The twist tie market is anticipated to record a CAGR of 5.5% during the forecast period. The twist tie market is anticipated to grow from USD 9.54 Billion in 2022 to reach a valuation of USD 16.3 Billion by 2032.
| Attributes | Details |
|---|---|
| Twist Tie Market Value (2022) | USD 9.54 Billion |
| Twist Tie Market Value (2032) | USD 16.3 Billion |
| Twist Tie Market CAGR (2022 to 2032) | 5.5% |
Sales of twist tie are expected to rise as they are easy to use and cost-efficient, which influence a large number of applicants for the use of it, for the process of packaging and sealing.
The increased demand from the bakery and confectionery markets has a significant impact on the global twist tie market share. As a result, global demand for twist ties is likely to rise as demand for packaged fresh food rises.
Manufacturers of twist ties are interested in the convenience with which the packaged product can be sealed and unsealed. This is a major factor impacting the sales of twist tie. Medical, fresh food, agricultural, and other applications necessitate the use of simple closures. As a result, the demand for twist tie is predicted to rise over the forecast period.
Some of the key twist tie market trends promoting the demand for twist tie include lightweight bag closures, which are anticipated to increase sales of twist tie in order to meet long-term goals at a lower cost. The availability of options in twist ties, such as color, material, and size, is likely to boost demand for twist tie.
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The twist tie market share is predicted to grow due to increased demand for twist tie from the consumer durables and electronic products business, the food sector, and other industries. As a result of the rising demand, the sales of twist tie is also anticipated to rise.
Wires, chargers, earphones & headphones, and other wired devices in the electrical & electronics business are typically secured with a twist tie to keep them untangled. Thus, demand for twist tie in the electronics business is also anticipated to rise during the forecast period, which will further heighten the sales of twist tie.
Twist ties are also used in grocery stores, shopping malls, and other establishments to secure the opening of bags containing grains, pulses, and items such as packets of bread and others, which boost the sales of twist tie. During the projected period, this aspect is likely to increase demand for the twist tie market.
Twist tie machines are available on the market to assist with tying the openings of bags in locations where twist ties are used often. Furthermore, unlike other alternatives such as cable ties, wire ties, and hose ties, they may be reused repeatedly. During the forecast period, these factors are projected to drive sales of twist tie and further boost the twist tie market share.
The Asian region is expected to lead the global twist tie market during the next decade. The increased sales of twist tie in the region are due to rapid growth in industrialization and high growth in the food, electrical & electronics industry in the region.
China and India are anticipated to drive the growth of the twist tie market in the region.
North America region is expected to fuel the global twist tie market. It is attributed to the high demand for twist tie created by industries such as food, groceries, and electronics, among others. This factor is anticipated to further increase the sales of twist tie during the forecast period.
A similar trend is followed by European countries, including Germany, Italy, France, the UK, and Spain, among others. In these countries, twist ties are mostly used in the food and electronic sector. Consumption of bread is very high in this region, and twist tie is employed to tie open the mouth of bread bags.
This factor is expected to drive the growth prospects of the global twist tie market share during the forecast period. MEA region is expected to witness average growth in the twist tie market during the forecast period.
| Report Attribute | Details |
|---|---|
| Growth rate | CAGR of 5.5% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 to 2020 |
| Forecast period | 2022 to 2032 |
| Quantitative units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments covered | Material Type, End Use, Region |
| Regional scope | North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia and New Zealand |
| Country scope | USA, Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa |
| Key companies profiled | International Plastics Inc.; Associated Bag; ClearBags; Bedford Industries; Anchor Bag Leco Plastics, Inc.; Save Ties |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
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The Twist Tie Market is likely to register a CAGR of 5.5% during the forecast period.
Key players holding substantial Twist Tie Market share include International Plastics Inc., Associated Bag, ClearBags, Bedford Industries, Anchor Bag Leco Plastics, Inc., and Save Ties.
As per the analysis, the twist tie market share is likely to be USD 16.3 Billionn by 2032.
Demand for twist tie is likely to rise due to increased demand from the consumer durables and electronic products business, the food sector, and other industries.
| Market Size 2023 | USD 237.0 million |
|---|---|
| Market Size 2033 | USD 389.8 million |
| Value CAGR (2023 to 2033) | 5.1% |
| Market Value (2022) | USD 355.60 billion |
|---|---|
| Market Value (2032) | USD 584.77 billion |
| CAGR (2022 to 2032) | 5.1% |
| Market Expected Market Value (2022) | USD 9.54 Billion |
|---|---|
| Market Anticipated Forecast Value (2032) | USD 16.3 Billion |
| Market Projected CAGR (2022 to 2032) | 5.45% |
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Twist Tie Market
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