NEWARK, Del, Oct. 07, 2022 (GLOBE NEWSWIRE) -- The global bag in box barrier film market is likely to reach US$ 521.8 Mn by the year 2032 at a CAGR of 5.1% from 2022 to 2032. It stands at US$ 317.3 Mn as of now.
The household vertical is into adoption of bag in box barrier films in household cleaners like surface cleaners and surface deodorizers. The developing economies are more subject to urbanization, which, in turn, calls for hygiene-promoting products like household cleaners.
The beverages vertical is also into adopting bag in box barrier films due to exorbitant production of the beverages. Bag in box barrier films are in greater demand as far as alcoholic beverages are concerned.
At the same time, the bag in box barrier films market is restrained by preference for substitute products like glass and plastic bottles. It’s a known fact that plastic bottles are available at cheaper rates. The soft drinks’ industry is more into usage of plastic bottles. Pouches are the other alternative to bag in box barrier films. They are also available in diverse formats, from 50 ml to bigger/multi-serving sizes and formats. Pouches do facilitate sampling during trials as well as on-the-go forms.
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On the positive side, increasing investments in research are expected to smoothen integrating new features like attributes, shape, and size, which would bring out new versions of bag in box barrier films going forward. Future Market Insights has entailed these facts with future prospects in its latest market study entitled “Bag in Box Barrier Film Market”.
Key Takeaways from the Bag in Box Barrier Film Market
- Europe holds 19% of the market share due to altering consumption pattern.
- North America holds 16% of the market share due to fast-paced alcoholic beverages sector. The US alone is witnessing a higher demand for wine. It is home to 10K wineries as of now. Herein, California accounts for 85% of the market. According to the National Epidemiologic Survey on Alcohol and Related Conditions, nearly 24 Mn American adults end up consuming an average of 74+ drinks every week.
- Coming to the Asia-Pacific, the countries like Japan, China, and India are witnessing proliferation of start-ups, which would accelerate the bag in box barrier film market in future.
- Youth and Working Class are expected to continue to dominate the Bag in Barrier Film market going forward due to fetish for shopping and consumption of wine.
“The household sector to keep the hopes high for Bag in Barrier Film market”, says an analyst from Future Market Insights.
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Competitive Edge
- Liquid-Box Corp, in March 2019, signed an acquisition agreement with DS Smith Plc with the objective of catalyzing its production and distribution capabilities.
- Anheuser-Busch InBev, in the year 2021, announced that it had completed acquisition of Craft Brew Alliance based out of the US. The aim of this initiative is that of strengthening the distribution network all across.
- DRINKinBOX Co2, the very first bag in box for carbonated beverages, is such that sparkling wine, beer, soft drinks, and several other carbonated beverages, after production, are filled directly into bag in box container.
- Liquibox, in February 2020, acquired Plastics Division of DS Smith Plc. It includes flexible as well as rigid packaging businesses. These companies would be having 35 production facilities with global workforce comprising 3K employees.
What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the Bag in Box Barrier Film market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on application (bag in box barrier films for wines, bag in box barrier films for fruit juice concentrates, bag in box barrier films for oil, bag in box barrier films for liquid egg, bag in box barrier films for milk, and bag in box barrier films for others), and by material type (EVOH bag in box barrier films, PE bag in box barrier films, PP bag in box barrier films, PC bag in box barrier films, PU bag in box barrier films, TPU bag in box barrier films, and EVA bag in box barrier films).
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions/Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Application modifications /Innovation
4. Key Success Factors
4.1. Strategic Developments
4.2. Key regulations
4.3. Application USPs /Technology
4.4. List of Manufacturers and Providers
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