The global wicketed bags market is expected to grow at a CAGR of 4.7% during the forecast period 2021 to 2028, rising demand for flexible packaging over rigid and aesthetic dispensing of the food items via transparent packaging is projected to drive the market.
The retail & consumer segment is likely to create an incremental opportunity of more than US$ 517 Mn between 2021 and 2028. The wicketed bags is highly demanded in the food & beverages industry.
Wicketed bags are gaining significant traction nowadays due to its cost-effectiveness and more efficiency. Many of the end users such as retail, institutional, and industrial are switching to use these bags as a packaging solution, as these bags have high yield and tear resistance. Additionally, waterproof packaging is a major concern among many end users for ensuring their product safety and shelf life. Wickets provided in bags allow packaging operator to transfer product more efficiently from the worktable to the plastic bags and then to follow sealing operation. This increases speed of packaging and production activities ensuring maximum productivity for the organization. Therefore, lucrative sales opportunities are expected for wicketed bags in the near future.
For better market understanding, research team has considered consumption and sales of wicketed bags as per various materials used for manufacturing of such bags and applications across five regions. End users have more inclination toward eco-friendly material; therefore, consumption of non-biodegradable material-based wicketed bags is rapidly increasing since the past three years. The Asia Pacific region is anticipated to hold the share of more than 41% of the global wicketed bags market by 2028. North America and Europe are expected to dominate the market in 2020, owing to wide applicability and high production of wicketed bags.
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.
Prominence of Transparent Packaging Solutions for Enhanced Aesthetic Appeal to Impact Sales
A trace of the product’s quality is perceived by the transparency of the package. If consumers are not able to see what is inside the package, they are less likely to purchase it. The surge in the demand for see-through packaging is on the rise, especially in the food & beverages industry, as it imparts visually pleasing appearance and enhances the shelf visibility of the product. Therefore, product differentiation is the main focus point of manufacturers, especially in the consumer goods segment.
Clear packaging can be achieved by using wicketed bags, as they offer superior gloss and transparency to the package. This also enables dispensing of food items such as bread & bakery products. This enables cost reduction, as there is no need of labelling, printing, and other decorations on packaging. Substantial portion of consumers make purchase decisions at the point of purchase, which is likely to be influenced by the packaging format and aesthetics of packaging. Therefore, the demand for see-through or transparent packaging using wicketed bags is higher in developed countries of North America, which will further drive the market in the upcoming years.
Recycling of Plastic Bags Posing Challenge for Wicketed Bags Market
Recycling of plastic bags is one of the major challenges for manufacturers and users. Wicketed bags are mostly manufactured using multi-layer blend of co-extruded polyethylene for boosting its strength. Furthermore, to make it attractive, many end users are using printing inks and other materials. Recycling of plastic bags having composite material layers and ink and dye are resulting in degrading quality of recycled plastic resins.
In order to minimize this, key players are manufacturing wicketed bags using bio-degradable material, which has less impact on the environment and is easy to recycle. Several states in Europe maintain strict packaging rules for both, manufacturers and distributors. Government authorities operating in many countries introduced stringent regulations on plastics below 50 micron in order to reduce the carbon emission and release of harmful chemicals. In addition, there are several laws enacted by the FDA regarding plastic use, specially associated with food and pharmaceuticals packaging. Packaging manufacturers operating in European and American countries are required to comply with the legislative requirements of regional governments to sell products. Small-scale wicketed bags manufacturers operating in the U.S. flexible packaging segment are not able to compete in the market due to high expenditure on innovation of existing products to comply with existing rules and regulations. All these factors are projected to restrict the wicketed bags market growth to a certain extent.
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.
The global wicketed bags market is highly fragmented in nature. A large portion of market share is held by domestic and local players. Some of the key players operating in the global wicketed bags market are Berry Global Inc., PAC World Corporation, Bischof + Klein SE & Co. KG, Mondi Plc, St. Johns Packaging, Sonoco Products Company, Supreme Plastics Group, LPS Industries. Inc., Uflex Ltd., and Coveris Holdings S.A.
Scope of the Report
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 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.
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.