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%. Bag closure clips accounted for around 1.2% of the global plastic closures market in 2021. Bag clips are becoming more popular in the food business.
Bag closure clips are innovative devices used to seal bags effectively. They are typically made of durable plastic or metal and come in various shapes and sizes to accommodate different bag types. Bag closure clips offer a simple and efficient closure solution for a wide range of industries, including food and beverage, agriculture, retail, and more. With their ease of use and reliable sealing capabilities, bag closure clips have become a staple in the packaging industry.
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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.
Bag Closure Clips Market Trends
The Bag Closure Clips Market is constantly evolving, adapting to changing consumer preferences and industry requirements. Some notable trends in the market include:
- Growing Demand for Eco-friendly Materials: With increasing environmental concerns, there is a rising demand for bag closure clips made from sustainable and biodegradable materials. Manufacturers are focusing on developing eco-friendly alternatives to cater to the growing consumer demand.
- Customization and Branding: In today’s competitive market, branding plays a crucial role in product differentiation. Bag closure clip manufacturers are offering customization options, allowing businesses to incorporate their logos, colors, and designs on the clips, thereby enhancing brand visibility.
- Innovation in Closure Mechanisms: Manufacturers are continuously innovating to improve the functionality of bag closure clips. From advanced locking mechanisms to easy-open features, these innovations aim to provide enhanced convenience and user experience.
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.
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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.
The Key Players Are-
- Petersens Plastics
- TruSeal Pty
- Versapak International
- Euroseal As
- Plas-Ties, Co.
- Multipack B.V.B.A.
- International Plastics Inc.
- Detmold Group
- A. Rifkin Co.
- HSA International Group
- others
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.
More Insights on Offer
The report by FMI on the bag closure clips market is segmented into three major sections – product type (simple clips and mechanical clips), end use (food industry and medical & other industries, and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate the lucrative opportunities in the market.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
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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)
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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