Bag Closures Market
Bag Closures Market: Bakery Sector to Create Multitude of Profitable Opportunities: Global Industry Analysis 2014-2018 and Opportunity Assessment 2019-2029
- 2019-04-25
- REP-GB-9488
- 32 Tables
- 92 Figures
- 208 pages
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An Incisive, In-depth Analysis on the Bag Closures Market
This study offers a comprehensive, 360 degree analysis on the Bag Closures market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Bag Closures market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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The global market for bag closure is estimated to be valued at around US$ 176.9 Mn in 2019.
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The global bag closure market is projected to expand at a CAGR of 5.6% during the forecast period 2019-2029.
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The plastic material segment in the bag closure market to account for the major market share, whereas the paper & paperboard segment is estimated to have a healthy CAGR of 7.2% during the forecast period.
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The growth in the paper & paperboard segment in the bag closure market is mainly attributed to the rapid growth in sustainable packaging.
Some of the Factors Influencing the Bag Closure Market
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Growing Bakery Market Set to Augment the Sales of Bag Closures
Despite numerous challenges, the bag closure market for bakery goods across the globe has risen modestly over the past five years. The demand for bakery products has gradually risen in the developing markets of North America as well as Europe, triggering manufacturers of bag closures to seek opportunities in higher-growth regions.
Bread has long been a staple of the American diet, and over the years a considerable shift in consumer preferences toward consumption of premium varieties of bread has led to increase in revenue in the overall bag closure market.
In addition to this, global disposable income levels have risen, and consumers have increasingly turned to low calorie, high-priced, premium baked goods, including organic and gluten-free options. Hence, keeping the above scenario in mind, the market for bag closure is likely to witness healthy growth over the forecast period.
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Growing Pressure on Food Companies to Adopt Environment-friendly Seals and Bag Closures
The increase in demand for plastic packaging such as bags, wraps, caps, closures, etc., have detrimental effects on the environment. The increased demand of plastic across the globe and its resistance to biodegradation is the main concern for everyone which tends to de-accelerate the bag closure market globally.
Renowned processed food brands/companies are actively planning to eliminate harmful plastic packaging products for their food packaging needs, which generates opportunity for paper bag closures. This could be attributed to the increasing pressure from government and non-government organizations to reduce plastic waste globally.
Leading fast-food companies use millions of tonnes of single-use plastic food bags & wraps, which create harmful impact on the environment. That is why, most of these companies are planning to offer their food products packaged in sustainable packaging such as paper bag closures. Packaging companies are also shifting their focus on offering efficient and sustainable packaging solutions in order to leverage opportunities generated in the bag closures market.
Bag Closure Market Structure Analysis
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Vendor landscape remains highly splintered in the global bag closure market wherein Tier 1 companies hold more than 25% revenue share.
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Key players in the bag closure market are trying to expand their existing manufacturing facilities.
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Schutte bagclosures B.V., one of the important bag closure manufacturers, announced expansion by establishing a modern facility in Uden, Netherlands. Meanwhile, the company also expanded market presence in Germany, France, and Italy.
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In 2018, Zhenjiang Hongda Commodity Co., Ltd. expanded its manufacturing capacity, and invested in technology to develop and innovate new products. The company is focused on expansion by continuously innovating its existing product portfolio and improving its existing technology. The company recently started manufacturing bag closures such as paper twist ties, which are eco-friendly and more sustainable as compared to plastic twist ties.
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Other significant manufacturers in the bag closure market are also focusing on participating in various tradeshows in order to increase the visibility of its products across the globe.
Report Description
This report provides a forecast analysis of the global bag closure market. It provides historical data of 2014-2018, and forecast for 2019-2029 in terms of market revenue (US$ Mn) and volume (‘000 Cases). The report on the bag closure market includes market outlook and macroeconomic indicators on the food & nonfood end-use industry. Moreover, it also includes market dynamics such as drivers, recent trends, restraints, and opportunities associated with the bag closure market. The bag closure market report includes the study of market prospects for the manufacturers of bag closures, and comprises an exhaustive value chain analysis.
On the basis of product, the global bag closure market can be segmented as clips and twist ties. Further, the clips segment is subdivided into clip bands and multi-clips. The twist ties augment is further segmented into twist bands / strips and tin ties.
On the basis of material, the global bag closure market can be segmented as plastic, paper & paperboard, and metal. Further, the plastic segment is subdivided into polyethylene, polyester, polypropylene, polyvinyl chloride, and PET.
To ascertain the size of the bag closure market in terms of value and volume, revenue generated by key clip and twist tie manufacturers and their respective manufacturing capacities are taken into consideration. The forecast presented here assesses the total revenue generated by value across the bag closure market. Also, we form the basis of how the bag closure market is expected to develop in the future by taking into account the opinions of industry experts.
Given the characteristics of the bag closure market, we triangulated the outcome on the basis of three different types of analysis based on the supply side, downstream industry demand, and economic envelope in the bag closure market. In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze the bag closure market based on key parameters to understand the predictability of the bag closure market and identify the right opportunities across the market.
