Global Bag Closures Market - 2021-2028
発行: DataM Intelligence
ページ情報: 英文 180 Pages
Bag Closures Market Overview
The global packaging market is distinguished by product innovation that promotes ease and comfort in dispensing, usage and disposal of consumer goods. Moreover, bag closures and seals are packaging solutions made of more inexpensive materials with simple yet practical designs for reclosing or sealing flexible bags and are broadly used for food applications for sealing products such as baked foods & confectionery, powdered tea & coffee, etc. In addition, manufacturers of bag closures and seals supply commodities with the additional functionality of serving as a label or a tag to display product & manufacturers' information.0
Moreover, the demand for a product is subjected to its visibility among the target customer group. A product such as a bag closure was out of retail customer reach, and only with the penetration of organized retail, niche and unique products such as bag closures came to the fore. This shift has been recognized for a large variety of products, including bag closures. An underlying factor is that e-Commerce platforms have emerged from purchase points to shopping platforms. The customer continues to explore and experiment with new products; resultantly, products like bag closure gets into mainstream customer markets.
The global bag closures market is estimated to reach US$ XX million by 2028 from the recorded market size of worth US$ XX million in 2020, growing at a CAGR of XX% during the forecast period (2021-2028).
Bag Closures Market Dynamics
The increasing inclination of consumers towards reusable packaged food is triggering the demand for Bag Closures in recent times. Growing demand for bakery and confessionary product creates a strong opportunity for the Bag Closures market growth.
Increasing demand reusable packaged food product is expected to increase the market size
Sales of bag closures are intimately associated with the demand for reusable packaged food products, among which bakery and confectionery items top the list. Flexible packaging for bread processing is the leading bread clip user, which indeed runs into millions daily. Thus, the demand for these clips is expected to remain steady as sales of bakery products continue to reflect above-average consumption patterns. The trend is anticipated to continue in the second half of 2020. In addition to bread, the increasing number of cafes and bakery chains across the globe have also spiked the demand for clips and twist ties required for the effective closure of coffee, tea, and other products. According to industry analysis, in 2020, rolls and fresh bread were the leading bakery products in the U.S, generating approx. US$ 13.94 billion in sales. Cookies came in second place, with around US$ 9.27 billion value of sales in 2020. Grupo Bimbo was the foremost vendor of fresh bread in the country in 2019. That year, 324.89 million Americans consumed bread nationwide.
Introduction of wide range of bakery products is expected to increase the market size
Introducing a wide range of bakery products such as gluten-free and sugar-free for diet and health-conscious consumers has also raised the demand for bag closures. Thus, the growing consumer base for baked and confectionery goods is expected to contribute to the sale of bag closures during the forecast period. In addition, several government and non-government organizations are pushing to reduce plastic usage in packaging, which sensitized the packaging and the plastic industry.
However, it has raised a significant demand for twist ties and paperboard usage for manufacturing reclosures on a positive note. Additionally, efforts to reduce single-use plastic are also expected to propel twist ties far more environment-friendly than plastic clips. According to industry analysis, the revenue for the confectionery & snacks division amounts to US$ 1,399,814.9 million in 2021 and is expected to grow at a CAGR of 2.43% during the forecast period. In addition, most revenue is generated in the U.S and is expected to value US$ 295,928.89 million in 2021.
Growing utilization of bag closures in food industry is expected to boost the market growth
The bag closure market is rising in demand due to the rise in bag closure in the food industry. Also, the high demand for easy-to-apply and enclosable bag closures is anticipated to flourish the demand of the bag closure market owing to the reasons mentioned above and is expected to grow substantially during the forecast period. In addition, the rapid change in lifestyle and rapid technological advancement and development is also expected to push the growth of the bag closure market during the forecast period.
Increasing awareness of environmental impact and easy availability of sturdy substitutes is expected to hinder the market growth
However, the easy availability of sturdy substitutes and rise in environmental concern among the population is expected to impede the growth of the bag closure market during the forecast period. In contrast, the high R&D investment can challenge the growth of the bag closure market. As the awareness of environmental concern is increasing among general population through the various programs on global warming, the thought process of the population is shifting towards necessity over luxury and also this can cause challenges to the market as more people are refraining from multiple purchases and using same products for longer time.
Bag Closures Market Segment Analysis
By material type, the market is segmented into plastic, paper & paperboard, polyvinyl chloride (PVC), PET, polypropylene, polystyrene, polyethylene, metal and others.
