Bag Closures Market Size Worth $304.44 Million By 2032 | CAGR: 5.03%

Bag Closures Market Size Worth 304.44 Million By 2032 | CAGR: 5.03%


The global bag closures market size is expected to reach USD 304.44 million by 2032, according to a new study by Polaris Market Research. The report “Bag Closures Market Share, Size, Trends, Industry Analysis Report, By Product Type (Simple Bag Closure Clips, Mechanical Bag Closure Clips); By End Use; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Developing countries like India and China are playing a significant role in fueling the growth of the market. E-commerce activities in these countries are witnessing a significant surge. With the increasing penetration of internet access and the growing popularity of online shopping platforms, the demand for packaging solutions, including bag closures, has risen significantly. According to Invest India, the Indian e-commerce market is projected to reach a staggering annual gross merchandise value of USD 350 billion by 2030 and an estimated 907 million internet users by 2023. The exponential growth of the Indian e-commerce sector translates into higher packaging requirements. Bag closures play a vital role in ensuring the safe and secure transportation of products to customers. As the e-commerce industry expands, there is a growing need for reliable and efficient bag closures to meet the packaging demands.

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The growing demand for resealable bags in various industries, such as food and beverage, household products, and personal care, is fueling the adoption of this market. According to a brand value study featured in Flexible Packaging Magazine, re-sealability has emerged as a significant driver of growth in the bag closure market. The study revealed that re-sealability ranked as the second most important factor for consumers when it comes to flexible packaging.

Additionally, the study found that consumers are willing to pay a premium of up to 14% for products packaged in resealable bags. Manufacturers in the bag closure market are investing in research and development to introduce advanced resealable options that meet the evolving needs of consumers. For instance, Tesa introduced resealable bag closure with single -sided solutions. As a result, the availability and popularity of resealable bag closures are driving the overall growth of the global market.

Bag Closures Market Report Highlights

  • Simple Bag Closure Clips segment is anticipated to witness faster growth in the coming years due to the convenience, versatility, and cost-effectiveness.
  • Bag Closure Clips for Food Industry segment is accounted for the larger market share owing to the emphasis on food safety and preservation, compliance with regulations & convenience of use.
  • APAC is projected to register a higher growth rate in the study period owing to growing demand for the packaging industry.
  • North America is expected to grow larger revenue share owing to the presence of efficient packaging requirements for food and beverage sector.
  • The global players include Bedford Industries, Kwik Lok, Schutte Bagclosures, ITW Envopak, Plas-Ties, Felins USA, Autobag, Aplix, GripPack, VELCRO Brand, Clippsafe, MAXPACK & ABA Packaging.

Polaris Market Research has segmented the bag closures market report based on product, end use and region:

Bag Closures, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Simple Bag Closure Clips
  • Mechanical Bag Closure Clips

Bag Closures, End Use Outlook (Revenue - USD Billion, 2019 - 2032)

  • Bag Closure Clips for Food Industry
    • Bakery
    • Fresh Produce
  • Bag Closures Clips for Medical & Other Industries

Bag Closures, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
    • U.S.
    • Canada
    • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

Bag Closures Market Report Scope

Report Attributes

Details

Market size value in 2023

USD 195.60 million

Revenue forecast in 2032

USD 304.26 million

CAGR

5.03% from 2023 - 2032

Base year

2022

Historical data

2019 - 2021

Forecast period

2023 - 2032

Quantitative units

Revenue in USD million/billion and CAGR from 2023 to 2032

Segments covered

By Type, By End Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

Bedford Industries, Kwik Lok, Schutte Bagclosures, ITW Envopak, Plas-Ties, Felins USA, Autobag, Aplix, GripPack, VELCRO Brand, Clippsafe, ULINE, Presto Products Company, Hi-Tech Bag Sealing Machines, Roplast Industries, Traco Packaging, Plastic Buckles & Ties, Securistrap, MAXPACK & ABA Packaging.

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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