Wicketed Bags Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Loose Flap, Bottom Gusset, Side Gusset, and Others) and Application (Food, Pharmaceuticals, Personal Care and Cosmetic Products, Industrial Goods, and Others)
The wicketed bags market was valued at US$ 783.34 million in 2021 and is projected to reach US$ 1,045.62 million by 2028; it is expected to grow at a CAGR of 4.2% from 2021 to 2028. Wicketed bags are held together on a wicket (thin metal bar). The wicket makes it easy to dispense bags and package various items. The bags enhance the aesthetic appeal of a product and can augment product dispensing, along with durable packaging. Wicketed bag is extensively utilized for packaging bakery food products, fruits, ice, vegetables, baby diapers, meat, and feminine hygiene products. Besides, wicketed bags are largely used in many end-use industries due to their properties such as high tear resistance, tensile and break strength, transparency, eco-friendly, and durability.
Based on application, the wicketed bags market is segmented into food, pharmaceuticals, personal care and cosmetic products, industrial goods, and others. The food segment is anticipated to dominate the market during the forecast period. Wicketed bags are commonly used for packaging processed and convenience food products along with agricultural produce, such as fruits and vegetables. Owing to the increasing demand from the food and beverage manufacturers for eco-friendly and recyclable packaging, the wicketed bags market for the food segment is expected to grow during the forecast period. Also, the growth of foodservice industries worldwide is anticipated to drive the demand for wicketed bags in coming years as these bags are utilized to store and transport goods. Further, the personal care and cosmetic products segment is expected to register the highest CAGR during the forecast period. Wicketed bags are utilized for packaging sanitary and cosmetic products such as baby diapers, sanitary towels, cotton swabs, and feminine hygiene products. The growing personal care and cosmetic products industry worldwide would propel the demand for wicketed bags during the forecast period.
Geographically, the wicketed bags market is segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA). APAC accounted for the largest share of the market in 2020. Also, the region is expected to register the highest CAGR during the forecast period. The wicketed bags market in APAC comprises several economies such as China, India, Japan, South Korea, Australia, and the Rest of APAC. The growing population, rising disposable income levels of the population, and substantial economic conditions are propelling the demand for food, pharmaceuticals, and personal care products, which is driving the growth of the wicketed bags market in APAC.
The ongoing pandemic has drastically altered the status of the plastic industry and has also impacted the growth of the wicketed bags market. The COVID-19 outbreak has further distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage. The disruptive value chain has had a negative impact on the raw material supply, which, in turn, is impacting the growth of the wicketed bags market. However, as the economies are planning to revive their operations, the demand for wicketed bags is presumed to rise globally. The packaging industry is a dynamically growing contributor to this demand since consumers are inclined toward ordering food products and other goods online. Moreover, the food and pharmaceutical segments are likely to bring growth opportunities for the market as wicketed bags are highly used in the packaging of food, personal hygiene, and pharmaceutical products. The corporate sectors have also resumed their operations with the imposition of several safety measures such as ensuring limited direct contact with visitors, strengthening and communicating proper hygiene practices, conducting complete sanitations, and eliminating personnel contact during shift changes.
St. Johns Packaging, Berry Global Inc., Bischof + Klein SE & Co. KG, Mondi, LPS Industries, PAC Worldwide Corporation, UFlex Limited, Coveris, Maco PKG., and Sonoco Products Company are a few well-established players operating in the global wicketed bags market.
The overall global wicketed bags market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global wicketed bags market.
Reasons to Buy
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global wicketed bags market, thereby allowing players to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook