Global Bag Clips Market demand is anticipated to be valued at US$ 5.0 Billion in 2023, forecast to grow at a CAGR of 6.0% to be valued at US$ 9.1 Billion from 2023 to 2033.
Bag clips are closable devices that are used to quickly and conveniently shut bags. Bread clips, plastic clips, bread ties, and bread clips are other names for bag clips. There are two kinds of bag clips: basic bag clips and mechanical bag clips. Bag clips keep things fresh and provide an easy method to reuse bags.
The growing global awareness of environmental issues, particularly the alarming levels of plastic pollution and its impact on ecosystems, has sparked a significant shift in consumer preferences and purchasing behavior. The trend towards environmental sustainability has become a driving force in shaping various industries, including packaging. Bag clips, as small yet essential components of packaging, have also been influenced by this trend.
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Competitive Landscape
Key players in the bag clips market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications. The players are emphasizing on increasing their bag clips production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported bag clips.
Recent Developments:
- In 2022, Silicone Bag Clips announced the launch of its new line of bag clips that are designed to be more user-friendly. The new clips are made from silicone, which is a soft and flexible material that is easy to grip.
- In 2022, Foldable Bag Clips announced the launch of its new line of bag clips that are designed to be more compact. The new clips can be folded up when not in use, making them a more convenient option for storage.
- In 2021, Kwik Lok announced the launch of its new line of bag clips that are made from recycled materials and are recyclable in standard paper recycling streams.
Segmentation:
By Material:
- Plastic
- Wood
- Metal
By Product Type:
- Magnetic
- Non-magnetic
By End Use:
- Residential
- Institutional
- Commercial
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Market Players:
- Kwik Lok Corporation
- Klippit
- Polybags Limited
- The Gripstic
- BST Detectable Products
- ENTHEOS Group
- STROBIGO
- Laurel Klammern GmbH
- KLR Systemes
- Haircap
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Which are Some Prominent Drivers Spearheading Bag Clips Market Growth?
Bag clips are driving the global market due to its low starting cost and time-saving strategy. Furthermore, reusable packaging allows consumers to avoid goods from leaking while kept between uses, which are fuelling the exponential expansion of the bag clips industry. Furthermore, bag clips are made of wood and recyclable plastic, which boosts the worldwide market for bag clips. Industrial bag clips with unique alpha numeric numbers and various color coding are becoming increasingly popular. This enables end users to handle materials more effectively during storage and transit. Because these clips are metal detector compatible, there will be an increase in demand for bag clips in the electric and electronics industries.
Because these clips may be used with net bags, paper bags, or film bags, the demand for bag clips in the FMCG sector is expanding all the time. These clips give a high-quality platform for product branding and advertising, and as a result, they are universally accepted by all end users. As a result, bag clips are the ideal option for dry food goods such as chips, cereals, and dry fruits; the demand for bag clips is expanding at a rapid rate in the food and beverage sectors. Furthermore, bag clips with barcodes and QR codes are the latest trend in the global bag clips market.
What are the Challenges Faced by the Bag Clips Industry?
A few issues that might stymie the expansion of the bag clips market include the use of twist ties and the replacement of these clips by heat sealing technologies.
Why is Asia-Pacific emerging as an Opportunistic Bag Clips Market?
Bag clip sales are increasing modestly in Asia Pacific. Heat sealing method is used for bakery and other food goods in this area; however, with changing packaging preferences, it is projected that demand for bag clips will expand in India and China throughout the projection period.
How is Europe Contributing to Growth of the Bag Clips Market?
According to Future Market Insights, Europe is expected to grow at a significant pace during the forecast period. Because bag clips are eco-friendly product packaging options, there is a surge in demand for these clips in developed nations such as Germany and the United Kingdom.
With rising living standards and consumer disposable money, demand for bag clips is rising in these nations. According to the FDA’s Food Contact Material Limitations and plastic use regulations in European nations, the demand for hardwood clips is dominating the bag clip industry.
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