Market Research Blog – Page 10533 – New Product Development

The India Bags Market is expected to grow by 1.8x during the forecast period, from 2022 to 2032

By 2022, it is anticipated that the global bag market will be worth US$ 33.5 billion, growing at a CAGR of 3.9% from 2022 to 2032. In 2022, plastic bag sales will meet 70% of the market’s demand globally, according to FMI. However, growing public awareness of the harm that plastics use does to the environment is motivating many to switch to paper bags for commercial and industrial packaging purposes. Paper bags are particularly in demand in the retail and food service industries.

Demand is probably going to increase in the retail and consumer areas, including food and beverage, grocery items, and clothing and apparel. As a result, over 2022, the market for bags in the retail and consumer segments will increase by 4.3%.

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What is the Impact of COVID-19 on the Global Bags Market?

As various lockdown restrictions were structured early in the 2020s, the global bag market expanded at a moderate rate. Owing to curtailed production and ongoing international pressures, the market fell substantially in the first half of 2020. Bag demand recuperated after several months in response to the growing demand for essential commodities caused a large increase in e-commerce.

The market is expected to grow steadily in the coming years. The market for bags is estimated to grow in 2021-2022 by 4% annually. It is expected that the construction of distribution networks to handle rising manufacturing activity, especially in developing countries, will drive the market. A successful outcome is likely to boost sales of higher-priced bags.

Competitive Landscape

Market actors have reshaped the product in such a way that consumers are drawn to acquire bags. The key players in the plastic bags industry are concentrating on providing lighter-weight and more environmentally friendly bags.

Some of the market’s major companies are Berry Global, Mondi Group, Ampac Holdings, LLC, International Plastics Inc., BioBag International AS, Smurfit Kappa, WestRock Company, Billerudkorsnas, Huhtamaki Oyj., Fischer Bag Company.

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Some of the key developments:

Coveris Holdings has announced the acquisition of Initial Packaging Ltd, which will be used to develop and extend bag packaging for security, logistics, and diagnostic applications.
By 2025, Berry Global hopes to have developed 100 percent recyclable lightweight plastic bags. In order to reduce their carbon impact, they are also working to optimize their manufacturing methods.
Mondi Group Inc. has announced ambitions to expand its paper-based MailerBAG line in order to replace plastic packaging in e-commerce with a recyclable solution created from socially sourced renewable materials.
Coveris Holdings has announced the acquisition of Norwich-based flexible packaging production and trading company Four 04 Packaging. The company hopes to specialize in biodegradable bags for fresh food and vegetables as a result of this acquisition.

Key Companies Profiled

Berry Global
Mondi Group
Ampac Holdings, LLC
International Plastics Inc.
BioBag International AS
Smurfit Kappa
WestRock Company
Billerudkorsnas
Huhtamaki Oyj.
Fischer Bag Company

Global Bags Market by Category

By Material Type, Bags Market is Segmented as:

Plastic

Paper
Textile

By Product Type, Bags Market is Segmented as:

T-Shirt Bags
Gusseted Bags
Lay Flat Bags
Garbage/Refuse/Trash Bags
Woven Bags
Other Bags

By End User, Bags Market is Segmented as:

Retail & Consumer
- Grocery Products
- Food & Beverage
- Clothing & Apparel
- Others
Institutional Services
- Hospitality
- Healthcare
- Others
Industrial End Use
Household

By Region, Bags Market is Segmented as:

North America
Latin America
Europe
Middle East and Africa
East Asia
South Asia
Oceania

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Have a Look at Related Research Reports of Packaging

Expanded Polystyrene for Packaging Market Size: The expanded polystyrene for packaging exhibits unique characteristics because of which the demand for the packaging in the electronics and electrical appliances packaging is anticipated to gain traction all over the world

Polystyrene Films Market Share: The polystyrene films are available in gloss and matte which provides smooth and aesthetic finishing to the products and makes the product stand-out among them from other products

Polywoven Bags Market Trends: Polywoven Bags Market by Product, Material, Application & Region – Forecast 2022 – 2032

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Unidirectional Tapes Market is estimated at US$ 203.5 Mn in 2022, likely to surge at a vigorous 10.6% CAGR

The Unidirectional Tapes Market revenue is estimated to reach US$ 203.5 Million by 2022, according to Future Market Insights (FMI). The overall unidirectional tapes market is expected to reach US$ 559.3 Million by 2032, growing at a CAGR of 10.6% for 2022-32.

The automotive and aerospace & defense industries support the market growth by exhibiting consistently high demand for unidirectional tapes. Furthermore, the increasing application of unidirectional tapes in the energy sector is bolstering the demand in the market.

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Besides this, FMI has predicted the application to soar in the manufacturing of windmills and turbines. These tapes are as effective as various alternatives available in the market. Besides which, they are light in weight and highly durable.

