Future Market Insight Global & Consulting Co., Ltd.
U.S. Silicone Food Storage Bags Market: Demand is surging due to sustainability trends in foodservice, projected to grow at a CAGR of 4.9% from 2024 to 2034.
NEWARK, Del., June 24, 2024 (GLOBE NEWSWIRE) — The silicone food storage bags market share is estimated to reach USD 2,194.7 million in 2034. Eliminating the possibility of food spillage and waste for a more sustainable environment is expected to drive the demand for silicone food storage bags in the future. The silicone food storage bags market is expected to reach USD 1,334.6 million in 2024, exhibiting a CAGR of 5.1% during the forecast period 2024-2034.
The food storage bags market is undergoing a major transformation due to the growing popularity of silicone bags, which offer unique advantages over traditional options. The growing concern over food safety is the primary reason behind the increasing use of these bags across a range of sectors, including households, restaurants, catering businesses, and other food-related businesses. Silicone food storage bags address this concern by offering heat resistance and non-reactivity, making them ideal for storing a variety of foods. The implementation of stricter food safety regulations by regulatory agencies is also a boon for manufacturers, boosting the demand for silicone as a safe and reliable material.
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As well as safety, silicone food storage bags share user-friendly features such as light weight, ease of use and sleek design. Their portability allows for convenient food storage on the go, and convenience foods have become increasingly popular to cater to the busy lifestyles of modern consumers. The market is also being influenced by consumers' environmental awareness, with some manufacturers considering bioplastics as a potential alternative material.
The silicone food storage bags market is growing due to the increasing demand for packaged foods such as frozen and ready-to-eat meals. These bags are durable and can withstand sub-zero temperatures, making them ideal for storing frozen foods. They also promote sustainability by eliminating the need for disposable plastic wrap when reheating food. The silicone food storage bags market includes a wide range of sizes and types, from small lunch bags to large bags for family meals.
Rising concerns over food waste have driven the demand for silicone food storage bags in the foodservice industry. These bags extend the shelf life of fresh foods by creating a controlled environment and minimizing food waste, resulting in cost savings for restaurants and catering operations. The rise in convenience foods, sustainability, and the need to reduce food waste are all driving the silicone food storage bags market.
The story continues
“The silicone food storage bags market is expanding due to consumer demand for packaged foods, sustainability concerns and the need to reduce food waste. These bags are durable, reusable and available in a variety of sizes and types, making them popular in kitchens and restaurants across the world,” said Ismail Sutaria, principal consultant, packaging, Future Market Insights (FMI).
Key Takeaways from the Silicone Food Storage Bags Market:
Silicone coated nylon bags are expected to garner a significant revenue share of 72% in 2024.
The demand for silicone food bags in the United States is projected to grow at a CAGR of 4.9% by 2034.
In 2024, ready-to-eat (RTE) product packaging dominated the market with a revenue share of 42%.
The Chinese silicone food storage bags industry is expected to grow at a CAGR of 5.1 from 2024 to 2034.
The Indian silicone food storage bags segment is projected to register a CAGR of 5.3% by 2034.
Competitive Analysis of Silicone Food Storage Bags
The silicone food storage bags market is a highly competitive and fragmented market with numerous companies vying for market share. Leading manufacturers are focusing on product innovation, developing different bag sizes and designs, and exploring new features such as integrated portion control markings.
Market players are adopting a multi-pronged approach that includes strategic partnerships with retailers, online advertising campaigns, and continuous investments in research and development, which helps them to broaden their product portfolio and strengthen their customer base in the ever-evolving silicone food storage bags market, benefiting consumers through continuous innovation and product development.
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Recent Industry Trends in Silicone Food Storage Bags
W&P's reusable roll-tight storage bags were introduced in July 2023 to minimize waste and preserve produce. These BPA-free, food-grade containers are safer for the freezer and refrigerator and require less storage space. They're perfect for storing grab-and-go lunches, prepping lunches, or keeping bulk items fresh in the freezer.
Major Players in Silicone Food Storage Bags Industry
Tupperware
Weesprout
Moon Moon UK
Durble LLC
Stasher Bag
Zip Top
Home Lux Theory
Recompress
Reque
Hata Line
Silica Liquid
Healthy Packers
Ollieloo
Rusby
Major Segments of Silicone Food Storage Bags Industry
By type:
By application:
Fruits and vegetables
Dried fruit
Ready-to-eat products
others
By region:
author:
Ismail Sutaria, Principal Consultant, Packaging & Materials, has over 8 years of market research and consulting experience in the Packaging & Materials industry. Ismail's strength lies in identifying the key challenges facing his clients and providing logical and actionable insights to empower them with strategic decision-making.
Ismail has played key roles in several transformation consulting engagements. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis and business transformation advisory. Ismail has an MBA in Marketing and a Bachelor's degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR Accredited, Stevie Award Winner, Member of the Greater New York Chamber of Commerce) offers deep insights into the driving forces driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food & beverage, consumer, technology, healthcare, industrial and chemical markets. With a large team of 400+ analysts worldwide, FMI offers global, regional and local expertise on a range of sectors and industry trends across 110+ countries.
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