By 2023, the bag clips market is projected to be worth US$ 5.0 billion globally. The market for bag clips, which is expected to develop at a CAGR of 6.0% between 2023 and 2033 and reach around US$ 9.1 billion by that time, is further supported by enhanced product functionality.
There has been a notable change in consumer tastes and purchasing behavior as a result of the increased awareness of environmental issues around the world, especially the concerning amounts of plastic pollution and its effects on ecosystems. Packaging is one of the businesses that is being shaped by the drive toward environmental sustainability. This trend has even affected bag clips, which are tiny but crucial packaging components.
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Changing consumer lifestyles, including an increased focus on health and wellness, on-the-go consumption, and home-cooking trends, are influencing packaging needs. Bag clips provide a simple yet effective solution to address these changing consumption patterns. They enable portion control, easy access to snacks, and convenient storage, aligning with evolving consumer preferences.
Bag clips are essential tools for extending the shelf life of food items by maintaining their freshness and preventing exposure to air and moisture. The demand for bag clips as a cost-effective and efficient solution for food preservation is on the rise, as consumers become more conscious of food waste and seek ways to extend the life of their groceries.
Key Takeaways from the Market Study
- Global bag clips market was valued at US$ 4.8 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.0%.
- Asia Pacific is expected to hold a dominant CAGR of 5.9% during the forecast period.
- By material, plastic segment is expected to constitute a CAGR of 5.9% in 2033.
- On the basis of end-use, residential segment is expected to dominate the market with a CAGR of 5.9% in 2033.
- From 2023 to 2033, bag clips market is expected to flourish at a CAGR of 6.0%.
- By 2033, the market value of bag clips is expected to reach US$ 9.1 billion.
Competitive Landscape
Prominent players in the bag clips market are Kwik Lok Corporation, Klippit, Polybags Limited, The Gripstic, BST Detectable Products, ENTHEOS Group, STROBIGO, Laurel Klammern GmbH, KLR Systemes, and Haircap, among others.
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Recent Developments:
- In 2022, Magnetic Bag Clips announced the launch of its new line of bag clips that are designed to be more versatile. The new clips can be used with a variety of different types of bags, including plastic, paper, and foil.
- In 2021, Stainless Steel Bag Clips announced the launch of its new line of bag clips that are designed to be more durable. The new clips are made from stainless steel, which is a stronger and more corrosion-resistant material than plastic.
- In 2021, BPA Free Bag Clips announced the launch of its new line of bag clips that are designed to be more environmentally friendly. The new clips are made from materials that are free of bisphenol A (BPA), a chemical that has been linked to health problems.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global bag clips market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the bag clips market, the market is segmented on the basis of material (plastic, wood, and metal), by product type (magnetic, and non-magnetic), and by end-use (residential, institutional, and commercial), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Growth Drivers in the Bag Clips Industry:
- Increasing Demand for Food Preservation: The growing awareness of food wastage and the need for prolonged freshness are driving the demand for bag clips, as they provide a convenient solution for sealing and preserving various food items.
- Rising Preference for Eco-Friendly Alternatives: Consumers are increasingly opting for reusable and sustainable options, and this trend extends to bag clips. Eco-friendly materials and designs that reduce single-use plastic waste are gaining popularity.
- Expanding Food and Beverage Industry: The growth of the food and beverage industry worldwide contributes to the demand for efficient packaging solutions. Bag clips play a crucial role in maintaining the quality and shelf life of packaged products, driving their adoption.
- Convenience in Household Storage: As households seek convenient storage solutions, bag clips offer a simple and effective way to seal and organize various items, such as snacks, frozen foods, and pantry staples, contributing to their market growth.
- Innovations in Design and Materials: Continuous innovations in the design and materials used for bag clips, such as improved sealing mechanisms and durable, heat-resistant materials, are enhancing the functionality and versatility of these products, stimulating market growth.
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Key Segments:
Material:
- Wood Bag Clips
- Metal Bag Clips
- Plastic Bag Clips
- Polypropylene
- Polyethylene
- Polystyrene
Product Type:
- C Clamp Bag Clips
- With and without Magnet Bag Clips
- Date Bag Clips
- Promotion Bag Clips
Size:
- Mini Bag Clips (2” x 3”)
- Small Bag Clips (2.5” x 2.5”)
- Large Bag Clips (3” x 6”)
End Use:
- Bag Clips for Food and Beverages
- Bag Clips for Electric and Electronics
- Bag Clips for Pharmaceuticals
- Bag Clips for Textiles
- Bag Clips for Other End Uses
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia
- Middle East & Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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