Unidirectional tapes increase the efficiency of wind energy generation by reducing the weight of turbines and enabling the manufacturers to produce lighter and longer turbine blades. Lighter and longer blades help in increasing the energy output calculated per revolution.

The carbon fiber type of the unidirectional tapes is most commonly used in the wind energy sector. These tapes offer higher strength and stiffness without increasing the weight of the system. Manufacturers of unidirectional tapes are expanding their product portfolio by focusing on launches. For instance, ZOLTEK Corporation of Toray Group offers unidirectional tapes that are designed specifically for wind energy applications.

Key Takeaways from Unidirectional Tapes Market

By fiber, glass fiber segment is estimated to reach the valuation of US$ 126.1 Mn by the end of 2022.
By resin, the thermoplastic segment is expected to hold 77.5% of value share in 2022.
The sales of unidirectional tapes in aerospace & defense are projected to expand at a CAGR of 9.6% during the span of the next 10 years.
By region, East Asia and South Asia are estimated to hold over 50% of the total unidirectional tapes market in the year 2022 owing to their rapidly expanding automotive and aerospace & defense industries.

“The consistent growth of the automotive industry in the last decade has fuelled the sales of unidirectional tapes during the last few years. In addition to this, the rapidly expanding aerospace & defence industries across the globe are expected to fuel the demand for unidirectional tapes through the forecast period 2022-32,” says FMI analyst.

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Rapidly Growing Aerospace & Defense Industry to Drive the Demand for Unidirectional Tapes

The aerospace and defense industries are consistently growing across the globe. The increasing per capita income and rapidly growing urban population are bolstering the aerospace industry. The rise in the number of aircraft, both private and commercial witnessed in the past 5 years meant higher scope for sales of unidirectional tapes. This rise is mainly because of the change in consumer preference towards air travel despite the higher fare since consumers prefer it to save time.

Furthermore, the defense sector across many countries is growing with the governments increasing their defense budgets. The introduction of new and technologically advanced ammunition and high-tech vehicles and aircraft is boosting the defense industry across the globe.

The unidirectional tapes have many applications in the aerospace & defense industries. These tapes are gaining popularity in these industries for their strength, stiffness and several other properties. The growth of aerospace & defense industries is therefore anticipated to propel the demand for unidirectional tapes during the foreseeable future.

Unidirectional Tapes Market Landscape

Cytec Solvay Group,
SABIC and
Celanese Corporation

are the top players operating in the unidirectional tapes market. Furthermore, Teijin Ltd.,

Evonik Industries,
Barrday Corporation,
Toray Group

are also some of the noticeable players in the unidirectional tapes market. The Tier 3 players in the market hold 65-75% in the global unidirectional tapes market. In conclusion, the key players contribute to almost 25-35% of the global unidirectional tapes market.

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Unidirectional Tapes Market Report

Future Market Insights, in its new report, offers an unbiased analysis of the global unidirectional tapes market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals growth projections on the unidirectional tapes market based on fiber (glass and carbon), resin (thermoplastic and thermoset), end use (automotive, energy, aerospace & defense and other industries (sports, leisure, etc.)), across seven regions.

Explore FMI’s Extensive ongoing Coverage on Packaging Domain

Tape Stretching Line Market – Newly released data from tape stretching line market analysis shows that global demand of the overall tape stretching line market is anticipated to register a CAGR of ~7% during the forecasted period and reach millions of units by 2031.

Splicing Tapes Market – Demand from the paper & printing sector and packaging industries are expanding at a rapid pace, due to increase in publication and digital print industry across the globe

Tabbing Tapes Market – The global tabbing tapes demand is estimated to increase by 4.5% year on year, bucking initial scepticism about how the market would perform during a global pandemic.

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Food Trays Market is expected to reach US$ 1.0 Bn in 2022, likely to surge at a vigorous 4.6% CAGR

The food tray market size stood at US$ 1.0 Bn in 2021 and is expected to total US$ 1.7 Bn by the year 2032, accelerating at a CAGR of 4.6% from 2022 till 2032.

Due to the advent of appealing, user-friendly applications, and tech-enabled driver networks, as well as evolving customer expectations, ready-to-eat food delivery has emerged as a vital business.

Surge in online food delivery during extended period of lockdown in 2020-2021 helped the market to stay afloat. FMI however forecasts sales to recover, as restaurants and cafes begin operating worldwide without any COVID-19 induced restrictions.

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Key Takeaways from Food Tray Market

Plastic is the most used material for manufacturing food trays and it holds a market share of almost 66.5%.
Multi cavity trays/partition trays are creating buzz in the global market driven by the increasing consumption of ready to eat food among millennials.
Restaurants and cafes will remain the chief end-use category, exhibiting a CAGR of 4.5% between 2022 and 2032.
The China food trays market projected to register a CAGR of 5.9% during the forecast period.