The bag closure market report is compiled under different chapters; overview of each chapter is given as follows:
Chapter 1: Executive Summary
It includes the gist of the report, highlighting the key insights of the bag closure market.
This section also includes FMI analysis and recommendations pertaining to the bag closure market. It also provides a unique analysis framework through the wheel of opportunity, which enables readers to evaluate the most lucrative segment
Chapter 2: Market Introduction
It includes definition of the global bag closure market and related market taxonomy, providing users a brief overview of the research report.
Chapter 3: Market Background
It includes a comprehensive analysis on the interplay of the key factors influencing the global bag closure market. This provide readers with in-depth value chain analysis and profitability margin, along with the key trends pertaining to the bag closure market, which will help readers to make informed decisions. Key drivers and restraints are also given in the report to understand the current market scenario.
Chapter 4: Market Forecast
It tracks the bag closure market scenario, with key inferences drawn from historical data and future prospects. Moreover, the historic data and forecast is supported by key insights and rationales, including Y-o-Y, opportunity assessment, and growth rate.
Chapter 5, 6 & 7: Segmentation
These chapters include the bag closure market analysis associated segments – material type, product type, and end use, respectively. It covers the scope of the report with key segmentations, along with historical and forecast analysis.
Chapter 8: Analysis by Region
This chapter contains comprehensive revenue (US$ Mn) and volume (‘000 cases) analysis on the global bag closure market by region. Pricing analysis for the respective market is highlighted for each region. Average selling price is taken by material used in manufacturing of clips and twist ties used for bag closures. The report also includes intensity mapping in each region to help readers to recognize key manufacturers and distributors operating in the target region, and the impact of their sales and distribution.
Chapter 9: North America Market Analysis
This chapter contains comprehensive revenue (US$ Mn) and volume (‘000 cases) analysis on the North America bag closure market. North America analysis is presented for the U.S. and Canada
Chapter 10: Latin America Market Analysis
This chapter contains comprehensive revenue (US$ Mn) and volume (‘000 Cases) analysis on the Latin America bag closure market. The analysis is presented for key countries such as Brazil, Mexico, Argentina, and the Rest of Latin America.
Chapter 11: Europe Market Analysis
This chapter contains comprehensive revenue (US$ Mn) and volume (‘000 Cases) analysis on the Europe bag closure market. Europe analysis is presented for Germany, Italy, France, U.K., Spain, Ukraine, Poland, Russia, etc.
Chapter 12: Oceania Market Analysis
This chapter contains comprehensive revenue (US$ Mn) and volume (‘000 Cases) analysis on the Oceania bag closure market. Oceania analysis is presented for Australia and New Zealand.
Chapter 13: MEA Market Analysis
This chapter contains comprehensive revenue (US$ Mn) and volume (‘000 Cases) analysis on the MEA bag closure market. MEA analysis is presented for GCC Countries, North Africa, Turkey, South Africa, and the Rest of MEA.
Chapter 14: South Asia Market Analysis
This chapter contains comprehensive revenue (US$ Mn) and volume (‘000 Cases) analysis on the South Asia bag closure market. South Asia analysis is presented for India, Indonesia, Thailand, Indonesia, Malaysia, and the Rest of South Asia.
Chapter 15: East Asia Market Analysis
This chapter contains comprehensive revenue (US$ Mn) and volume (‘000 Cases) analysis on the East Asia bag closure market. East Asia analysis is presented for China, South Korea, and Japan.
Chapter 16: Market Structure Analysis
This chapter provides a comprehensive analysis on the market structure of manufacturers operating in the global bag closure market. It provides the tier analysis of top players operating in the global bag closure market.
Chapter 17: Competition Analysis
This chapter comprises a bag closure market dashboard of key manufacturers with their comprehensive company profiles, which includes revenue, product portfolio, market share, and SWOT analysis, along with key market strategies.
The major players operating in the global bag closure market are Plas-Ties, Co., Kwik Lok Corporation, Schutte Bagclosures B.V., Bedford Industries, Inc., Multipack B.V.B.A., International Plastics Inc., Inno Bag Closure, Truseal (Pty) Ltd., Vikela Aluvin Pty Ltd., ITW Envopak Limited, T & T Industries Inc., Zhenjiang Hongda Commodity Co., Ltd., AndFel Corporation, Detmold Group, A. Rifkin Co., and HSA International Group.
Chapter 18: Research Methodology
This section includes a detailed description of the robust methodology and approach to arrive at market size and related projections. The research methodology for this report is based on a 3-dimensional model. We conducted around 45–60 min duration detailed interviews with bag closure manufacturers, end-user companies, and other channel partners. Apart from this, we also collected market feedback from industry experts.
Chapter 19: Assumptions & Acronyms
This section includes a list of all the assumptions and acronyms used in the bag closure market report.
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