The packaging industry has undergone various transformations and today companies are aiming towards flexible packaging adding features such as re-sealable finishes and providing a modern image with better functionality. Re-sealable packaging provides convenience to the customers by easing the storage, maintaining the freshness of the products, easy opening, product protection, reliability and supporting sustainability.
Additionally the product is easy to carry, store and can be utilized for frequent opening and closing. This kind of packaging has also reduced the waste generated, and fueled recycling. To drive product sales, manufacturers need to focus more on the product packaging as when the product is unconsumed, the user can conveniently store the product.
Re-closable packaging is utilized by various industries for the safe delivery of the products to their customers. A few examples of these industries are, medical and pharmaceutical industry, consumer products, food and beverages, and various others. The industry depends on the consumers and the launch of new technologies attract a wide range of consumers. In order to sustain in the market, the manufacturers have to stand out by aiding the consumers with innovative products from time to time.
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Further segmentation of the packaging industry depends on the material of the closures and on the basis of various types of material we can classify the industry into the following:
- Biodegradable films
- Pressure sensitive tape
Companies are trying to bring reform in the industry by various ways of marketing the product, along with labeling which would allow the product to be in the market without any breach in stability. Based on the changing industry trends, we have observed several key factors which drive the industry such as technological advancements, cost per package, and initiatives for sustainability.
Based on geography, the re-sealable packaging bags market can be segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and Middle East-Africa (MEA). Currently, North America is one of the most lucrative markets for resealable packaging as end-users prefer re-closable packs which are easy to carry and use. The major driving factors which have driven the growth of the market in this region are modern approaches towards preservation of flavor and texture of the product. Following North America is Europe, and the market in the region is anticipated to increase at a steady CAGR during the forecast period.
Asia-Pacific is expected to emerge as a lucrative market for resealable packaging during the forecast period, owing to sheer demand from end-use industries. It is anticipated that emerging economies in Asia-Pacific will fuel the demand for resealable packaging during the forecast period. China and India in particular will be key to global demand for resealable packaging.
It is anticipated that within the coming years there will be an entry of various players along with the existing well-established players in the resealable packaging market. Some of the key companies operating in the resealable packaging market are Comexi, C-P Flexible Packaging, Universal Flexible Packaging Ltd., Zip-Pak, Snack ’n Seal, Flexico, VELTEKO s.r.o., Bischof + Klein, Wyke Farms, J&J Snack Foods, Crystal Flex Packaging, Presto Products Company, Polymer Packaging Inc., Sealstrip Corporation, Tipper Tie and Polymer Packaging Inc. It is observed that a lot of small scale companies are involved in the industry as the market is growing at a rapid state.