Bag-in-Box Container Market Set to Witness an Uptick during 2022 to 2030Posted by Mrudula Anil Karmarkar on January 23rd, 2023 The global bag-in-box container market size is projected to reach USD 6.77 billion by 2030, registering a CAGR of 6.7% over the forecast period, according to a new report by Grand View Research, Inc. The increasing consumption of alcoholic beverages has emerged as a major driving factor fueling demand for the application of bag-in-box containers in the food & beverage industry. The growth of the industry is also fueled by the shift in consumption patterns towards natural food products across the globe. Another important factor bolstering the demand for bag-in-box containers is the increasing consumption in the household products industry. In this regard, household products, most notably surface cleaners and surface deodorizers are being increasingly packaged using bag-in-box containers. Growing urban population across the globe has further contributed to the growth of the industry owing to an increasing consumption of hygiene promoting products in households. Furthermore, the industry is driven by the rise in the packaging of low-foam detergents in bag-in-box containers coupled with their rising consumption (low-foam detergents). Europe has witnessed a considerable surge in the adoption rate (bag-in-box containers) in the recent few years. The demand for the product in this region is principally driven by the food sector and is backed by the increasing demand and consumption of cooking oils and sauces. In addition, the demand for the product is also augmented by the shift towards organic and healthy food. The region has also been witnessing high demand for convenient and flexible packaging solutions. This development has been encouraging major food brands operating in the flexible packaging to increase their scale of operation in Europe. The demand for bag-In-box container in the U.S. is expected to grow due to the presence of well-established food and beverage sector, coupled with high product adoption rates. In addition, presence of numerous manufactures including Smurfit Kappa Group, DS Smith, and Amcor Ltd. is expected to open new avenues for the industry growth over the projected period. The market is characterized by the presence of numerous established players in the market, which mostly operate out of North America with their distribution and manufacturing locations present across the globe. These companies enter into long-term agreements with raw material suppliers to reduce their production costs, ensure constant supply of the materials, and gain competitive edge over other small-scale, local players. The growth of the industry can be attributed to the growing product adoption in industry segments such as alcoholic beverages, household cleaners, and milk and dairy products. The bag-in-box container industry has been witnessing a soaring demand from the wine industry. The production of wine is expected to register a steady increase with the manufacturers adopting advanced packaging solutions such as bag-in-box containers as alternative packaging. The market for the bag-in-box container in the alcoholic beverage segment is expected to increase owing to the increasing alcoholic beverage consumption. Growth in the consumption of alcoholic beverages in developed economies is expected to drive growth in the market. North America is expected to be the largest consumer of alcoholic beverage products followed by Europe. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/bag-in-box-containers-market/request/rs1 The growing demand for household products is expected to drive the market for bag-in-box container in the forecast period. The increasing consumption of household cleaners such as surface deodorizers and surface cleaners is expected to drive the demand for bag-in-box container in this segment. The growing urban population in the region has accounted for an increase in the demand for hygiene promoting products such as household cleaners. In addition, the market is expected to be driven by the demand for low-foam detergents that are being packaged in bag-in-box containers. The demand for the bag-in-box container is expected to be hampered by the growth in the substitute product market such as plastic and glass bottles. The abundant availability of plastic bottles at lower prices is expected to hinder growth. The increasing demand for plastic bottles by the soft drink industry is expected to hamper the growth of the market for bag-in-box containers over the forecast period Bag-in-box containers face a high threat of substitution from other packaging products and packaging materials. Predominant among them are pouches. Pouches are among the most widely used products for the packaging of beverages. They are preferred for their convenience of use and portability. Furthermore, pouches are available in various formats as small as 50 ml to larger or multi-serving formats and sizes. Such factors have made pouches popular for on-the-go usage. From a marketing standpoint, pouches encourage sampling in the form of trial or on-the-go sizes. Bag-in-box Container Market Report & Highlights
The global market for bag-in-box container has several players, which are involved in technology development in terms of design and packaging solutions. Rising demand for innovative packaging designs for food and beverage products to catch consumer attention is expected to have a positive impact on industry growth over the forecast period. Manufacturers are coming up with new ideas in order to tap the rising consumer demand. For instance, U.K. based company, Elite Packaging, has developed a gusseted bag that is sealed in every corner. This design offers the product, more stability, and efficiency. In addition, it reduces the space required for the bag-in-box container, making it more compact for application. However, demand for sanitizing and cleaning products was on the rise due to increased awareness regarding health and hygiene among the population during the pandemic. Market players were focusing on developing new packaging for various cleaning products. In May 2020, Smurfit Kappa launched Vitop Blue tap for Bag-in-Box cleaning products. The product is intended to be used for bag-in-box hand sanitizer packaging during the COVID-19 pandemic. List of Key Players of Bag-in-box Container Market
Like it? Share it! More by this author |