testers, Sorters, Samplers, and Weighers | 5% | |||
| Inspectors, Testers, Sorters, Samplers, and Weighers | 5% | |||
| Transportation and Material Moving Occupations | 11% | |||
| Material Moving Workers | 10% | |||
| Laborers and Material Movers | 9% | |||
Plastics Bag and Pouch Manufacturing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Plastics Bag and Pouch Manufacturing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Plastics Bag and Pouch Manufacturing industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Plastics Bag and Pouch Manufacturing industry. |
Source:
Innovation News
- Sep 12, 2023: Uremet trademarks "YOU OWN THE RIDE" - Bracelets and key chains
- Jul 28, 2023: NPC Global trademarks "BOX DEPOT" - On-line wholesale and retail store services featuring packaging machines, packaging products and supplies
- Jul 28, 2023: NPC Global trademarks "NPC GLOBAL" - Contract manufacturing in the field of shipping and packaging; Manufacture of general product lines in the field of shipping and packaging to the order and specification of others
- Sep 01, 2016: Blast Bag patents Blasting Fluid Effluent Containment Device
- Sep 24, 2015: Sierra Packaging & Converting patents Single-serving Food Packaging With Steam Vents
- Sep 24, 2015: Sierra Packaging & Converting patents Single-serving Food Packaging With Steam Vents
Recent Federal Contracts for Plastics Bag and Pouch Manufacturing- Apr 02, 2024: ACCUSPEC PACKAGING CORPORATION (Dundee, NY) awarded $3,055
- Apr 02, 2024: CAPP, INC. (Clifton Heights, PA) awarded $1,319
- Mar 29, 2024: STAR POLY BAG, INC. (Brooklyn, NY) awarded $1,222
- Mar 29, 2024: NYP CORP. (Elizabeth, NJ) awarded $8,478
- Mar 29, 2024: F.P. WOLL & COMPANY (Philadelphia, PA) awarded $15,379
- Mar 29, 2024: M-PAK, INC. (Aledo, TX) awarded $3,760
- Apr 02, 2024: ACCUSPEC PACKAGING CORPORATION (Dundee, NY) awarded $3,055
- Apr 02, 2024: CAPP, INC. (Clifton Heights, PA) awarded $1,319
- Mar 29, 2024: STAR POLY BAG, INC. (Brooklyn, NY) awarded $1,222
- Mar 29, 2024: NYP CORP. (Elizabeth, NJ) awarded $8,478
- Mar 29, 2024: F.P. WOLL & COMPANY (Philadelphia, PA) awarded $15,379
- Mar 29, 2024: M-PAK, INC. (Aledo, TX) awarded $3,760
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