NEWARK, Del, June 24, 2024 (GLOBE NEWSWIRE) -- The silicone food storage bag market share is estimated to reach USD 2,194.7 million in 2034. Eliminating chances of food spillage and food wastage for a more sustainable environment is anticipated to push the demand for silicone food storage bags in the future. The silicone food storage bag market stood at USD 1,334.6 million in 2024 and is set to exhibit a CAGR of 5.1% in the forecast period from 2024 to 2034.
The food storage bag market is undergoing a significant transformation due to the increasing popularity of silicone bags, which offer unique advantages over traditional options. The increasing usage of these bags across various domains, such as homes, eateries, catering businesses, and other food-related enterprises, is primarily driven by the increasing concern for food safety. Silicone food storage bags address this concern by offering heat resistance and non-reactive nature, making them ideal for storing various food items. The implementation of stricter food safety regulations by governing bodies is also acting as a tailwind for manufacturers, increasing the demand for silicone as a safe and reliable material.
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Similar to safety, silicone food storage bags offer user-friendly features such as being lightweight, easy to use, and clean design. Their high portability allows for convenient food storage on the go, catering to the growing popularity of convenience foods and the fast-paced lifestyles of modern consumers. The market is also influenced by the environmental consciousness of consumers, with some manufacturers exploring bio-plastics as a potential replacement material.
The silicone food storage bag market is experiencing growth due to the increasing demand for packaged foods like frozen meals and ready-to-eat options. These bags are durable and can withstand freezing temperatures, making them ideal for storing frozen meals. They also eliminate the need for single-use plastic wrap when reheating food, promoting sustainability. The silicone food storage bag market offers a diverse range of sizes and types, from portion-control bags for lunches to large bags for family meals.
The growing concern about food waste is driving the demand for silicone food storage bags in the food service industry. These bags help extend the shelf life of fresh food by creating a controlled environment, minimizing food waste and resulting in cost savings for restaurants and catering businesses. The rise of convenience foods, sustainability, and the need to reduce food waste are all driving the silicone food storage bag market.
“The silicone food storage bag 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 offer a diverse range of sizes and types, making them a popular choice in kitchens and restaurants worldwide,” says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Silicone Food Storage Bag Market:
- Silicone coated nylon bags claims a significant revenue share of 72% in 2024.
- The demand for silicone food bags in the United States is predicted to exhibit a CAGR of 4.9% by 2034.
- In 2024, the packaging of ready to eat (RTE) products dominated the market with revenue share of 42%.
- The silicone food storage bag industry in the China is anticipated to see a CAGR of 5.1 from 2024 to 2034.
- The silicone food storage bag sector in India is projected to showcase a CAGR of 5.3% through 2034.
Competitive Analysis of the Silicone Food Storage Bag Sector
The silicone food storage bag market is a competitive and fragmented space with numerous companies vying for market share. Leading manufacturers focus on product innovation, developing bags in various sizes and designs, and exploring new features like integrated portion control markings.
Market players adopt a multi-pronged approach, including strategic partnerships with retailers, online advertising campaigns, and continuous investment in research and development. This approach helps expand product portfolios and solidify customer bases within the ever-evolving silicone food storage bag market, benefiting consumers through continuous innovation and product development.
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Recent Industry Development in the Silicone Food Storage Bag Sector
Reusable Roll Tight Storage Bags from W&P 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 need less storage space. They work well for storing to-go lunches, preparing lunches, and maintaining the freshness of bulk goods in the freezer.
Key Players of the Silicone Food Storage Bag Industry
- Tupperware
- WeeSprout
- Moonmoon UK
- Durbl, LLC
- Stasher Bags
- Zip Top
- Homelux Theory
- Rezip
- Lekue
- Qinline
- Silikids
- Healthy Packers
- Ollieroo
- Russbe
Key Segments of the Silicone Food Storage Bag Industry
By Type:
- Silicone Coated Nylon Bags
- Polystyrene Bags
By Application:
- Fruits and Vegetables
- Dry Fruits
- Ready to Eat Products
- Others
By Region:
- North America
- Latin America
- Europe, East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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