Bag Closures Market is poised to expand at 5.7% CAGR and reach US$ 311 Million by the end of 2030

Bag Closures Market

Worldwide bag closure sales are valued at around US$ 205 Mn for 2022. The global bag closures market is poised to expand at 5.7% CAGR and reach US$ 311 Mn by the end of 2030. 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.

As part of the quantitative analysis, we have provided regional Bag Closures Market forecasts by type and application, market sales forecasts and estimates by type, application and region to 2030, and Bag Closures Market global sales and production forecasts and estimates to 2030.

For the qualitative analysis, we focused on political and regulatory scenarios, component benchmarking, technology landscape, important Bag Closures Market topics, industry landscape and trends.

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Since the majority of consumers want packaging that serves several purposes, the perception of bag closures has radically changed. Manufacturing businesses are investing in creating finished goods with recycled materials and engineering them to guarantee they last beyond the lifecycle of packed product, like twist ties and clips. For instance, twist ties have achieved it since they are used to bundle wires, secure plants, and hang various objects, relieving strain on rubbish, .”according to an FMI Analyst

Major conclusions from the global bag closure market

  • The food industry will continue to use bag closures the most, with a 1.7x increase in market value, as packaging of fruits and vegetables, baked goods, confectionary, meat, poultry, and other items remains a necessity.
  • Plastic, out of all materials, will present an additional potential of US$ 245 Mn by the end of 2030 because of its dependability as a material for packaging perishable goods in the FMCG sector.
  • As baked goods continue to be a part of basic foods, North America is likely to hold a lion’s share in terms of sales with a valuation of US$ 113 Mn by 2030.
  • Pre-cut twist ties to reach US$ 84 Mn by 2030 as they become preferred closures over clips due to evolving perspective towards minimizing usage of plastic in packaging

Top Key Players Covered-

  • 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.

The biggest end user of this twist ties in the global bag closure market the confectionery industry. Characterized by short runs and small batch products, packaging requires manual effort. While clips were convenient, they are increasingly being replaced by twist ties as these a definitely reduce the plastic usage. The expansion and proliferation of bakeries from basic bread ones to gourmet has resulted in exceptional rise of bag closures.

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Key Segments of Bag Closures Industry Survey

Bag Closures Market by Material:

  • Plastic Bag Closures
    • Polyethylene (PE)
    • Polypropylene (PP)
    • Polystyrene (PS)
    • Polyethylene Terephthalate (PET)
    • Polyvinyl Chloride (PVC)
  • Paper & Paperboard Bag Closures
  • Metal Bag Closures

Bag Closures Market by Product:

  • Bag Closure Clips
    • Clip Bands
    • Multi-clips
  • Bag Closure Pre-cut Twist Ties
    • Twist-bands/Twist-strips
    • Tin Ties

Bag Closures Market by Application:

  • Bag Closures for Food
    • Bakery & Confectionery
    • Fruits & Vegetables
    • Meat
    • Poultry & Seafood
    • Ready-to-Eat Food
    • Others (Tea, Coffee, etc.)
  • Bag Closures for Non-food Applications
    • Garbage / Trash
    • Security Packaging
    • Others (Toys, Stationery, etc.)

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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