“To reduce carbon footprint, instead of manufacturing single-use plastic trays, manufacturers are now producing reusable plastic trays, which is expected to increase plastic tray sales by exponentially over the next decade,” – says a FMI Analyst

Millennials Inclination towards On-the-Go Food and Portion Packs Inspiring Key Players for Innovation

Food trays are primarily consumed in meat and confectionery & bakery products packaging. It enhances shelf display and thus results in quick purchase decisions among consumers. As food trays in combination of smart and active packaging offer better shelf life to the inside product, many of the food product manufacturers are switching to trays packaging from the bulky and tradition box packaging. Besides this, consumer demand for single consumed portion packs and on-the-go food propelling exponential sales of food trays.

On the back of aforesaid market trend, manufacturers are planning to create eye catchy, transparent looks, and small portion food trays made up of complete recyclable material. This has significant impact on the global food trays market, as this step is minimizing carbon footprints.

Sustainable and Green Manufacturing is the New Face of Food Tray Market

Paper trays, fiber-based trays, sugarcane trays, palm leaf trays, corn-starch trays, bagasse trays, and even plant-based polymers are key alternatives to plastic trays and provide a significant challenge to the plastic trays sector, reducing its growth. Because it integrates low-density polypropylene and contains minimal levels of polyethylene thermoplastic, reusable plastic trays are gaining appeal in a number of industries due to rising environmental concerns among consumers of plastic trays.

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Food Tray Market Landscape

Some of the leading players included in the food trays market are players like

Amcor PLC,
Sonoco Products Company,
Huhtamaki Oyj,
DS Smith Plc,
Mondi Group PLC,
International Paper Co,
Brodrene Hartmann A/S,
ESCO Technologies Inc.,
UFP Technologies, Inc.,
Pactiv LLC,

Tray-Pak Corporation, Novolex, BillerudKorsnas, D&W Fine Pack LLC, Henry Molded Products, Inc., OrCon Industries Corporation, Fibercel Packaging Llc., Faerch A/S, Silver Plastics GmbH & Co. KG and Quinn Packaging.

Food Trays Market By Category

By Material Type, Food Trays Market is segmented as:

Plastic
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Others (HIPS, HDPE, etc.)
Paper & Paperboard

By Tray Type, Food Trays Market is segmented as:

Single Cavity
Multi Cavity

By End Use, Food Trays Market is segmented as:

Food Producers & Processors
Restaurants & Cafes
Catering Services
Food Courts
Online Food Delivery

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Key Questions Answered in the Report

How big is the Food Tray Market?
How Much Does Restaurant & Café Segment Contribute Towards Food Trays Sales?
Which Region is expected to Hold Maximum Food Trays Market Share?
Who Are the Leading Players in the Food Trays Market?

Top Reports Related To Packaging Market Insights

Unidirectional Tapes Market: The global unidirectional tapes market is estimated at US$ 203.5 Mn in 2022 and is projected to reach US$ 559.3 Mn by 2032, at a CAGR of 10.6% from 2022 to 2032.

Packaging Bins Market: Global sales of packaging bins stood at around US$ 1.9 Bn in 2021 and is slated to increase at a CAGR of 4.4% to reach a valuation of US$ 3.0 Bn by 2032.

Pails Market: Pails Market is projected to reach US$ 2.9 Bn by 2032, at a CAGR of 4.3% from 2022 to 2032

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Pails Market will consistently Gain from Suring Plastic Pails Sales, Exhibiting 4.3% CAGR through 2032

Future Market Insights (FMI) has predicted the pails market to register 4.3% CAGR between 2022 and 2032. Overall sales of pails is slated to total US$ 2.91 Bn by the end of the assessment period. The consistently rising demand for plastic pails is expected to create conducive environment for the global pails market growth.

Plastic pails are a common primary packaging material used across diverse industries since they are inexpensive, lightweight, and long-lasting and can be used in various sectors such as paints and coatings, industrial chemicals, petroleum, lubricants, cleaning solvents, adhesives, food and drinks, agriculture, and related industries.

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The pails market value is expected to surpass US$ 1.91 Bn in 2022. One of the primary growth factors fuelling the demand for plastic pails market is their ability to meet various needs such as storage, transportation, and dispensing in many industries. For instance, in the chemical industry, pails are used as a container with an airtight lid that helps prevent spills during liquid product transportation.

The market therefore stands to benefit greatly from the agriculture sector since plastic pails are extremely compatible for storage of agricultural fertilizer due to their non-corrosive nature. Another factor fuelling the demand for pails is their use in professional painting jobs, where they can be used to safely transport heavy loads around a site.

