Global Bag Closure Market, By Material Type (Plastic, Paper and Paperboard, Metal), Product Type (Clip, Pre-Cut Twist Ties), Application (Food, Non Food) – Industry Trends and Forecast to 2030.
Bag Closure Market Analysis and Size
In last few years, the demand for bag closures has increased dramatically. Bag closures are commonly used packaging solutions for the sealing and packing of numerous sorts of bags. Moreover, bag closures market is categorized by supply closure and seal products such as coffee bag closures, magnetic purse closures, drawstring closures, snap bag closures, bread clips or bag closure clips, magnetic bag closures, zip closures, flap bag closures, tote bag closures, bag fasteners, clasp bag closures and many more. As a result of availability of various closure and seal products, increase the growth of the bag closures market globally.
Data Bridge Market Research analyses that the bag closure market was valued at USD 205.00 million in 2022 and is expected to reach USD 331.70 million by 2030, registering a CAGR of 6.20% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Bag Closure Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Material Type (Plastic, Paper and Paperboard, Metal), Product Type (Clip, Pre-Cut Twist Ties), Application (Food, Non Food)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa
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Market Players Covered
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Kwik Lok Corporation, Schutte bagclosures (Netherlands), Bedford Industries INc, (U.S.), TruSeal (Pty) (South Africa), ITW Envopak (U.K,), Zhenjiang Hongda Commodity Co. Ltd (China), Plas-Ties, Co. (U.S), Multipack (U.K.), Aluvin (South Africa), T & T Industries (Taiwan), A. Rifkin Co. (U.S.)
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Market Opportunities
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Market Definition
Bag closure is a type of packaging mainly used to prevent the product from getting damaged from the outer environmental factors. These bags are mainly available in two types such as pre- cut twist ties and clip. These package is easy to reclose. These closed bags are also protect the texture, aroma and taste of the product. These bag closures allow the consumer to keep the product from leaking when stored between uses.
Bag Closure Market Dynamics
Drivers
- Increasing availability of extensive range of bakery products
The introduction of a wide-range of variety of bakery products for diet and health-conscious consumers, such as sugar-free and gluten-free has widely augmented the demand for the bag closures. Therefore, increasing the consumer base for confectionery and baked goods is anticipated to increase the bag closures sales and drive the market's growth rate during the projection period.
- Growing demand of bag closure for re-usable packaged food
The sales of bag closures are highly connected to the demand for the reusable packaged food products. The bag closures are most popular for packaging food products such as bakery and confectionery. Moreover, flexible packaging for bread processing is the most noticeable end user of bread clips in which large number of closure used daily. Thus, the increasing sales of bakery products continue to reflect the demand for these bag closure in the market and expected to drive the market growth rate.
Opportunities
- Growing fashion trend among working women
The increasing female workforce in several countries, combined with augmented brand recognition, boosts the demand for handbags globally. Also, increasing availability of designer bags in numerous styles has upraised the demand for the handbags in last few years. Bag closures are available in different sizes and designs in the market which upsurge the standard of living and increases fashion craze among people. On a global scale, augmented usage of handbags among working women is expected to be a prominent trend. Thus, increasing demand for handbags is subsequently increasing the sales of bag closures, ultimately creating ample and lucrative opportunities for market growth.
- Growth and expansion of cafés and bakery chains
Increasing the number of bakery and cafés chains all over the globe has augmented the demand for twist ties and clips, mainly used to close tea, coffee, and other products effectively. Therefore, the sales of bag closures will keep growing in upcoming year and create lucrative opportunities for the market growth.
Restraints/ Challenges
- Easy availability of durable substitutes and growing environmental awareness
Easy availability of strong substitutes and increasing environmental concerns among consumers are expected to hinder the bag closures market growth during the projection period. Significant spending on research and development activities for other cheaper products may also pose a risk to the market expansion. Furthermore, people become more aware of environmental concerns due to numerous programmes on global warming. As a result, consumers shifting towards necessity over luxury, which can also be a major market challenge during the forecast.
This bag closure market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growth application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the bag closure market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Covid-19 Impact on Global Bag Closure Market
The outbreak of COVID-19 pandemic stopped the world for a period of time. Numerous restrictions enforced by respective governments which stopped the working of many industry verticals. The disruptions in supply chain led to the lack of raw materials required for the production of bag closures. Also, suppliers of bag closures were not capable to fulfil their orders. Overall, the COVID-19 pandemic affected the growth of the bag closures market. However, during pandemic the e-Commerce platform product sales augmented, which led to increasing sales and need of bag closures. The market is anticipated to recover its full potential and progress throughout the projected period.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Bag Closure Market Scope
The bag closure market is segmented on the basis of material type, product type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material Type
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Paper and Paperboard
- Metal
Product Type
- Clip
- Clip Bands
- Multi-clips
- Pre-Cut Twist Ties
- Twist-bands/Twist-strips
- Tin Ties
Application
- Food
- Bakery & Confectionery
- Fruits & Vegetables
- Meat
- Poultry & Seafood
- Ready-to-Eat Food
- Others (Tea, Coffee and others)
- Non Food
- Garbage / Trash
- Security Packaging
- Others (Toys, Stationery and others)
Bag Closure Market Regional Analysis/Insights
The bag closure market is analyzed and market size insights and trends are provided by country, material type, product type and application as referenced above.
The countries covered in the bag closure market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
North America dominates the bag closure market in terms of market share and revenue. This is mainly due to high consumption of bread, frozen meats and all other packaged food products in this region.
Asia-Pacific is expected to be the fastest developing region during the forecast period of 2023-2030 due to replacing traditional meals with bread and other confectionery products and rapid change in the diets of consumers.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Bag Closure Market Share Analysis
The bag closure market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to bag closure market.
Some of the major players operating in the bag closure market are:
- Schutte bagclosures (Netherlands)
- Bedford Industries Inc, (U.S.)
- TruSeal (Pty) (South Africa)
- ITW Envopak (U.K.)
- Zhenjiang Hongda Commodity Co. Ltd (China)
- Plas-Ties, Co. (U.S.)
- Multipack (U.K.)
- Aluvin (South Africa)
- T & T Industries (Taiwan)
- A. Rifkin Co. (U.S.)
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