The market for bag closing clips is expected to reach US$ 194.7 million in 2022 and US$ 304.8 million in 2029, growing gradually at a CAGR of 5.6%. In 2021, sales of bag closure clips were around 1.2% of the worldwide plastic closures market. The use of bag clips is expanding in the food business.
The visibility of a product among a target client group determines its demand. Bag closure clips were formerly beyond the reach of retail customers, and were only used by organized retail. Evolution of e-Commerce platforms from buying points to shopping platforms is one underlying driver. Customers continue to experiment with new items, and, as a result, products such as bag closure clips have made their way into mainstream marketplaces. Bag closing clip companies are projected to benefit from the diverse range of products across end-use categories.
Get Sample of the report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-8532
Key Takeaways from Market Study
- Global bag closure clips market to reach US$ 304.8 Mn by 2029.
- Simple bag closure clips projected to record healthy CAGR over forecast period.
- Market in North America holds share of around 38.5%.
- Market in Europe to account 18.9% share over forecast period of 2022- 2029.
“The perception of bag closure clips has shifted significantly as more people demand packaging that can be used for multiple purposes. Increasing use of easy-to-apply bag closure clips in food as well as non-food product applications is expected to create greater opportunities for market players over the coming years,” says an FMI analyst.
How is the Market for Bag Closure Clips Faring in the U.S.?
“Growing Use of Easy-to-Apply Snack Bag Closures Fueling Market Growth”
Snack bag closures have witnessed up surging demand in the U.S. These bag closure hooks are widely used for fresh produce products where bags need proper closure.
In the U.S. bag closure clips market, there is high adoption of such closure devices. This is due to the high standard of living in the region coupled with the high acceptance of snack bag closures.
Ask an Analyst @ https://www.futuremarketinsights.com/askus/rep-gb-8532
Market Competition
Leading manufacturers of bag closure clips are proliferating through both, inorganic and organic strategies, including the development of manufacturing plants and introducing new products.
Invention of environmentally friendly bag closure clips will be essential for market vendors looking to lower their carbon footprint. This is projected to increase the use of plant-based biopolymers in the production of bag closure clips, which will make a significant difference global landfill trash disposal.
Key Companies Profiled
- Kwik Lok Corporation
- Schutte Bagclosures
- Bedford Industries
- AndFel Corporation
- Petersens Plastics
- TruSeal Pty
- Versapak International
- Euroseal As
- Plas-Ties, Co.
- Multipack B.V.B.A.
- International Plastics Inc.
COVID-19 Impact on Demand for Bag Closure Clips
The COVID-19 pandemic has had a significant influence on the world economy at several levels, including the packaging industry.
Due to the shutdown of manufacturing units, acute shortages in raw materials, and a lack of prospective workforce, bag closure clip sales saw a steep drop in sales during lockdown periods. Production and inventory activities faced mild difficulties as a result of the pandemic, which may be concluded from the current position.
However, following COVID-19, the market is expected to gradually recover, presenting excellent sales prospects for bag closure fastener suppliers in many parts of the world over the coming years.
Report Customization available @ https://www.futuremarketinsights.com/customization-available/rep-gb-8532
Key Segments of Bag Closure Clips Industry Research
By Product Type:
- Simple Bag Closure Clips
- Mechanical Bag Closure Clips
By End Use:
- Bag Closure Clips for Food Industry
- Bakery
- Fresh Produce
- Bag Closure Clips for Medical & Other Industries
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
Have a Look at Related Research Reports of Packaging
Reusable Water Bottles Market Forecast: According to Future Market Insights research, during the projected period, the reusable water bottles market is enjoyed a valuation of US$ 8.9 Billion in 2022
Direct to Garment Printing Market Outlook: The global direct to garment printing market size was valued at around US$ 765 Mn in 2021 and it is likely to reach US$ 822.1 Mn in 2022
Molded Pulp Packaging Machines Market Growth: The global molded pulp packaging machines market is set to enjoy a valuation of US$ 570.8 Mn in 2022
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
The post Global sales of Bag Closure Clips are projected to exhibit a CAGR of 5.6% over the forecast period 2022-2029 appeared first on Future Market Insights.