Pail manufacturers are leveraging their in-house research and development capabilities to develop products that meet specific customer needs, such as smooth plastic pail surfaces and print-ability. This will allow brand owners to market their products by improving product attractiveness with increased storage capacity and longer shelf life.

Undoubtedly, manufactures’ demand for recyclable materials in packaging will increase in the years to come. Businesses are taking responsibility for sustainable growth, causing manufacturers opting for product offerings that are environment friendly and fulfil the packaging requirements. This is likely to boost the demand for pails in the years to come.

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  Key Takeaways from Pails market 

  Many sectors, such as chemical and pharmaceutical, seek lightweight, robust, and low-cost packaging materials for shipping solid and liquid bulk materials. This is expected to drive the pails market at 4.3% CAGR.

China is expected to dominate the overall pails market, with a market share of around 20% throughout the forecast period.
The India pails market is projected to register a CAGR of 6.1% during the forecast period.
Paints and coatings sector will remain dominant end user of pails.

Plastic pails sales are expected to contribute maximum revenue within the global pails market.

“As competition grows, market players are expected to focus on various strategies to gain competitive edge. Recent developments are indicating strategic collaborations and acquisitions as primary tactics undertaken by pail manufacturers to expand their regional footprint and portfolio,” says a lead analyst at FMI.

Paints & Coating is the Key Driver of the Pails market 

According to FMI, the primary factor encouraging sales within paint and coating industry is the surging demand for leakage-proof packaging of chemicals and paint materials. Also the focus on lightweight transportation is considerably high within the industry to lower transportation costs. This makes pails ideal packaging solution for the storage and transit of bulk materials, without adding much weight to transport.

The market for paint buckets is expanding at a rapid pace owing to rising architectural and infrastructure development in various nations. Focus on commercial construction activities, including the construction of malls, restaurants, and offices has resulted in increasing spending on paint. This is expected to create conducive environment for the growth of the market over the course of the forecast period.

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Pails Market Landscape

Greif Inc.,
Mauser Group N.V.,
Rieke Corporation,
Berry Global Inc.,
M&M Industries Inc.,
Involvement Packaging Ltd. ,
IPL Plastics, Inc.,
Plast Service Pack Company,
Jokey Plastic Wipperfürth GmbH, 
Corcoran Products,

Pro-Western Plastics Ltd, Involvement Packaging Ltd., Affordable Plastics Llc, ,Viscount Plastics Ltd, Northern Container, United States Plastic Corp., are some of the leading market players.

These companies are adopting mergers and acquisitions as their key strategy to gain competitive advantage within the market.

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Rigid Intermediate Bulk Containers (RIBC) Market size is projected to reach US$ 16.7 Bn in 2022, expanding at a steady 5.8% CAGR

The adoption of intermediate bulk containers offers improved performance and cost effectiveness as compared to traditional containers, which in turn is driving the expansion of the market. As per FMI, total sales in the RIBC market are projected to represent 72% of the global intermediate bulk container market worth US$ 23 Bn in 2022.

With a favorable demand outlook, Asia Pacific that are South and East Asia are projected to cumulatively account for above 50% of the total market share in 2022. The adoption of intermediate bulk containers offers improved performance and cost effectiveness as compared to traditional containers, which in turn is driving the expansion of the market.

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How Will The Introduction Of Smart Ribcs Influence Sales?

Smart RIBC containers comprise of the radio frequency identification (RFID) microchips placed inside the central plank to collect information in real time. It offers a solution for product tracking, asset tracking, and inventory management. In the coming years, the need for smart RIBCs is anticipated to increase as the supply chain becomes more automated.

Inclusion of RFID in RIBC also helps to prevent use of damaged containers and identify the operational life of containers. Owing to these benefits most of the end users are gradually adopting smart RIBCs over traditional one. Against this backdrop, sales are projected to increase year-over-year by 5.3% between 2021 to 2022.

How Is The Agrochemicals Industry Boosting Sales Of RIBC?

The chemical sector’s favorable outlook is projected to boost the global RIBC market. Rapid expansion of the food & beverage sector in North America is resulting in growing usage of safe agrochemicals for crop development and growth. These industries are using RIBCs for effective packaging and transportation, which in turn is providing impetus to sales.

Rigid IBCs are increasingly being used to transport hazardous and valuable chemicals without leakage. They can also be easily reinforced, preventing the escape of gases. When transporting hazardous substances, the United Nations (UN) has established severe standards that are in place worldwide. It is critical to use safe and long-lasting packaging. As a result, demand for single-use IBCs is expected to rise.

Category-Wise Insights

Which Capacity Segment Is Expected to Dominate the RIBC Market?

“Increasing Demand for RBIC Containers from the Chemicals and Food & Beverage Sectors Will Fuel Growth”

Based on the capacity, the standard capacity segment is forecast to create an incremental opportunity of US$ 11 Bn over the forecast period. These containers are used for packaging and shipping liquid and semi liquid goods.

