Packaging has become a dynamic component of modern life due to the ease of transportation, storage and inclination of the consumer towards a wide usage of bags. Moreover, food products, health supplements and electronic components are some of the things that have witnessed improvements regarding demand over the last few years and are more easily available due to an effective packaging solution. Wicketed bag is the most commonly used bag type for flexible packaging. For manual packaging, as well as for many types of semi-automatic and fully automatic wicketed bag machines are being used in hypermarkets and supermarkets. All types of product can be packed in wicketed bags from fresh food, frozen food and pet food to sanitary towels. Transformation in retail business industry structure is attributed to changing lifestyle and increasing per capita spending across the globe.
Wicketed Bag Market- Market Segmentation:
The global wicketed bag market can be segmented on the basis of material type, packaging type, closure type, end-use and by region. On the basis of material type wicketed bag market can be segmented into Polyethylene (PE), Polyvinylidenchloride (PVDC), Cast Polypropylene (CPP), Polyvinylchloride (PVC), Polyester (PET), and Polyamide (PA). On the basis of packaging type wicketed bag market can be segmented into flexible packaging and semi-rigid packaging. On the basis of closure type wicketed bag market can be segmented into re-closable bags and non-re-closable bags. On the basis of application, wicketed bag has been segmented into food, pharmaceuticals, personal care & cosmetic products, industrial goods, commercial goods, and others. On the basis of region, the global wicketed bag has been segmented into North America, Latin America, Europe, Asia Pacific (APAC) and Middle East & Africa (MEA).
Wicketed Bag Market - Market Dynamics:
Growth in demand for wicketed bag market is expected to grow strongly for several reasons. Robust consumption of convenience and processed food has been the major growth drivers of the global wicketed bag market. Transformation in retail business industry structure is attributed to changing lifestyle and increasing per capita spending across the globe. However, government regulation towards the usage of plastic is likely to hamper the growth of wicketed bags market. Moreover, the high cost of wicketed bag material is considered as another restraining factor towards the growth of wicketed bag market. Furthermore, the usage of heat seal bags is expected to hinder the growth of wicketed bags market due to its non-reusable nature.
Wicketed Bag Market- Regional Outlook
Wicketed bags has been segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. Among these region, North America and Europe are expected to collectively dominate the market throughout the forecast period due to huge retail industry. However, many multinational packaging companies are ramping up their investments in Asia Pacific to tap the growing needs of supermarkets and hypermarkets in the region and government support towards boosting manufacturing ecosystem. Furthermore, Asia Pacific rise in prominence has resulted in organizational changes – many new packaging entrants has emerged over the last few years and many leading companies has set up their retail outlet in the region. Asia Pacific is expected to be primarily driven by China, Japan and India. Latin America and Middle East & Africa are expected to witness slow and steady growth over the forecast period. In Latin America, Brazil and Mexico are expected to create market opportunities for companies involved in intravenous product packaging.
Wicketed Bag Market- Major Players:
Some of the major players identified across the globe in the wicketed bags market are are Saitech Inc, Texwrap Packaging Systems, Ballore, Berry Plastics, Arpac LLC, Shrinkwrap Machinery Co. Ltd, Yorkshire Packaging Systems, and Extreme Packaging Machinery, Suzhou Huiguo Plastic Co., Ltd., Xiamen Xinhuaguan Plastic Technology Co., Ltd., Shenzhen Color Hoyo Paper & Plastic Production, Zhaoqing Litat Packaging Material Co., Ltd., Dongguan OK Packaging Manufacturing Co., Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.