Published Date : May 28, 2018
Albany, New York, May 28, 2018 – The rise in demand for convenient and aseptic and packaging formats with respect to the customer and the need to diminish per-package cost with respect to the producer are the prime factors behind the development and rising popularity of bag-in-box containers all over the industries. Bag-in-box containers, as against traditional packaging systems, give enhanced safety and hygiene features along with more prominent convenience in storage, in packaging and transportation and low space use. According to a recently published report by marketresearchreports.biz titled, “Bag-in-Box Containers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2024.”
While the sales of bag-in-box containers are evaluated to add up to US$4,587.7 mn 2024, the market is foreseen to come across a major obstruction from the introduction of competitive substitute products, for example, cubitainers. All things considered, the surging demand for bag-in-box containers for wine packaging is likely to help conquer growth limitations and give the global market a noteworthy push to extend at 6.3% CAGR within the forecast period from 2017 to 2024.
Bag-in-box containers are produced using ethylene vinyl alcohol (EVOH), ethylene vinyl acetic acetate (EVA), low-density polyethylene (LDPE), and several different materials. Low-density polyethylene is the most widely utilized material for bag-in-box containers and records for a prominent share in the global market owing to its high utilization in the packaging of household products and food and beverages. Driven by its oxygen hindrance properties, ethylene vinyl alcohol is foreseen to gain footing over the coming years in the packaging of food products and beverages.
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As per end-use, the global bag-in-box containers market serves to food and beverages sector, industrial liquids, and household applications packaging organizations. The food and beverages segment dominates the global bag-in-box containers market with a share amounting to more than 75% of the global market by end use. This segment includes non-alcoholic beverages, liquid foods, and alcoholic beverages. The utilization of bag-in-box containers for household items is foreseen to witness the speediest development in coming years at a 9.1% CAGR.
Based on region, the global bag-in-box containers market is divided into Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. Europe is the biggest revenue generator in the global bag-in-box containers market as far as volume and value are considered. Latin America is foreseen to experience the most noteworthy development within the forecast period, with a CAGR of 8.0%. The rising demand for bag-in-box containers is anticipated to support the Asia Pacific market, with nations, for example, India and China emerging as significant supporters of the development of the regional market.
Prominent players in the global bag-in-box containers market include DS Smith, Smurfit Kappa Group, Amcor Limited, Scholle IPN, Liqui-Box, CDF Corporation, Parish Manufacturing Inc., Vine Valley Ventures LLC, Optopack Ltd. Organizations, and TPS Rental Systems Ltd, have been centered around capacity and geographical developments with a specific end goal to achieve a best place among the global pioneers.
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