Which End Use Segment is Expected to Lead the RIBC Market?

“Growing Adoption of RBIC Containers in the Chemical Sector Will Bode Well for the Market”

In terms of end use, demand in the chemical segment is projected to increase at a 6.3% CAGR over the forecast period. In chemical industry, sales of petrochemicals are expected to cross US$ 1 Trillion over the forecast period. RBIC containers are used to ship these products to various countries across the globe, which is expected to augment sales in this segment over the assessment period.

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Competitive Landscape

The market for rigid intermediate bulk containers is competitive and fragmented, with China accounting for a significant portion of global demand. Leading players operating in the market are investing in research and development to improve their product portfolios. They are also entering into mergers, acquisitions and collaborations to expand their global footprints. For instance:

In April 2021, Mauser Packaging Solutions acquired Global Tank Srl and expanded its presence in Italy. This will allow MPS to grow its industrial packaging product and service offerings.

Key Companies Profiled

Berry Global Inc.
Time Technoplast Ltd.
DS Smith Plc.
Mondi Group
Snyder Industries, Inc.

SCHÜTZ GmbH & Co. KGaA
Mauser Group B.V.
Hoover Ferguson Group
Nittel Halle GmbH

RIBC Market By Category

By Material:

Metal IBC
Carbon
Stainless
Composite IBC

By Capacity:

Standard
1040 litres (275 US gal)
1250 litres (330 US gal)
Customized Capacities

By End Use:

Industrial Chemicals
Hazardous Chemical
Non-Hazardous Chemical
Petroleum & lubricants

Paints, inks & dyes
Food & beverages
Construction
Pharmaceuticals
Others (Waste disposal/Recycling & silage, etc.)

By Region:

North America
Latin America
Europe
Middle east and Africa

East Asia
South Asia
Oceania

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Pallets Market is expected to reach a valuation of US$ 6.0 Bn in 2022, expanding at 5.6% CAGR over the forecast period

Growth is attributable to the increasing consumption of pallets in food & beverages, pharmaceuticals, automotive sector. Consumer inclination towards product safety, bulk load transportation with minimum efforts, and easy inventory tracking is expected to boost the market. The global pallets market is expected to reach a valuation of US$ 6.0 Bn in 2022, expanding at 5.6% CAGR over the forecast period.

Pallets are one of the most frequently used stacking bases, and they’re usually attached with a stretch wrap, pallet collar, adhesive, or other forms of stabilization. They are widely employed by a significant number of commercial goods makers and shippers around the world because of their characteristics.

Expansion of the e-commerce sector has greatly influenced the demand for pallets. Apart from this, manufacturers are integrating pallets with RFID tags, bar codes, and other connective technologies. This is expected to continue driving sales in the market over the forecast period.

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As the e-commerce business grows at a breakneck pace, the pallet market is likely to skyrocket. People’s interest in e-commerce platforms has grown as a result of the COVID-19 pandemic, particularly in underdeveloped nations where e-commerce is less widespread.

The rise of e-commerce has put pressure on supply chains to enhance shipping and logistics to better track the movement and cost of commodities leaving and entering the country. As online orders are typically smaller and more frequent, inventory management requires more assets. As a result, pallets are required for e-commerce-based logistics, thereby driving the growth in the market.

Furthermore, the pallet market is predicted to expand as the focus on sustainable packaging grows. In response to this, companies are resorting to recyclable solutions to reduce the quantity of wood wasted in the pallet manufacturing process.

“Adoption of lightweight and environment-friendly plastic pallets made from HDPE material that can withstand heavy loads and provide resistance from organic & inorganic chemicals is expected to help the market grow in the forthcoming years,” says an FMI analyst.

Key Takeaways:

By material type, sales of plastic pallets are projected to increase at a 6.5% CAGR over the forecast period.
Based on product type, the nesting pallets segment will account for 43% of the total market share through 2032.
In terms of end use, applications in the food & beverage sector will remain high.
The U.S. pallet packaging market will gain traction at a 3.8% CAGR over the forecast period.
Sales in the India pallet market are forecast to grow at a 5.8% CAGR over the assessment period.

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Competition Landscape

DS Smith Plc,
Smurfit Kappa Group,
Conitex Sonoco,
Oji Holdings Corporation,
Multi-wall Packaging,
KraftPal Technologies Ltd.,
Europal Packaging,
Tat Seng Packaging Group Ltd.,
Dopack, Interpak Industries Pte. Ltd.,
Pheng Hoon Honeycomb Paper Products Pte. Ltd.,
Mabuchi Singapore Pte Ltd.,
The Alternative Pallet Company Ltd., Kimmo (Pty) Ltd.,

Tri-Wall Holdings Limited, GreenLabel Packaging, Palletkraft Europe Ltd., Packprofil Sp. z.o.o.,

The Corrugated Pallet Company, Elsons International are some pallets players profiled by FMI.

