Increasing product adoption in industry segments such as alcoholic beverages, household cleaners, and milk and dairy products is driving the growth of the target market globally
The global bag-in-box market accounted for US$ 2.93 billion in 2020 and is estimated to be US$ 4.72 billion by 2030 and is anticipated to register a CAGR of 5.5%.
The report. "Global Bag-in-Box Market, By Component (Bags, Boxes, and Fitments), By Capacity (< 1 liter, 3–5 liters, 5–10 liters, 10–20 liters, and > 20 liters), By Material State (Semi-liquid and Liquid), By Tab (With Tap and Without Tap), By End-Use Sector (Food, Beverage, Industrial, and Others (Cosmetics & Personal Care and Household)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.
Key Highlights:
In October 2019, Rapak expanded the bag-in-box production capacity of its Auckland, New Zealand facility in response to the growth in demand in the Asia Pacific. It is projected to expand its manufacturing output by over 125% over the forecast period.
In March 2019, Liqui-Box Corp. signed an acquisition with DS Smith’s (UK) plastic division. DS Smith is a global provider of corrugated packaging. Its plastics division includes Rapak and Worldwide Dispensers business. This acquisition would offer a design capabilities, global footprint, and service platform that will provide customers the most compelling packaging solutions and boots advancements in technology and sustainability.
Analyst View:
Rising demand from the wine industry
The bag-in-box industry is been registering a rising demand from the wine industry. The production of wine is projected to witness a stable growth with the manufacturers undertaking advanced packaging solutions which involves bag-in-box containers as an alternative packaging. The bag-in-box market for the alcoholic beverage segment is anticipated to grow due to increasing alcoholic beverage consumption. Increase in consumption of alcoholic beverage in developed countries is projected to boost the growth in the market. North America is anticipated to be the leading consumer of alcoholic beverage products followed by Europe.
Increasing demand for household products
Increasing demand for household products is projected to fuel the market for bag-in-box in the coming years. Rising consumption of the household cleaners such as surface cleaners and surface deodorizers is projected to boost the demand for bag-in-box market globally. Increasing urban population globally has estimated for a surge in the demand for hygiene promoting products such as household cleaners. Additionally, the market is anticipated to be driven by the need for low-foam detergents that are being packaged in bag-in-box containers.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Bag-in-Box Market”, By Component (Bags, Boxes, and Fitments), By Capacity (< 1 liter, 3–5 liters, 5–10 liters, 10–20 liters, and > 20 liters), By Material State (Semi-liquid and Liquid), By Tab (With Tap and Without Tap), By End-Use Sector (Food, Beverage, Industrial, and Others (Cosmetics & Personal Care and Household)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030
Key Market Insights from the report:
The global bag-in-box market accounted for US$ 2.93 billion in 2020 and is estimated to be US$ 4.72 billion by 2030 and is anticipated to register a CAGR of 5.5%.. The market report has been segmented on the basis of component, capacity, material state, tap, end-user, and region.
By component, the target market is segmented into bags, boxes, and fitments
By capacity, the 5–10 liters segment is expected to be a faster-growing market over the forecast period. The use of 5–10-liter bag-in-boxes in dispensing systems by foodservice operators, quick-serve restaurants, and beverage manufacturers has led to the significant growth of this segment.
By material state, the target market is segmented into semi-liquid and liquid
By tap, the target market is segmented into with tap and without tap
By end-user, the beverage segment in the bag-in-box market is the fastest-growing sector. Factors such as the extended shelf life of the product, growing consumption of alcoholic beverages, and the ease of transporting and handling are considerably contributing to the growth of this segment.
By region, Asia Pacific is projected to witness a highest growth rate over the forecast period. Increasing food and beverage market in Asia Pacific is anticipated to have a positive impact on the bag-in-box market growth in the coming years. Increasing adoption of packaged food and beverage products coupled with rising industrialization in countries such as India, China is expected to drive demand over the forecast period.
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Competitive Landscape:
The prominent player operating in the global bag-in-box market includes Smurfit Kappa Group, DS Smith, Amcor Limited, CDF Corporation, Liqui-Box, Scholle IPN, Vine Valley Ventures LLC, Parish Manufacturing Inc., TPS Rental Systems Ltd., and Optopack Ltd.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
