New York, United States , Aug. 27, 2024 (GLOBE NEWSWIRE) -- As per the Latest Report by Straits Research, the global bag-in-box containers market size was valued at USD 4347 million in 2023. It is projected to reach USD 7594.92 million by 2032, growing with a CAGR of 6.7% during the forecast period (2024–2032).
Bag-in-box containers are convenient packaging solutions that can be used in packaging various beverages, household cleaning products, and industrial liquids. These containers provide extra protection during transportation and can carry and package liquids efficiently. They are lightweight and require less space during storage and transport. They also help extend the shelf life of the packaged products, making them ideal for the packaging of beverage products. The rapid growth of application industries such as food and beverage, detergents, and industrial oils is expected to impact the bag-in-box containers market over the projected period positively.
Download Free Sample Report PDF @ https://straitsresearch.com/report/bag-in-box-containers-market/request-sample
Growth of the Food and Beverage Industry Drives the Global Market
The demand for bag-in-box containers is expected to increase owing to their utilization in the food and beverage industries. The box-in-box containers are used for packaging alcoholic beverages as they are convenient to use and distribute. The increasing consumption of alcoholic beverages by developing and developed economies will likely drive the growth of the bag-in-box container market. Using bag-in-box containers for beer packaging leads to high-cost savings and a reduction in CO2 emission. These containers help maintain consistency in the quality and taste of the product.
Regional Analysis
North America is the most significant shareholder and is expected to grow at a CAGR of 6.7% over the forecast period. The growth is also driven by rising demand for oilseeds, corn, and soybean oil. The region is one of the largest exporters of alcoholic beverage products, which is likely to drive market growth for bag-in-box containers over the forecast period. The rising demand for containers from the industrial segment, which is used for packaging lubricants and greases, will also propel the growth. The focus of manufacturers for creating sustainable packaging by using bio-degradable materials to make them environmentally friendly is anticipated to benefit the bag-in-box containers market in the region.
Canada is one of the region's largest exporters of food and beverage. The increasing exports in the country, coupled with a shift towards organic components, have led manufacturers to invest heavily in R&D related to product and packaging designs. As a result, the demand for bag-in-box containers in the food and beverage industries is anticipated to grow over the projected period.
Europe is expected to grow at a CAGR of 6.1%, generating USD 1,175.19 million over the forecast period. Changing consumption patterns and high levels of urbanization coupled with the increasing popularity of such packaging are expected to increase market growth over the forecast period. The food sector is expected to drive the market demand for bag-in-box container packaging owing to the region's increased demand for sauces and cooking oils. The changing consumer eating patterns and shift towards healthy and organic food have led to increasing demand for natural substitutes in food products. In the UK, the decreasing cost of the primary chemicals used to produce bag-in-box containers is likely to increase the demand for bag-in-box containers. The introduction of technologically advanced products and rising demand for green-labeled products by consumers in this country are expected to increase the demand for bag-in-box containers over the forecast period.
Asia-Pacific region is one of the critical regions of development for the manufacturing sector due to flourishing economies, greater spending power, more youthful populations, increased urbanization, growth of the FMCG markets, and a rising interest in health and wellness. Shifting consumer preferences for convenient liquid packaging solutions, owing to the change in demographics and lifestyle dynamics in Asian countries, is expected to drive product demand over the forecast period. In addition, high flexibility to accommodate a variety of products, low weight, high barrier properties, and ease of portability are the essential properties of the bag-in-box, boosting product penetration in the Asia-Pacific.
To Gather Additional Insights on the Regional Analysis of the Bag-in-box Containers Market @ https://straitsresearch.com/report/bag-in-box-containers-market/request-sample
Key Highlights
- The global bag-in-box containers market size was valued at USD 4347 million in 2023. It is projected to reach USD 7594.92 million by 2032, growing with a CAGR of 6.7% during the forecast period (2024–2032).
- Based on application, the global bag-in-box container market is divided into food and beverage, industrial liquids, and household products. The food and beverage segment owns the highest market share and is expected to grow with a CAGR of 6.4% over the forecast period.
- North America is the most significant shareholder and is expected to grow at a CAGR of 6.7% over the forecast period.
Top 5 Competitive Players in the Bag-in-Box Containers Market
- Amcor Ltd
- Smurfit Kappa Group
- DS Smith
- Scholle IPN
- Liqui Box.
Recent Developments
- November 2021: The Smurfit Kappa Bag-in-Box facility in Spain started the production of bags with a new thermo-laminated metalized film, M-Compact 77, which the company stated is a more sustainable option.
- May 2021: Scholle IPN announced that they had made commercially available a range of Amazon ISTA-6, SIOC-certified bag-in-box packaging for liquid products.
Segmentation
- By Applications
- Food and Beverage
- Household Products
- Industrial Liquid
- By Region
- Asia Pacific
- Europe
- North America
- Latin America
- Middle East and Africa
Get Detailed Market Segmentation @ https://straitsresearch.com/report/bag-in-box-containers-market/segmentation
About Straits Research Pvt. Ltd.
Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
For more information on your target market, please contact us below:
Phone: +1 646 905 0080 (U.S.)
+91 8087085354 (India)
+44 203 695 0070 (U.K.)
Email: sales@straitsresearch.com
Follow Us: LinkedIn | Facebook | Instagram | Twitter
