The global bag clips market is anticipated to reach a valuation of US$ 5.0 billion in 2023, driven by customization and branding opportunities. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.0% between 2023 and 2033, and reaching a total valuation of approximately US$ 9.1 billion by 2033.
The bag clips market is poised for notable growth over the next decade, driven by several key factors. With the increasing emphasis on food preservation and waste reduction, bag clips have become indispensable household items. Consumers are more conscious of maintaining the freshness of their food, and bag clips provide an effective solution for resealing opened bags of snacks, cereals, and other perishable goods. The rise in disposable incomes and changing lifestyles, especially in urban areas, further propels the demand for convenient and practical kitchen accessories like bag clips.
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Innovations in materials and designs have also contributed to market expansion. Manufacturers are introducing eco-friendly and durable products, catering to the growing consumer preference for sustainable options. The versatility of bag clips, used not only in kitchens but also in offices and for various storage needs, adds to their appeal. Additionally, the expanding e-commerce sector has facilitated greater accessibility and variety, allowing consumers to easily purchase bag clips from a wide range of options.
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.
“Global travel and outdoor activities, across the globe, is a major factor that is expected to propel the growth of the bag clips market in the near future,” remarks an FMI analyst.
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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.
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)).
About Future Market Insights Inc. (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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