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Bag Closure Market 2020-2026 Review: Big, Bright and Booming || Leading Players - Detmold Group, Petersen Plastics, GBE Packaging, A. Rifkin Co., TruSeal (Pty) Ltd, HSA International LLC.;
Global Bag Closure Market 2020
By thinking from the customer point of view, a team of researchers, analysts and industry experts work carefully to generate global Bag Closure market research report. This business report studies the market at regional and global level by considering major geographical areas. Besides, this market research document makes clients aware about the various strategies that are used by key players of the market. To succeed in this promptly changing market place, businesses must take up the market research report solution such as Bag Closure market research report. The market data and information included in this industry report not only aids business make data-driven decisions but also assures maximum return on investment (ROI).
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Global bag closure market is expected to rise to an estimated value of USD 269.24 billion by 2026, registering a substantial CAGR of 5.85% in the forecast period of 2019-2026. Increasing usage of bag closure in food industry is the major factor for the growth of this market.
Few of the major competitors currently working in the global?bag closure market?are?Kwik Lok Corporation, Schutte bagclosures Uden bv, Bedford Industries, Inc, Multi-Pack Solutions LLC, Plas-Ties, Co., Tntind Industries Co., Zhenjiang Hongda Commodity Co.,Ltd, International Plastics Inc., AndFel Corp., INNO BAG SEAL, Detmold Group, Petersen Plastics, GBE Packaging, A. Rifkin Co., TruSeal (Pty) Ltd, HSA International LLC., ITW Envopak, Vikela aluvin, Versapak International Limited, EUROSEAL a.s.
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Market Definition: Global Bag Closure Market :-?
Bag closure is a type of a packaging which is used to keep the product safe and prevent them from getting damaged from the external factors. They are of two types clip and pre- cut twist ties. Usually, polystyrene is used for the manufacturing of the bag closure but plastic, paper & paperboard and metal are other materials which are used to make the bag closure. These bag closure are widely used in food industry as they prevent from getting spoiled which is fuelling the growth of this market.
Segmentation: Global Bag Closure Market :-
Bag Closure Market : By Type
?Plastic
?Paper & Paperboard
?Metal
Bag Closure Market : By Product Type
?Clip
?Pre-Cut Twist Ties
Bag Closure Market : By Application
Food
Non Food
Bag Closure Market : By Geography
North America
South America
Europe
Asia-Pacific
Middle East & Africa
Bag Closure Market Drivers:-
Rising usage of bag closure in food industry is driving the market growth
Increasing demand for easy-to-apply & reclosable bag closures is another factor driving the market growth
Technological advancement and development is another factor driving the growth of this market
Bag Closure Market Restraints:-
Rising environmental concern among population is restraining the growth of this market
Key Developments in the Bag Closure Market:-
In January 2019, TricorBraun announced that they have acquired Pacific Bag LLC, so that they can create a new unit which will totally focused on the flexible packaging called TricorBraun Flex. This acquisition will help the company to expand their portfolio in household, pharmaceutical & consumer goods and also make their Taipak acquisition successful.
In November 2016, APLIX announced the launch of their new sensory and intuitive closure for small bags- EASY LOCK TOUCH which has 16mm thin closure. It also helps the consumer to check whether the packaging is sealed or not by improving the audible and solid response when opened and closed. This new closure is made from the polyethylene materials. They can be used widely in the cheese, confectionary, snacks, fruits, cereal and other packed goods.
Competitive Analysis: Global Bag Closure Market :-
Global bag closure market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of bag closure packaging market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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