The global Food Storage Bags Industry is on a remarkable growth trajectory. With an estimated sales revenue of US$ 4,749.9 million in 2023, this market segment is poised for substantial expansion. Projections suggest that by 2033, the food storage bag market is set to achieve a remarkable valuation of US$ 8,832.1 million. This impressive growth journey is underpinned by a projected compound annual growth rate (CAGR) of 6.4% over the forecast period spanning from 2023 to 2033. This robust CAGR reflects the growing demand for efficient and convenient food storage solutions worldwide, emphasizing the market’s significance in today’s fast-paced lifestyle.
Food storage bags are used to preserve the food’s freshness, quality, and flavor as well as to guard against freezer burn, contamination, and spoiling. They are frequently used in homes, eateries, catering businesses, and other food-related enterprises.
Rising demand for food storage bags from households, institutional food services, and other end-use sectors is expected to drive the global market during the forecast period.
The increasing customization is pushing the logistics and supply chain companies to offer protective packaging solutions that will handle the product from start to end. Companies willing to offer solutions as per the customer’s demand and going the extra mile to offer value-added services are dominating the Food Storage Bags Industry.
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2018 to 2022 Food Storage Bags Sales Outlook Compared to Demand Forecast from 2023 to 2033:
According to Future Market Insights (FMI), global sales of food storage bags grew at a CAGR of 4.8% during the historic period from 2018 to 2022. Total market value increased from US$ 3,722.6 million in 2018 to US$ 4,498.8 million by 2022.
Looking ahead, the global food storage bags industry is projected to expand at 6.4% CAGR during the forecast period, reaching a valuation of US$ 4,749.9 million by 2033.
Growing usage of food storage bags in households, hotels, restaurants, and other sectors is driving the global market forward. Similarly, rising focus on enhancing food safety is expected to create a high demand for food storage bags through 2033.
Consumer retail outlets provide food storage bags made from different materials, such as plastic, biodegradable options, or specialty materials designed for specific purposes. This variety allows customers to choose bags that align with their preferences, including sustainability considerations.
The lightweight and portable nature of food storage bags make them ideal for on-the-go consumption and packed lunches.
Drivers:
- Food Preservation: The fundamental need to preserve and store food items efficiently and safely is a primary driver for the food storage bags industry. These bags are essential for extending the shelf life of various food products.
- Convenience and Portability: Food storage bags offer convenient and portable solutions for storing and transporting food, making them indispensable for packed lunches, picnics, and on-the-go meals.
- Environmental Considerations: The demand for eco-friendly and biodegradable food storage bags has increased as consumers become more environmentally conscious. This has driven innovation in sustainable packaging solutions.
- Food Safety Regulations: Stringent food safety regulations and standards often require the use of specific types of food storage bags to maintain food safety and quality.
- Advancements in Material Technology: Ongoing research and development lead to the creation of food storage bags with improved materials, features, and capabilities, expanding their application areas.
Restraints:
- Environmental Impact: The use of non-biodegradable plastic food storage bags can contribute to environmental issues, such as plastic waste and pollution, which may lead to regulatory restrictions and consumer backlash.
- Competition from Alternatives: Alternatives to traditional food storage bags, such as reusable containers, glass jars, and sustainable packaging, can compete with food storage bags, affecting their adoption.
- Material Costs: Fluctuations in material costs, especially for sustainable and biodegradable options, can impact the overall production cost of food storage bags, potentially leading to price fluctuations.
- Safety Concerns: Some food storage bags may raise concerns about chemical leaching or safety, particularly when used for hot or acidic foods. Addressing these concerns can be a challenge for manufacturers.
- Regulatory Compliance: Meeting evolving regulatory standards for food contact materials, including food storage bags, can be a complex and costly process for industry players.
- Consumer Awareness: Educating consumers about the proper use, advantages, and environmental impact of different types of food storage bags is essential, as awareness can affect purchasing decisions.
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Food Storage Bags Industry by Categorization:
By Closure Type:
- Zipper
- Sliders
- Bags With Twist Ties
- Fold Tops
By Volume:
- Small (Up to 1 Litres)
- Medium (1 Litres To3 Litres)
- Large (Above 3 Litres)
By Material:
- Plastic
- Paper
- Aluminum
- Silicon
By Application:
- Dairy Product
- Ready-to-Eat Food
- Pet Food
- Baby Food
- Fresh Produce
- Bakery & Confectionery
- Other (Dry Fruits, Spices & Condiments)
- By End Use:
- Commercial
- Institutional Food Services
- Household Use
By Region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Western Europe
- Eastern Europe
- Central Asia
- Russia & Belarus
- Balkan & Baltic Countries
- Middle East & Africa
Key Players:
- Reynolds Consumer Products
- Ziploc (S.C. Johnson & Son, Inc.)
- The Glad Products Company
- Inteplast Group
- Falcon Pack
- Fantastic Industries Inc
- Wuxi Tyler Packaging Products Co.,Ltd
- Duropak Limited
- OK Packaging Manufacturing Co., Ltd.
- Universal Plastic Bags
- Champion Plastics
- Rishi FIBC Solutions PVT. Ltd
- Handgards
- RediBagUSA
- Vera Plastics
- Royal Bag Inc
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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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