The global packaging market is distinguished by product innovation that promotes ease and comfort in dispensing, usage and disposal of consumer goods. Moreover, bag closures and seals are packaging solutions made of more inexpensive materials with simple yet practical designs for reclosing or sealing flexible bags and are broadly used for food applications for sealing products such as baked foods & confectionery, powdered tea & coffee, etc. In addition, manufacturers of bag closures and seals supply commodities with the additional functionality of serving as a label or a tag to display product & manufacturers’ information.0
Moreover, the demand for a product is subjected to its visibility among the target customer group. A product such as a bag closure was out of retail customer reach, and only with the penetration of organized retail, niche and unique products such as bag closures came to the fore. This shift has been recognized for a large variety of products, including bag closures. An underlying factor is that e-Commerce platforms have emerged from purchase points to shopping platforms. The customer continues to explore and experiment with new products; resultantly, products like bag closure gets into mainstream customer markets.
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Market Dynamics
Sales of bag closures are intimately associated with the demand for reusable packaged food products, among which bakery and confectionery items top the list. Flexible packaging for bread processing is the leading bread clip user, which indeed runs into millions daily. Thus, the demand for these clips is expected to remain steady as sales of bakery products continue to reflect above-average consumption patterns. The trend is anticipated to continue in the second half of 2020. In addition to bread, the increasing number of cafes and bakery chains across the globe have also spiked the demand for clips and twist ties required for the effective closure of coffee, tea, and other products. According to industry analysis, in 2020, rolls and fresh bread were the leading bakery products in the U.S, generating approx.
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Segment Analysis
The increasing public outcry against the plastic debris in landfills has seriously pressurized packaging companies to consider their solutions. This has percolated down to basic break loaf clips, security ties, and twist ties. Against this backdrop, the demand is slowly shifting to twist ties that sandwich a metal wire between paper. This malleability and facility with which it can shape or wound around the product have won it significant momentum. Today, several confectioners use these environment-friendly twist ties to pack chocolates, bread, cookies, and other items. In addition, growing investments in developing sustainable packaging solutions are projected to make manufacturers shift their focus from plastic use to a more biodegradable material.
Competitive Landscape
The bag closures market is fragmented with the presence of regional and global players. The competitive contour lies with the increase in the regional company and growing investment in upstream application. Kwik Lok Corporation, Schutte bagclosures B.V., Bedford Industries Inc., Multi-Pack Solutions LLC, Plas-Ties Co., International Plastics Inc., AndFel Corp., Detmold Group, GBE Product Packaging, ITW Envopak are the major player in the packaging market. The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the bag closures market globally.
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