Wicketed Bags Market
Wicketed Bags Market (Material: Non Bio-degradable and Bio-degradable; and Application: Retail & Consumer, Institutional, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2028
Press Release :
Expert Teams Ensure Business Continuity amidst COVID-19
The coronavirus crisis continues to loom over the global society, economy, and various end markets. Companies in the wicketed bags market such as the Spectrum Plastics Group (SPG) is addressing this situation by establishing COVID-19 Response Teams to develop comprehensive action plans for ensuring business continuity. These plans are making manufacturers prepared for the uncertainties in demand and supply whilst complying with guidelines issued by the government institutions.
In order to adhere with the guidelines issued by the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC), manufacturers in the wicketed bags market are adopting protective measures across global operations for production and packaging of goods. Potential COVID-19 vaccines are anticipated to reopen manufacturing facilities and bring business activities to normalcy.
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Antistatic Systems Overcome Issues of Static Charge to Optimize Production Process
Wicketed bags are being extensively used in food, textile, and pharmaceutical applications. However, during the bag making process, many problems are caused due to static charges. Hence, manufacturers in the wicketed bags market are investing in antistatic systems for slow machines. In case of high-speed machines, manufacturers are making use of static control systems to optimize the production process.
Companies in the wicketed bags market are focusing on innovations to boost their credibility credentials. Mondi Group— a specialist in paper and packaging solutions has introduced its paper based EcoWicketBag, which is replacing plastic materials. Consumers have become conscious about growing plastic waste in the environment.
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Automated Robotic Bag Making Processes Reduce Downtime, Offer Product Consistency
In order to gain a competitive edge in the industry, manufacturers in the wicketed bags market are investing in state-of-the-art extrusion lines to gain proficiency in automated robotic bag making capabilities. For instance, ABX Innovative Packaging Solutions— a packaging company in Charlotte, North Carolina, is gaining recognition for its robust extrusion lines that offer unmatched machinability to reduce downtime during production processes.
Companies in the wicketed bags market are increasing their production capabilities in compression bags, bakery bags, and wipes refill bags to capitalize on value grab opportunities. They are utilizing automated bag making processes to improve operational efficiencies and offer consistency in product units.
Puncture Resistant Materials in Wicketed Bags for Bakery Products Reduce Waste
Different color graphics in wicketed bags are delivering increased shelf appeal, resulting in high product uptake. Apart from food and pharmaceutical products, manufacturers in the wicketed bags market are leveraging business opportunities in personal care products, such as wipes and on-the-go travel packs. They are providing tailored solutions with cost effective peel and reseal closures to create imaginative packaging for brands.
Companies in the wicketed bags market are bolstering their output capacities in high impact flexographic printing to increase product visibility at retail shelves and hypermarkets. Manufacturers are making use of puncture resistant materials for the packaging of bakery products in order to reduce waste at grocery stores.
Integrated Leisure Cores, Customized Printing Help Increase Retail Product Uptake
Customized printing is emerging as a recurring trend in the wicketed bags market. Packaging manufacturers are harnessing growth opportunities in feminine hygiene products, baby diapers, and meat packaging to broaden their revenue streams. Guang Zhou Novel Packaging— a manufacturer of plastic and laminated coated bags, is enabling easy dispensing in wicketed bags by integrating thin wires in units. Stakeholders in the food packaging industry are investing in automatic packaging equipment to achieve maximum efficiency during processes.
Manufacturers in the wicketed bags market are offering services in both clear wicketed bags as well as customized printing for products. They are increasing efforts to integrate leisure cores for easy opening and are adding a plastic handle for easy carrying of products.
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Due to rising concerns about hygiene and sanitization, there has been a significant spike in the demand for plastic wicketed bags amidst the COVID-19 pandemic. Latest bags converting technologies are opening up several revenue opportunities for companies in the wicketed bags market. However, low adherence of consumers and manufacturers to recycling and growing plastic waste is impacting market growth. Hence, manufacturers should introduce paper wicketed bags to minimize plastic waste. They should increase awareness about the reuse of plastic wickets in their production processes, and encourage consumers to return their plastic wickets to authorities responsible for the collection.
Wicketed Bags Market: Overview
- According to Transparency Market Research’s latest market report on the wicketed bags market for the historical period 2015-2019 and forecast period 2020-2028, rising demand for flexible packaging over rigid and aesthetic dispensing of the food items via transparent packaging is projected to drive the market
- Globally, the revenue generated by the wicketed bags market is projected to expand at a CAGR of 4.8%, in terms of value, during the forecast period
Sustainability Offered by Flexible Packaging Driving Wicketed Bags Market
- There are a number of advantages over conventional packaging materials, as chemical properties possessed by flexible packings offer durability, added with sustainability. Furthermore, less raw material is also consumed while manufacturing the flexible packaging formats, their reduction in energy usage, relatively low waste produced, and lower carbon footprint.
- Globally, governments are focusing on framing strict policies regarding recyclability and reusability of plastic materials. Imposition of such laws is expected to bolster the demand for sustainable flexible packaging in the future. The PET plastic is considered to be more sustainable as compared to other plastics and therefore, wicketed bags made of PET are expected to expand at a CAGR of 4.3% by 2028.
End Users Switching to Bio-Based Material from Traditional Packaging Materials
- With the shift of using bio-based materials for the manufacturing of wicketed bags instead of toxic plastic is creating new growth opportunities in the market. Increasing government regulations and environment concerns have unlocked new doors for the manufacturers of wicketed bags to strive ahead toward innovation.
- Many manufacturers have already launched sustainable wicketed bags; however, rest of the players are undergoing rigorous R&D to meet sustainability needs.
