In line with Future Market Insights (FMI) research, the global resealable packaging bags market is poised for substantial growth in the projected period. In 2023, it is expected to reach a value of US$ 2.3 billion and is forecasted to continue its expansion, showcasing a robust compound annual growth rate (CAGR) of 5.3%, ultimately reaching an impressive US$ 3.9 billion by 2033. This trajectory underscores the significance of resealable packaging in the contemporary market landscape.
One key indicator of the market’s strength is the imminent consolidation of the top 5 companies, projected to collectively secure a substantial 10-15% market share by the end of 2022. This reflects the competitiveness and potential profitability within the resealable packaging industry.
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Within the materials segment, plastic emerges as the dominant player, owing to its wide availability and versatility. The plastic segment is expected to grow significantly, expanding to 1.6 times its current value from 2023 to 2033. This attests to the enduring appeal of plastic in packaging applications.
The revenue generated from the resealable packaging bags market reached US$ 2.2 billion in 2022, with the demand escalating across various end-user industries. Fueled by this demand, the market is on track to reach an impressive US$ 3.9 billion by 2033, a growth rate driven by a CAGR of 5.3%. This market growth presents a substantial opportunity, with an absolute incremental growth projection of US$ 1.7 billion from 2023 to 2033.
The food industry, which experiences constant change and innovation, is a prominent driver of the resealable packaging bags market, offering abundant opportunities. During the forecast period, this market is poised to expand to 1.8 times its current value, reflecting a promising outlook and reinforcing the pivotal role of resealable packaging in a dynamic and evolving packaging landscape.
In its upcoming business report, FMI details the historical and current scenarios of the global Resealable Packaging Bags Market in terms of production, consumption, volume and value. This report studies the market into different segments, regions and players based on demand patterns and growth prospects.
The vital information and forecasting statistics covered in the Resealable Packaging Bags market report provide both established and emerging market players with the insights they need to formulate long-term strategies and maintain business continuity during crises such as the ongoing COVID-19 pandemic.
Key Points:
1. The resealable packaging market set to reach $3.9 billion by 2033 with a 5.3% CAGR, based on Future Market Insights research.
2. Top 5 companies expected to capture 10-15% of the market share by the end of 2022, indicating a competitive landscape.
3. Plastic material dominates the resealable packaging segment, projected to grow 1.6 times its value from 2023 to 2033.
4. Market revenue reached $2.2 billion in 2022, driven by growing demand across various industries.
5. The food industry leads the demand for resealable packaging, with the market anticipated to expand 1.8 times its current value during the forecast period, offering substantial growth opportunities.
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Market Segmentation:
On the basis of the different types:
- zipper
- pull tab
- drawstring
- strip
- seal
- cross tie
- flap
- movie
- zip up
- seal tape
- screw cap
On the basis of the material:
- biodegradable film
- polyethylene
- polyester
- polypropylene
- pressure sensitive tape
- plastic
- aluminum
Key Companies Profiled
- Mondi PLC
- Amcor
- Polypouch Ltd.
- Novolex
- Pouch Direct Pty. Ltd.
- Universal Plastic Bags
- C-P Flexible Packaging
- Universal Flexible Packaging Ltd.
- Zip-Pak
- Flexico
- Bischof + Klein SE & Co. KG
- Presto products company
- Polymer Packaging, Inc.
- Sealstrip corporation
- D&M Enterprises dba Custom Poly Packaging
- Diversified plastics & packaging, Inc.
- Connover packaging
- Tobe packaging
- Brentapac International Pte Ltd
- Tekpak packaging
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Analysis of COVID-19 Impact on Resealable Packaging Bags Market
The recent outbreak of COVID-19 has negatively impacted various markets in the packaging industry, and the resealable packaging bag market is no exception. While ‘essential’ items continued to record strong sales, demand for non-essential items plummeted.
In response to government action, particularly social distancing norms and stay-at-home orders, companies operating in the resealable packaging bag market have stopped production. Additionally, movement restrictions and supply chain disruptions have created a logistics nightmare for market participants, resulting in severe product shortages in global markets.
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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