NEWARK, Del, Feb. 23, 2023 (GLOBE NEWSWIRE) -- As per Future Market Insights’ latest industry analysis, Sales of bag-in-box market packaging are expected to witness a growth of 1.7 times between 2023 and 2033. Need to keep alcoholic beverages free from contamination can be attributed to growth. This type of packaging will be used by alcoholic beverage manufacturing companies.
In 2023, it is anticipated that the global bag-in-box market will be worth US$ 3.5 billion. It is expected to generate a US$ 6.1 billion by 2033. From 2023 to 2033, the global market is projected to expand at a CAGR of 5.7%.
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In recent years, bag-in-box packaging for alcoholic beverages is gaining traction. It offers high convenience and cost-effectiveness. Shelf life, easy dispensing, storage, and handling are key factors attracting consumers. Manufacturers are also using bag-in-box in alcoholic beverage packaging.
Manufacturers are experimenting with new packaging formats. They are using bag-in-box for beer and cocktails to differentiate their product offerings. Use of bag-in-box by restaurants and bars is increasing in North America and Europe.
Sales of bag-in-box globally are estimated to record a significant rise. Increased popularity across developing and underdeveloped economies would drive demand. India and China are expected to witness high growth. Presence of numerous beverage manufacturers would also push sales.
Key Takeaways from Bag-in-Box Market
- By capacity, the less than 5 liters’ segment is anticipated to register a 7.0% CAGR between 2023 to 2033.
- By end user, the beverage industry is set to hold around 66% of bag-in-box market share by 2033.
- By material, the low-density polyethylene sub-segment will capture around 1/3rd of the global market in 2033.
- Sales of bag-in-box are estimated to register a whopping 5.7% CAGR over the forecast period.
- The USA bag-in-box market is set to surge 1.6 times between 2023 and 2033.
“Increasing consumption of alcoholic beverages would drive bag-in-box sales. Demand for sustainable packaging for wine would also augment sales,” says a lead analyst at Future Market Insights.
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Bag-in-Box Manufacturers to Open New Production Facilities across the Globe
High per capita food expenditure is propelling demand in the market. Sales of hygienic and lightweight food packaging solutions would surge.
Bag-in-box manufacturers are focusing on commissioning new production facilities. They want to cater to rising demand across various industries.
Renowned bag-in-box manufacturers are focusing on expanding their international presence. They are setting up operational facilities or distribution centers over high-growth offering markets.
Rising production of bag-in-box to meet innovative packaging needs would aid demand. Chemical and petroleum industries are also adopting innovative bag-in-box packaging.
Rising Demand for Bag-in-Box Containers from the Wine Industry to Boost Sales
Wine producers are inclining towards the use of bag-in-box containers for wine packaging. They offer various advantages over glass bottles. They are easy to pack & distribute and are cost-efficient.
Oxygen transmission rate (OTR) is a prime factor in determining the quality of wine. Bag-in-box offers a low oxygen transmission rate over glass bottles. Hence, it is preferred by wine producers across the globe.
Wine manufacturing industry holds around half of the global bag-in-box container demand. Industry sentiments for wine are expected to be rather optimistic. Growth of the wine industry would translate into rising demand for bag-in-box containers.
In Italy, France, Spain, and the United Kingdom, bag-in-box wine packaging is very popular. Emerging countries are expected to follow their footprints.
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Competitive Landscape: Bag-in-box Market
Main suppliers of bag-in-boxes are concentrating on offering novel packaging formats. To draw customers, they use raw resources that are sustainable. Other businesses are forming strategic alliances with important sectors. They are trying to keep one step ahead of their rivals.
A Few Key Companies in Global Bag-in-box Market
- Smurfit Kappa Group
- Liqui-Box Corporation (DS Smith Plc.)
- Amcor plc
- Scholle IPN
- CDF Corporation
- TPS Rental Systems Ltd
- Optopack Ltd.
- Aran Group
- TriMas Company (Rapak)
- Montibox
- STI - Gustav Stabernack GmbH
Get More Insights into Bag-in-box Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the bag-in-box market, analysing historical demand from 2016 to 2022 and forecast statistics for 2023 to 2033. The study reveals growth projections on the bag-in-box market based on capacity (less than 5 liters, 5 to 10 liters, 10 to 15 liters, 15 to 20 liters, more than 20 liters), material (paper & paperboard, plastic), and end use (food, beverages, chemical, petroleum, homecare, cosmetics & personal care) across seven regions.
Key Market Segments Covered in Bag-in-Box Industry Research
By Capacity:
- Less than 5 liters
- 5 to 10 liters
- 10 to 15 liters
- 15 to 20 liters
- More than 20 liters
By Material:
- Paper and Paperboard
- Plastic
- Low Density Polyethylene (LDPE)
- Ethylene Vinyl Acetate
- Metallized-PET
- Ethylene Vinyl Alcohol (EVOH)
- Nylon
By End Use:
- Food
- Dairy Products
- Sauces, Vinegar & Flavoring
- Liquid Egg Products
- Beverages
- Alcoholic Beverages
- Non Alcoholic Beverages
- Water
- Chemicals
- Petroleum
- Homecare
- Cosmetic & Personal Care
Table of Content
1. Executive Summary | Bag-in-Box Market
1.1. Global Market Overview
1.2. Analysis and Recommendations
2. Market Overview
2.1. Market Definition
2.2. Market Coverage
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
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Explore FMI’s Extensive Coverage on Packaging Domain:
Bag-in-Box Filler Market Size: The global bag-in-box filler market size was around US$ 146.7 million in 2021 and is projected to reach a valuation of US$ 154.6 million by 2022, growing at a yearly (Y-o-Y) growth rate of about 5%.
Wine Packaging Market Demand: Throughout the forecast period, the global wine packaging market is anticipated to expand at a CAGR of 5.4%. (2022-2032). By 2032, the market value is expected to have grown from US$ 3.4 billion in 2022 to US$ 5.7 billion.
Beverage Packaging Market Growth: With a 4.1% CAGR, the market for beverage packaging is projected to reach US$ 156.7 billion in 2032. In 2022, the market is anticipated to be worth US$ 104.8 billion.
Bag in Box Barrier Film Market share: The global bag-in-box barrier market is expected to secure US$ 317.3 Million in 2022, surging to US$ 521.8 Million by 2032. During 2022-2032, the market is likely to display a CAGR of 5.1%, against 4.3% in 2016-21.
Wicketed Bagging Machines Market Opportunities: Throughout the assessment period of 2022–2032, it is predicted that demand would increase at a CAGR of roughly 4%–5% in the market for wicketed bagging machines.
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Source: Bag-in-Box Market projected to reach US$ 6.6 Bn by 2031
