The bag closures market is capturing a valuation of USD 217.1 million in 2023 and is predicted to reach USD 385.1 million by 2033. The market is registering a CAGR of 5.9% during the forecast period.
Consumers' growing preference for reusable packaged foods has sparked a surge in demand for bag closures in recent years. Growing demand for bread and confessional products presents a significant potential opportunity for bag closure consumption growth over the coming years.
| Attribute | Details |
|---|---|
| Market CAGR (2023 to 2033) | 5.9% |
| Market Valuation (2023) | USD 217.1 million |
| Market Valuation (2033) | USD 385.1 million |
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Increasing Demand for Reusable Packaged Food Products Drive Sales of Bag Closures & Seals, Especially Clips & Twist Ties
Sales of bag closures are closely linked to the demand for reusable packaged food products, the popular of which are bakery and confectionery items. Flexible packaging for bread processing is the prominent end user of bread clips, which number millions daily. As sales of bakery products continue to reflect above-average consumption habits, demand for these bag clips is projected to hold steady.
In addition to bread, many cafés and bakery chains worldwide have increased demand for clips and twist ties. As these are used to close coffee, tea, and other products effectively. Thus, sales of bag closures are estimated to keep increasing over the coming years.
Availability of a Wide Range of Bakery Products to Augment Demand for Bag Closures and Seals
The introduction of a broad variety of bakery products for diet and health-conscious consumers, such as gluten-free and sugar-free, has also increased demand for bag closures. Thus, during the projection period, a rising consumer base for baked and confectionery goods is expected to add to the sales of bag closures.
Furthermore, various government and non-government organizations are working to limit the use of plastic in packaging. This has raised awareness within the packaging and plastic industries.
On the plus side, this has resulted in a considerable increase in demand for twist ties and the use of paperboard to manufacture re-closures. Twist ties are predicted to be significantly more environmentally friendly than plastic clips and are estimated to aid in eliminating single-use plastic.
Increasing Fashion Trend among Working Women Driving Need & Sales of Bag Clasps and Closures
The growing female workforce and increased brand recognition are fuelling global demand for handbags. Over the past several years, expanding the availability of designer bags in various styles has raised the demand for handbags.
Worldwide, the increased use of handbags among working-class women is projected to be a prominent trend. Rising demand for handbags subsequently increases the sales of bag clasps and closures.
Bag clasps and closures are available in different designs and sizes. An increase in the standard of living and the rising fashion craze is estimated to propel the demand for bag clasps and closures.
Increasing Environmental Awareness & Easy Availability of Durable Substitutes to Hinder Market Growth
During the projection period, easy availability of strong replacements and rising environmental concerns among people are projected to stifle market growth. Significant R&D expenditure on other cheaper products may also threaten market expansion.
As the general public becomes more aware of environmental concerns due to various programs on global warming. The population's thought process is shifting towards necessity over luxury. This can pose challenges to the market as fewer people are making multiple purchases and using the same products for longer periods.
Principal Consultant
The market expanded at a CAGR of 4.1% from 2018 to 2022. Demand for bag closures has risen dramatically in recent years. Bag closures and seals have regularly used packaging solutions for the packing and sealing of various sorts of bags.
Bag closures and seals are used for reclosing or sealing flexible bags made of less expensive materials with basic but effective designs. Bag seals and closures are commonly used in the food industry for baked goods, confectionery, powdered tea & coffee, and other products. Bag closure and seal manufacturers offer goods that can be used as labels or tags to display product and manufacturer information.
The global market is characterized by supply closure and seal products. Such as bread clips or bag closure clips, magnetic bag closures, drawstring closures, snap bag closures, zip closures, flap bag closures, clasp bag closures, tote bag closures, bag fasteners, and more. Various bag closure types are available in the market. Bags' weight and other physical parameters determine the strength and material capacity of bag closures and seals.
Furthermore, bag closure demand is influenced by its visibility among the target client group. A product such as a bag closure was previously beyond the reach of retail customers. It was only with the growth of organized retail that specialized and unique products such as bag closures began to emerge.
A wide range of items, including bag closures, have benefited from this transition. The evolution of e-commerce platforms from buying points to shopping platforms is one underlying driver. Due to the customers' continued exploration and experimentation with new items; products such as bag closures have found their way into mainstream customer marketplaces.
Biodegradability Quality of Paperboard Clips Dramatically Reduces Waste Caused by Plastic Clips
Paperboard is projected to be a game-changing material, ushering in a new era in the global market. Its strong design and biodegradability are likely to make it a popular alternative to plastic in clip production. Paper fastener evolution has been vital in reimagining the clips for appropriate closure.
According to this study, the paperboard segment is expected to represent an incremental opportunity by 2030. While complete replacement of plastic in packaging is unlikely, usage of paperboard clips is a relatively small product. It is expected to significantly impact the reduction in the accumulation of plastic trash.
North America to Hold Dominant Market Share Through 2030
The global market has been studied across North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa (MEA). The North America bag closures market accounts for a higher market share of around 38.5% in 2022. North America is estimated to continue to lead the global market, as demand for frozen meats, bread, and other packaged foods is expected to stay strong throughout the forecast period.
