Future Market Insights
Flip lip bags: Market Introduction
Global food packaging industry is worth over US$ 250 bn and is expected to grow at CAGR of over 5% during the forecast period. There have been various changes in the consumer and supplier mindset regarding the preference for certain type of packaging used. The general trend is to prefer packaging solutions that have a neat visual appeal, easy to handle, economical, customizable, and provide extended shelf life to the products. Flip lip bags offers these properties to the consumers. In addition to the properties, flip lip bags offers manufacturers the leverage of easy customization to increase brand awareness. Flip lip bags are recyclable and reusable and are used in various applications such as bakery, snacks food, frozen food, dry fruits and nuts etc. Flip lip bags offers safe and efficient transportation of the product. Flip lip bags improves the aesthetic appearance of the product when kept on the retail shelf. Flip lip bags keeps the product fresh and hygienic.
Flip lip bags: Market dynamics
Food service packaging market is a consumer driven market wherein consumers look for features such as ease of use and hygiene maintenance. Flip lip bags offers consumer friendly options such as easy to open, easy transportation of the product etc., which is influencing the rise in market share of flip lip bags. The flip lip bags market is expected to grow on the backdrop of food packaging industry growth. The ease of usability of flip lip bags in packaging helps the end-users, who are looking to reduce the labour cost economy. The rising demand for food and beverages driving flip lip bags market in emerging economies such as China, India, Mexico, Brazil, Nigeria and South Africa. Easy availability of raw materials has compelled manufacturers towards flip lip bags. Moreover, reduced prices of crude oil globally is expected to increase the momentum of flip lip bags market attributed to cheap availability of raw materials. Consumer preferences towards sustainable packaging, thus inclining the manufacturers towards biodegradable flip lip bags. Moreover, flip lip bags are recyclable and reusable.
The restraint that the manufacturers of flip lip bags faces is that flip lip bags are not waterproof. Furthermore, government stringent regulations regarding the use of plastics, thus hampering the market share of flip lip bags.
Flip lip bags: Market segmentation
Flip lip bags has been segmented on the basis of material type, closure type, end-use type, and region.
On the basis of material type flip lip bags can be segmented as
On the basis of closure type, flip lip bags can be segmented as
On the basis end-use type, flip lip bags can be segmented as
Flip lip bags: Regional outlook
Twin seal bags market has been segmented on the basis of the region into North America, Europe, Asia Pacific, Middle East & Africa (MEA) and Latin America. North America is expected to dominate the overall flip lip bags market over the forecast period due to changing eating habits such as fast food, snacks food etc. Asia Pacific is expected to show high growth opportunity over the forecast period due to the availability of low-cost labour and easy availability of raw materials. Europe is expected to show average CAGR over the forecast period due to strict government policies against the use of plastics. MEA region is expected to witness high CAGR expansion due to low-cost availability of crude oil.
Flip lip bags: Key players
Some of the key players in the field of flip lip bags market are Emerald Packaging, Inc., Rutan Poly Industries, Inc., E-Z Products Inc., International Plastics Inc., North Coast Plastics, Inc.
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