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

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.

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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This release was published on openPR.