The global bag-in-box container market was valued at USD 3.04 billion in 2019 and predicted to reach over USD 5.4 billion by 2027 with register a compound annual growth rate (CAGR) of around 6.23% during forecast period 2020 to 2027.
The bag-in-box packaging system was generated as a restructured solution to the complications of packaging paste-textured and liquids food products like water, wine, sauce, syrup, juice, and fats, purees and oils. Global packaging sector has had an essential part to play in ecological remediation accomplishments, particularly since the upsurge of the e-Commerce sector. With consumers and governing organizations asserting the necessity for environmentally viable and harmless packaging, a rising amount of packaging businesses are penetrating into revolutionizing types and materials of biologically friendly packaging.
However, COVID-19 epidemic has instigated an international slowdown in the engineering, processing and production of plastics. This has stemmed in drop in manufacturing of bag-in-box containers worldwide. Further, cost savings is not related with only material as it also depend on the manufacturing line in protecting costly floor space, and plummeting capital investment plus associated operations and maintenance prices. Substitute to bag in box such as stand up pouches are manufactured with the help of single VFFS machines that utilize little space on the manufacturing floor compared to usual bag in box line.
This type of container catches applications in different area including food & beverage, household products, liquid foods, non-alcoholic and alcoholic beverages and industrial liquids. Bag-in-box packaging offers tremendous advantages to Industrial lubricant and grease Industry. It further, offers businesses and warehouses a foreseeable, stackable shape with perfect weight and height storage rules to follow. Huge demand for this type of packaging solutions from the food & beverage sector and industrial products sectoris stimulating the growth of this market across the world.
In 2019, different kinds of plastics manufactured with multiple polymers including ethylene vinyl alcohol and low-density polyethylene emerged as lucrative segments in the global bag-in-box containers market. The acceptance of plastics is projected to surge at a rapid rate in due to enduring expansions in the engineered plastics business. Growing product request for packaging use on account of plentiful availability and low cost of LDPE is driving its growth across this market. Bag-in-box container having LDPE bids considerable characteristics such as outstanding performance, reliability, chemical resistance, packaging waste drop and great oxygen barrier property that is encouraging its need across different industry sectors.
Further, ethylene vinyl acetate segment of the market is expected to experience stable sale during years to come on account of escalating demand for wine worldwide. Increasing wine demand attributed to upsurge in number of resto bars, and urbanization are together propelling the growth of the market.
Geographically, Asia Pacific is anticipated record fastest growth rate in this market during years to come. Mounting food and beverage sector in Asia Pacific is projected to have an optimistic influence on the bag-in-box container business growth. Similarly, the mountings suburbanization and industrialization in the nations including India, China and others is further advancing the progress of the regional market. North American market growth is expected to fuel by bag-in-box container demand from various application sectors from Canada and the U.S. during assessment. Existence of foremost food & beverage players such as Kellogg’s Pepsi co, and Tyson Food plus reasonable and innovative and packaging solutions are further boosting the growth of the market in these economies. Increasing beverages sale including bottle water, Coffee jolts soda, juice & energy drinks on account of cumulative millennial populace is further supporting the bag-in-box containers market in North America.
Key Companies & Market Share Insights
Companies involved in the bag-in-box marketplace are strongly converging on strategic operations such as mergers, collaborations, innovative product improvement, acquisitions, and enhancing production capabilities to meet universal demand of the product. Several market contenders are developing innovative concepts to tap the mounting potential consumer requirements. For illustration, Elite Packaging, a company base in UK established a gusseted bag that is wrapped in all corner. This design delivers more constancy and competence and decreases space mandatory for the bag-in-box container, creating it extra compact for usage.
In 2019, Liqui-Box, which is a worldwide provider of flexible bag in box packaging for bulk food industry and dairy, beverages acquired DS Smith PLC’s plastics business segment. With the help of this activity, company can combine its technological expertise and produce groundbreaking products. This will help it to address comprehensive range of consumers ensuing in achieving robust market foothold.
The key participants functioning in the bag-in-box packaging system market are mentioned below:
Segments Covered in the Report
This research study comprises comprehensive assessment of the marketplace revenue with the help of prevalent quantitative and qualitative acumens, and forecasts of the market. This report presents breakdown of market into major and niche segments. Furthermore, this research study gauges market revenue growth and its drift at global, regional, and country from 2016 to 2027. This report includes market division and its revenue assessment by categorizing it depending on type, application and region as follows:
By Regional Outlook
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