Bag Closures Market 2020 – Research Activities, Technology Adoption and Industry Statistics Analysis Till 2030

Sales of bag closures Market is closely associated with the demand for reusable packaged food products, among which bakery and confectionery items top the list. Flexible packaging for bread processing is the prominent user of bread clips, which truly run into millions on daily basis. Thus, Future Market Insights indicates that the demand for these clips is expected to remain steady, as sales of bakery products continue to reflect above average consumption patterns. The trend is anticipated to continue in the second half of 2020.

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Future Market Insights predicts that the global bag closure market will register a CAGR of over 5% between 2020 and 2030. The market is projected to grow 2.7x of its current market value as demand for bag closures swiftly moves from plastic to other materials in the wake of debilitating impact of plastic on the environment. This trend has been observed by analysts as sales of twist ties have been on a consistent rise as compared to clips variants.

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.

Key Takeaway from Global Bag Closure Market :
Application of bag closures to remain highest in food segment to grow 1.7x the current market value as its usage remains critical for packaging of fruits and vegetables, bakery and confectionery, and meat, poultry etc.
Of all materials, plastic will show an incremental opportunity of US$ 245 Mn by the end of 2030 as its durability will make it a dependable option for packaging of perishable goods in FMCG sector
North America likely to hold a lion’s share in terms of revenue with a valuation of US$ 113 Mn by 2030 as baked items continue to remain a part of staple food
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

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“The outlook towards bag closures as changed drastically as most consumers seek multipurpose use of packaging. From clips to twist ties, manufacturing companies are investing in developing end products with recycled materials and designing it to ensure they beyond the lifecycle of packed product. For instance, twist ties have successfully accomplished it as they being used for bundling wires, securing plants, and hanging sundry objects, thus reducing the pressure on garbage,” says FMI Analyst.

Manufacturers to Change Modus Operendi as Sustainability becomes Key Issue in Waste Plastic Closures Generate :
A major shift in reducing the detrimental materials used for packaging has significantly impacted the bag closure market in recent years. A shift towards paper packaging of several bakery items also led to a transition in using twist ties instead of clips. In the past few years, manufacturers too have made a conscious effort to use recyclable plastic to produce clips for making closures used in packing confectionery items.

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Strengthening Trending of Baking to Offer Bag Closures Market New Opportunities in the East :
In the past decade, bakeries have sprung up in the Eastern economies, expanding base from traditional Western ones. This has definitely upped the consumption of bread in sprawling urban landscapes, giving a boost to the demand for clips and twist ties. Increasing consumption of cookies, biscuits, and cakes have also led to rise in the sale of bag closures for flexible packaging of these goods.

Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.