- Manufacturers such as International Plastics Inc. and Friesen Plastics Inc. are eco-friendly wicketed bagss with FDA approved virgin raw materials added with the Global Food Safety Initiative (GSFI) benchmarking and compliant with AQMD standards
- Indian manufacturer Ashok Polymers are manufacturing wicketed bagss made of oxo biodegradable material
Durable, Tear Resistant Properties Fueling Wicketed Bags Market Growth
- Flexible packaging is widely preferred for properties such as cost effectiveness, durability, and low weight. Flexible packaging occupy smaller spaces during packaging and accommodation on shelves. Wicketed bags enhance the aesthetic appeal of a product and can augment product dispensing, along with durable packaging. Thus, an increasing inclination of product manufacturers toward the adoption of flexible packaging solutions over rigid packaging in primary packaging is observed.
- Furthermore, wicketed bags are customizable and can be manufactured as per industry requirement. Flexibility in production allows stretch films to be one of the most sought after packaging solutions in retail & consumer, institutional, and industrial sectors. Moreover, wicketed bags also provide high puncture and tear resistant, and therefore offer high reliability when it comes to food packaging. All these factors are likely to accelerate the demand for wicketed bags among industry players.
Wicketed Bags Market: Key Findings
- Among various applications, the retail & consumer segment is estimated to account for more than 70% of the market share by the end of 2028. There is a high demand for wicketed bags in the food & beverages industry, as they promise to offer various closure options, aesthetic dispensing, and are consumer-friendly.
- The non-biodegradable plastic material segment of the wicketed bags market accounts for majority of the market share, in terms of value. Polyethylene (PE) plastics are widely used, as they offer clear packaging added with barrier properties. The segment is projected to expand by 1.4x its current value, creating an incremental opportunity of nearly US$ 133.4 Mn.
- Among various plastics, PET plastic fulfils the sustainable criteria as compared to others. Therefore, the consumption of PET-based wicketed bags is expected to reach over 3.2 million units by the end of 2028. This can also be attributed to the favorable physical properties and cost economical nature of PET.
- Asia Pacific is expected to outbid other regions in the global wicketed bags market. This market is forecast to create maximum incremental opportunity of US$ 241 Mn over the next eight years and witness a gain of 260bps of current market share by 2028.
Wicketed Bags Market: Competition Landscape
- The global wicketed bags market is highly fragmented in nature. The large portion of market share is held by domestic and local market players. Some of the key players operating in the global wicketed bags market are
- Berry Global Group Inc.
- Bischof + Klein
- Mondi Plc
- Supreme Plastics Group
- PAC Worldwide Corporation
- Sonoco Products Company.
- LPS Industries Inc.
- St. John Packaging
- Uflex Ltd.
- Coveris Holdings S.A.
- The tier structure is formulated on the basis of segmental revenue and market share of the company. As per the tier structure, Berry Global Inc., Mondi Plc, and Sonoco Products Company are the Tier 1 players in the wicketed bags market. These players are focusing on the expansion of their production capacity, acquiring local players to strengthen their customer base and enhancing their product quality to increase its footprint across the globe. Tier 2 players include Coveris, St. John Packaging and other market players.
COVID–19 to Augment Demand for Wicketed Bags
- The advent of the ongoing COVID-19 pandemic is expected to have a positive impact on the global wicketed bags market
- The COVID-19 pandemic has led to an increase in food & beverages sales, as both consumers and businesses practice social distancing to limit contact by choosing for online delivery. This is anticipated to increase the demand for wicketed bags.
- Moreover, increased consumer awareness and need for hygiene has grown dramatically after the spread of the virus. Manufactures are focusing on using packaging materials, which have protective properties that offer a barrier to shield products from contaminants during transit to ensure the virus is minimally viable on the packaging surface. The pandemic has resulted in isolation of consumers at home where a brand hardly has any physical connection with the consumer.
- However, some of the factors such as transit of product, supply chain, raw material availability, and workers’ isolation led to slowdown of manufacturing activities
Wicketed Bags Market – Scope of the Report
Transparency Market Research (TMR) started a new study on the global wicketed bags market, providing forecast for the period of 2020-2028. In the study, growth opportunity for the wicketed bags market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the wicketed bags market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key Questions Answered in TMR’s Wicketed Bags Market Report
- What will be the impact of COVID-19 on wicketed bags market?
- Which end users will be the most lucrative for wicketed bags?
- What will be market size for wicketed bags by the end of 2028?
- Which is the most preferred material for wicketed bags in the global market?
- Which region will remain most lucrative for market growth?
- Which are the top five countries of wicketed bags market?
- Who are major key players in the wicketed bags market?
Key indicators associated with the wicketed bags market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the global wicketed wags market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users have been incorporated in the global market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of wicketed bags. Furthermore, forecast factors and forecast scenarios of the wicketed bags market have been covered in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the wicketed bags market are provided on the basis of material, application, and region.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments have been provided in the report. The wicketed bags market has been analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the wicketed bags market, in tandem with the dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of wicketed bags manufacturers by leveraging an intensity map. It also highlights key end users for wicketed bags.
The report includes company overview of key players. Some of the key companies profiled in the wicketed bags market report include International Plastics Inc., Berry Global Group Inc., Bischof + Klein, Mondi Plc, Supreme Plastics Group, PAC Worldwide Corporation, Sonoco Products Company., LPS Industries Inc., St. John Packaging, Uflex Ltd. and Coveris Holdings S.A.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the wicketed bags market for the study evaluation period. The TMR report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the wicketed bags market. The report has undergone a cross-validation by in-house professionals to make the wicketed bags market report one-of-its-kind, with the highest credibility.
Wicketed Bags Market – Segmentation
The global wicketed bags market has been divided on the basis of material, application, and region. Each of these segments are analyzed to provide readers with holistic view of the market.