Transparency Market Research delivers key insights on the wicketed bags market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2020-2028. In terms of revenue, the global wicketed bags market is projected to expand about 1.5x its current market value by the end of 2028, owing to the high demand for flexible and transparent packaging. The retail & consumer segment is likely to create an incremental opportunity of more than US$ 518 Mn between 2020 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. As per the TMR analysis, Asia Pacific region is anticipated to hold the share of more than 40% 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.
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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.
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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.