The Europe market is expected to account for a market share of around 18.9%. Clips are estimated to likely benefit from increased cereals for breakfast consumption across Europe. These are mostly employed in home settings and are accessible to retail consumers at mom-and-pop retail establishments. The rising cost of coffee and tea has also driven demand for resealing closures to keep them from spoiling due to air moisture.
The Latin American market is estimated to account for 9.7% of the global market share in 2022. Bag closure production in Latin America is keeping up with demand, but small and regular packaging companies are expanding their services to include bag closures.
The Asia Pacific market is estimated to account for 28% of the global market share in 2022. Plastic bag re-possibility has given the market a substantial consumer base in the Asia Pacific. Clips and twist ties are now employed in various industries to re-close flexible packaging solutions, such as those used in agriculture, food and beverages, and garbage disposal.
The demand for bag closures in MEA is expected to progress slower than other regions, but this is expected to change slightly towards the end of 2030. In 2022, the market in MEA accounted for a 4.8% share of the global market.
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Rising Food & Beverage Industry Driving Consumption of Bag Closures and Seals
As demand for baked products rises, China is estimated to provide enormous potential, putting East Asia on the globe. Dietary changes and substituting bread and other sweet foods for traditional meals are estimated to help this market grow.
Although China is recognized as being a tea-drinking country, coffee is gaining appeal, particularly among young Chinese customers. China's rising food and beverage industry is estimated to contribute significantly to the demand growth for bag closures. China is securing a CAGR of 7.9% in the global market by 2033.
Rising Demand for Healthcare Products to Drive Sales of Bag Closures
The prevalence of obesity and other health conditions has increased in the United States, igniting a renewed sense of health and fitness among the populace. Growing emphasis on health and fitness has boosted demand for healthy drinks, driving bag closure sales.
Other factors driving bag closure shipments in the United States include large beverage makers, a high spending potential population, and rising demand for alcoholic beverages, spirits, healthy drinks, and RTD beverages. The United States is registering a share of 31.8% in the global market during the forecast period.
The bag closures market is fragmented, with regional and global companies competing. The rise of regional companies and increasing investments in upstream applications are shaping the competitive landscape.
Leading bag closure manufacturers such as Kwik Lok Corporation, Schutte bag closures B.V., Bedford Industries Inc., Multi-Pack Solutions LLC, Plas-Ties Co., International Plastics Inc., AndFel Corp., Detmold Group, and GBE Product Packaging are included in this report.
Product launches, acquisitions, and partnerships are a part of the growth strategies of leading manufacturers of bag closures, all of which contribute to the global growth of the market.
Other Prominent Players in the Global Market are:
Recent Developments in the Global Market are:
Velcro Companies announced its newly launched closure bags such as straps, adhesive-backed tapes, and specialty fasteners. The company continues to innovate improved products to expand its business portfolio.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Material, Product, Application, Region |
| Key Companies Profiled | Plas-Ties, Co.; Kwik Lok Corporation; Schutte Bagclosures B.V.; Bedford Industries, Inc.; Multipack B.V.B.A.; International Plastics Inc.; Inno Bag Closure; Truseal (Pty) Ltd.; Vikela Aluvin Pty Ltd.; ITW Envopak Limited; T & T Industries Inc.; Zhenjiang Hongda Commodity Co., Ltd.; AndFel Corporation; Detmold Group; A. Rifkin Co.; HSA International Group. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
By 2023-end, the fruit powders market will reach a valuation of USD 217.1 million.
The global market size is to reach USD 385.1 million by 2033.
Increasing demand for reusable packaged food products drives sales in the market.
Increasing environmental awareness and easy availability of durable substitutes limits market potential.
The increasing fashion styles trending among working women is a popular trend in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 5.1. Plastic 5.1.1. Polyethylene (PE) 5.1.2. Polypropylene (PP) 5.1.3. Polystyrene (PS) 5.1.4. Polyethylene Terephthalate (PET) 5.1.5. Polyvinyl Chloride (PVC) 5.2. Paper & Paperboard 5.3. Metal 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 6.1. Bag Closure Clips 6.1.1. Clip Bands 6.1.2. Multi-clips 6.2. Bag Closure Pre-cut Twist Ties 6.2.1. Twist-bands/Twist-strips 6.2.2. Tin Ties 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. for Food 7.1.1. Bakery & Confectionery 7.1.2. Fruits & Vegetables 7.1.3. Meat 7.1.4. Poultry & Seafood 7.1.5. Ready-to-Eat Food 7.1.6. Others 7.2. for Non-food Applications 7.2.1. Garbage / Trash 7.2.2. Security Packaging 7.2.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Plas-Ties, Co. 16.2. Kwik Lok Corporation 16.3. Schutte Bagclosures B.V. 16.4. Bedford Industries, Inc. 16.5. Multipack B.V.B.A. 16.6. International Plastics Inc. 16.7. Inno Bag Closure 16.8. Truseal (Pty) Ltd. 16.9. Vikela Aluvin Pty Ltd. 16.10. ITW Envopak Limited 16.11. T & T Industries Inc. 16.12. Zhenjiang Hongda Commodity Co., Ltd. 16.13. AndFel Corporation 16.14. Detmold Group 16.15. A. Rifkin Co. 16.16. HSA International Group. 17. Assumptions & Acronyms Used 18. Research Methodology
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Bag Closures Market