Leading players operating in the global pallets market are investing in research and development to improve the product quality. Apart from that, players are focusing on production facility expansion to gain a competitive edge in the market.

For instance:
In December 2021, Tritz Pallet, a company that also offers pallet recycling and full-service pallet solutions, was bought by Kamps Inc., a pallet recycler and supplier.

Global Pallets Market by Category

By Material:

Plastic Pallets
Metal Pallets
Wood Pallets
Paper Pallets

By Product Type:

Stackable Pallets
Nestable Pallets
Collapsible Pallets

By End Use:

Food & Beverage
Pharmaceuticals
Cosmetics & Personal Care
Consumer Electronics
Engineering Products
Chemicals
Textile and Handcraft
Agriculture and Allied Industry
Building & Construction
Automotive

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Global sales of Bag Closure Clips are projected to exhibit a CAGR of 5.6% over the forecast period 2022-2029

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.

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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.

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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.

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.

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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)

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Home Infusion Therapy Devices Market is projected to total US$ 3.8 Billion by the end of 2031

According to a recent study by Future Market Insights (FMI), sales of home infusion therapy devices are expected to top US$ 2.0 Bn in 2021, growing at a CAGR of over 6.5% during the forecast period (2021-2031).

Home infusion therapy devices are used for the intravenous administration of medicines. It is commonly prescribed for patients with serious infections and specialized diseases when orally administered medicines are not or comparatively less effective.

Application of home infusion therapy devices is increasing with the rising number of surgeries conducted across the globe. Post-surgery pain management at home can be done with the help of home infusion therapy devices.

Besides this, rising healthcare expenditure and growing awareness regarding the risk and infection amidst the outbreak of COVID-19 is driving the demand of home infusion therapy devices.

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Key Takeaways from Home Infusion Therapy Devices Market Study

By product type, infusion system accessories will hold around 45% of value share globally.
Based on the application, antibiotic administration is leading with over 34% of the market share.
Home care settings sales will dominate the home infusion therapy devices, with a market share of 65% during the forecast period.
By region, the U.S. will dominate the global home infusion therapy devices market with a value share of around 37% during the forecast period.
Followed by North America, Europe will be the second-largest leading region, with a value share of 93.2% during the forecast period.
India is the dominant country in term of revenue for South Asia Home infusion therapy devices market, accounting for nearly 48% of market share in 2021.
China holds leading position in East Asia and is expected to account for nearly 52% of market share.

“Growing prevalence of chronic diseases such as diabetes and cancer in the midst of COVID-19 pandemic and high risk of infection across hospitals encouraged key players to invest in new product launches. This is expected to enable growth in the market in the coming years” says a FMI Analyst.

Who is Winning?

Key players are focusing on new product launches and approvals. Other growth strategies adopted by leading players include, agreements, and collaborations among key manufacturers. By focusing on these strategies, key players are expanding their geographic presence and strengthening their existing product portfolio.

For instance,

In June 2019, Baxter International Inc. announced that Myxredlin that is the first and only ready-to-use insulin for IV infusion get the US FDA approval.
In Jan 2019, Fresenius Kabi AG launched two colourful bags via white spiral cables to supply the nutrient solution for parenteral nutrition.
In April 2017, B. Braun Melsungen AG announced the launch of home infusion therapy App named Easypump® for healthcare professionals and patients.

The key market players profiled by FMI include Becton, Diciknson & Company, B.Braun Melsungen AG, Baxter International, Fresenius Kabi, Terumo Corporation, ICU Medical, Nipro Corporation, Smiths Medical, Micrel Medical Devices SA, Moog Inc., JMS Co.Ltd., Intera Oncology, and Others Top-up.

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Home Infusion Therapy Devices Market by Category By Product Type:

Disposable Elastomeric Pumps
Insulin Pumps
PCA Pumps
Electronic Ambulatory Pumps
Infusion System Accessories

By Applications:

Enteral Nutrition
Parenteral Nutrition
Chemotherapy
Antibiotic Administration
Others

By End User:

Home Care Settings
Long Term Care Centers

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Active Humidifier Devices Market is projected to surpass US$ 1.1 Billion by 2031

[295 pages] According to a recent study by Future Market Insights (FMI), the active humidifier devices market is expected to witness sluggish growth during the forecast period. The market is slated to grow from US$ 1.23 Bn in 2020 to over US$ 1.0 Bn by 2031. This reflects a cumulative CAGR of around -2.2% over the forecast period (2021-2031).