The increasing public outcry against the plastic debris in landfills has seriously pressurized packaging companies to consider their solutions. This has percolated down to basic break loaf clips, security ties, and twist ties. Against this backdrop, the demand is slowly shifting to twist ties that sandwich a metal wire between paper. This malleability and facility with which it can shape or wound around the product have won it significant momentum. Today, several confectioners use these environment-friendly twist ties to pack chocolates, bread, cookies, and other items. In addition, growing investments in developing sustainable packaging solutions are projected to make manufacturers shift their focus from plastic use to a more biodegradable material.
Furthermore, paperboard is expected a revolutionary material, creating a wave of change in the global bag closure market. Its powerful construct and biodegradability are expected to make it a preferred choice in replacing plastic in clip production. In addition, the evolution of paper fasteners has played a significant role in reimaging the clips used for adequate closure. According to industry analysis, the paperboard segment will represent an incremental opportunity of US$ 66.60 million by the end of 2030. While it's farfetched to imagine the complete replacement of plastic in packaging, the use of paperboard clips, one tiny object, is expected to make a sea change in the accumulation of plastic waste.
Bag Closures Market Geographical Analysis
Based on the geography, the bag closures market is segmented into North America, Europe, South America, Asia-Pacific, and Middle East & Africa. The demand for bag closures in the North American market is expected to remain at the dominant position in sales and value generation due to the growing volume of trade and e-commerce in countries such as the U.S.
North America dominates the bag closures market during the forecast period
North America dominates the bag closure market due to the increased demand for bag closures from the food industry that focuses on suitable packaging to keep the product safe until consumption. Moreover, North America will continue to lead the market for bag closures as bread, frozen meats & consumption of all other packaged food items are expected to remain high in this region during the forecast period. In addition, consumption of cereals for breakfast across the Western regions is also expected to bode well for the clip segment. These are essentially used in residential setups and available in mom & pop retail stores for retail customers. Also, the increasing expenditure on coffee and teas has upped the demand for resealing closures to prevent them from spoiling due to moisture in the air. Manufacturing of bag closures in Latin American countries is in sync with the demand, yet small and ordinary packaging companies extend their offerings to include bag closures in their collection.
China will offer unbelievable opportunities, putting East Asia on the map to consume baked items soars. Changing diets and replacing traditional meals with bread and other confectionery items favor this country's growth. Moreover, the re-possibility of plastic bags has also won the market a sizable consumer base across the APAC. Today, clips and twist ties are used across the industry for re-closing flexible packaging solutions used in agriculture, food and beverages, and garbage disposal services. In addition, mushrooming bakeries and cafes across India have also supported the burgeoning sales of bag closures required to keep contents safe and fresh.
Bag Closures Market Competitive Landscape
The bag closures market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. Kwik Lok Corporation, Schutte bagclosures B.V., Bedford Industries Inc., Multi-Pack Solutions LLC, Plas-Ties Co., International Plastics Inc., AndFel Corp., Detmold Group, GBE Product Packaging, ITW Envopak are the major player in the packaging market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the bag closures market globally.
Kwik Lok Corporation
Overview: Eco-Lok is one portion of an industry-wide opportunity for responsible environmental stewardship. The sustainability the consumers expect meets with the Kwik Lok performance that has set the standard in the bag closure industry for decades. Moreover, the exclusive technology from BioLogiQ used to make Eco-Lok transforms plant-based carbohydrates, such as corn and potatoes, into the NuPlastiQ® material that is fabricated into Eco-Lok bag closures. Using a 100% natural, renewably sourced plant-based resin that needs less fuel to manufacture, NuPlastiQ® helps decrease greenhouse gas emissions and overall material use. They are fully interchangeable with its previous closures and compatible with present Kwik Lok machinery.
The eco-friendly Kwik Lok 912 laser coding arrangement is designed for supreme versatility. This entirely automatic machine prints up to 120 closures per minute, is swift to install, and easy to utilize for over 100,000 working hours. Add text, time, date, serial numbers, 2D codes and graphics onto Kwik Lok closure while reducing ink and waste. In addition, it combines exceptional reliability, enhanced efficiency, excellent beam quality and virtually no consumable costs, and the business can be assured of long-term maximum productivity and low cost of ownership.
A next-generation resolution for the high-speed line, the 910A, can close up to 120 bags per minute. The brand-new 910A automatic bag closing machine provides the same highly reliable Kwik Lok technology and uses it to an all-new level. Moreover, the 910A offers a host of improved protection and operational features making the 910A even more comfortable to operate while using up less line space. In addition, significant new advantages include a lighter, more compact design, easy to clean aluminum and stainless-steel construction, along with user-friendly mechanical components that provide extended accessibility for maintenance. All 910A machines come ready to run closure labels for coding, tracking, and promotional messages.
The global bag closures market report would provide an access to an approx. 69 market data table, 77 figures and 180 pages.
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