The current market scenario depicts a competitive landscape and is anticipated to witness significant growth during the forecast period. Growing respiratory disorders across the globe due to the outbreak of COVID -19 virus, created a sharp rise in demand for ventilators across the globe.

As humidifiers are used to provide humidified air to patients who require respiratory assistance, the demand for these devices increased during the pandemic, especially across India, China, and the U.S. Also, the outbreak of infectious diseases affecting respiratory systems, acceptance of high flow nasal cannula for oxygen therapy is anticipated to drive the sales of active humidifier devices.

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Growing geriatric population with respiratory disorders has improved the adoption of non-invasive ventilators. However, due to increasing severe cases of COVID-19 across the globe, need for invasive heated/electronic humidifier devices have surged the sales worldwide.

As per Future Market Insights, invasive ventilation segment is accounted for over 46.8% during 2021 and is expected to witness steady growth during the forecast period. With high prevalence of air borne diseases and respiratory diseases, demand for heated/electronic active humidifier devices is expected to witness substantial growth over the forecast period.

The heated/electronic active humidifier devices will hold over 56.5% of global market share through 2031, estimated by Future Market Insights. In past, the development and launch of technologically advanced new solutions to meet patients’ expanding respiratory needs is expected to bolster active humidifier devices market growth.

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Key Takeaways from Active Humidifier Devices Market Study

By product, heated/electronic humidifier devices accounted for the largest share of 56% in 2021 and are expected to continue to grow during the forecast period.
By age group, adult segment is expected to account for the largest share of 88% in 2021 of global active humidifier devices.
In terms of application, invasive ventilation is expected to account for the largest share of 47% during in 2021.
By end user, hospitals accounted for the largest share of 65% in 2021 and are expected to grow at the steady pace during the forecast period.
North America held the largest share of 28.7% in 2021 of the global active humidifier devices market. Emergence of new infectious diseases affecting respiratory systems, presence of leading manufacturers, and growing market consolidation activities has fueled the growth of the active humidifier devices market in North America.“Surging demand amid COVID-19 outbreak and acceptance of high flow nasal cannula therapy will drive the humidifier devices market over the next ten years,” says the FMI Analyst

Who is winning?

Some of the leading manufacturers of active humidifier devices market are focusing on product launches and expansion strategies such as collaboration and mergers with other key players to expand their customer base, thereby, improving their market presence.

In July 2021, Breas Medical and Dräger entered into an agreement, together, wherein, they will provide extended support for providing ventilation solutions into the U.S. long-term care facilities.
In July 2021, Koninklijke Philips N.V. announced the acquisition of Capsule Technologies, Inc. to expand its leadership in patient care management.
In April 2020, Vapotherm expanded its production capacity for high-flow nasal cannula systems, in response to the growing demand for high-flow nasal cannula systems, which are used for treating COVID -19 respiratory distress.
In May 2020, Inspired Medical’s Inspired O2FLO high flow respiratory humidifier has received Emergency Use Authorization (EUA) by U.S. FDA. This device will be available for emergency use in healthcare settings to treat patients with hypoxemia and other-acute respiratory symptoms. Additionally, O2FLO also meets homecare safety requirements which makes them safe for home use and also is IEC60601-11 compliant.

The key market players profiled by FMI include Teleflex Incorporated, Koninklijke Philips N.V., Fisher & Paykel, ResMed, Vapotherm Inc., Vincent Medical Ltd (Inspired Medical), Sumed (Salter Labs), WLAMed GmbH, Penlon Ltd., DEAS S.R.L., Beijing Aeonmed Co., Ltd., Flexicare (Group) Limited, GalMed Corporation, and Vadi Medical Technologies.

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Active Humidifier Devices by Category Product Type:

Heated/electronic Humidifiers
Bubble Humidifiers
Accessories

Age Group:

Adult
Paediatric
Neonates

Application:

Invasive Ventilation
Non-invasive Ventilation
- nCPAP (Nasal Continuous Positive Airway Pressure)
- Bubble CPAP (Bubble Continuous Positive Airway Pressure)
High Flow Oxygen Therapy

End User:

Hospitals
- Less than 100 Beds
- 100-300 Beds
- 300-500 Beds
- 500 Beds and More
Ambulatory Surgical Centers
Sleep Centres

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High Flow Oxygen Therapy Devices Market is projected to reach US$ 1.4 Billion by 2031

[250 Pages Report] The rising prevalence of acute respiratory failures (ARF) due to the COVID-19 outbreak, risk of community infection, increasing demand for high flow nasal cannula, and advancements in high Flow Oxygen Therapy Devices are some key factors contributing to the growth of the high flow oxygen therapy devices market.

According to a recent study by Future Market Insights (FMI), these factors have proven crucial at enabling growth in the high flow oxygen therapy devices market. Sales of high flow oxygen therapy devices are expected to top US$ 1.7 Bn in 2021, at a CAGR of -6.4% during 2021-2025 and CAGR of 1.4% during the forecast period (2025-2031).

Public health issues worldwide, including Acute Respiratory Failure (ARF), pneumonia, asthma, and interstitial lung disease, pose a significant socioeconomic burden on individuals and societies.

Presently, COVID-19 is the primary risk factor for ARF. COVID-19 symptoms such as low blood-oxygen level and pneumonia in patients increase the risk of ARFs. Because of the growing ageing population and increased exposure to risk factors, ARF and pneumonia are becoming more prominent problems across the world, which is fuelling the demand for high flow oxygen therapy devices.

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The World Health Organization (WHO) Child Health Epidemiology Reference Group estimates that the pneumonia resulted 105.7 million new cases in 2017; of these 13% were severe and needed immediate hospitalization.

Consistent rise in incidence of pneumonia will fuel the demand for high floe oxygen therapy devices through the forecast period. Indoor air pollution was a major risk factor that was estimated to have led to 29% of pneumonia deaths in 2017.

Outdoor air pollution was responsible for another 18% of all deaths. In addition, an increase of 81.1% in the number of pneumoconiosis cases were observed for both sexes from 1990 to 2017 worldwide. Thus, the growing burden of respiratory diseases along with the outbreak of COVID-19 across the world is expected to drive the high flow oxygen therapy devices market.

Key Takeaways from High Flow Oxygen Therapy Devices Market Study

Demand for heated humidifiers is expected to grow at -6.6% CAGR during 2021-2025 and 1.3% CAGR through 2025-2031, owing to the occurrence of the COVID-19 pandemic.
The acute respiratory failure segment accounted for a higher share of 90% among applications. This can be due to the rising COVID-19 cases that lead to acute respiratory failure in the infected patients and require non-invasive respiratory support.
500 Beds and Above Hospitals are projected to capture over 51% of the global market by 2031. This is attributed to the growing burden of respiratory diseases.
North America is the largest revenue-generating region for high flow oxygen therapy devices, with the U.S. accounting for nearly 96% of the regional market in 2031.
South Asia is the second most lucrative market with India accounting for over 58% of the share in 2031.
Japan holds the leading position in East Asia and is expected to account for over 42% of the market in 2031.

“Increasing funding for R&D activities aimed launching novel products and solutions and healthcare recognition and recommendation of high-flow nasal cannula oxygen therapy will continue creating growth opportunities for manufacturers through the assessment period, ending in 2031,” says the FMI analyst

Who is winning?

Some of the leading manufacturers of high flow oxygen therapy devices are focusing on product approvals and launch strategies for global expansion objectives, thereby, enhancing their market presence. The leading key players are also focusing on innovation and launching new technologies for increasing the efficiency of products.

In June 2020, Armstrong Medical introduced the second generation FD140i, an improved dual therapy flow driver with an easier transition from CPAP to HFOT.

In 2019, TherOx Company received approval for SuperSaturated Oxygen Therapy system from the U.S. Food and Drug Administration (FDA) to be one of the effective therapies for cardiovascular diseases.

The key market players covered by FMI include Draegerwerk AG & Co. KGaA, Teleflex Medical GmBH, Philips Respironics, Vapotherm, Inc., ResMed, Vyaire Medical, Inc., Fisher & Paykel Corporation Ltd., Armstrong Medical, Flexicare Medical, Hamilton Medical Inc., Intersurgical Inc., Inspired Medical, WILAMed GmBH, Besmed Health Business Corp, Shenzhen Micomme Medical Technology Development Co., Ltd, Shenyang RMS Medical Tech Co. Ltd. and BMC Medical Co., Ltd.

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Want more insights?

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global high flow oxygen therapy devices market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on high flow oxygen therapy devices segment based on the product (High Flow Nasal Cannulas, High Flow Oxygen Masks, Breathing Circuits, Heated Humidifiers and Accessories) Application (Pneumonia and Acute Respiratory Failure) End User (Less than 100 Beds Hospitals, 100-250 Beds Hospitals, 250-500 Beds Hospitals and 500 Beds and Above Hospitals) across seven major regions.

High Flow Oxygen Therapy Devices Market by Category Product:

High Flow Nasal Cannulas
High Flow Oxygen Masks
Breathing Circuits
Heated Humidifiers
Accessories

Application:

Pneumonia
Acute Respiratory Failure

End-User:

Less than 100 Beds Hospitals
100-250 Beds Hospitals
250-500 Beds Hospitals
500 Beds and Above Hospitals

For in-depth insights, Download a PDF Brochure – https://www.futuremarketinsights.com/reports/brochure/rep-gb-13794

Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East and Africa (MEA)

About FMI:

Contact:

Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
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