NEWARK, Del, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The valuation for the global bag-in-box market was around US$ 3.6 billion in 2023 and is projected to exhibit a CAGR of 5.6 % over the forecast period, with an expected valuation of US$ 6.6 billion by 2034.
The increasing need for sustainable packaging options, the popularity of e-commerce, and rising alcoholic beverage consumption are all predicted to drive growth in the bag-in-box industry. Furthermore, advancements in bag-in-box packaging, such as self-heating and self-cooling features, are expected to boost market expansion.
The need for environmentally friendly packaging solutions is a primary driver in the BIB (Bag-in-Box) market. BIB packaging has various environmental benefits over traditional packaging methods, including lower transportation costs due to its lightweight and compact design and the recyclability of its materials (cardboard and plastic).
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Increasing health awareness worldwide owing to hygienic food and packaging solutions is expected to create significant opportunities. Developed countries with stringent food and packaging regulations are expected to drive the market for sustainable packaging. The manufacturers are focusing on launching flexible products to carry using 100% recyclable materials to gain popularity in the market.
The rising demand for industries such as wine and alcohol is projected to enhance the market growth. Recyclability, sustainability, and affordability are the key factors accelerating the market. Moreover, apart from alcohol and wine, dairy products and other industrial chemicals are propelling the market.
Key Takeaways from the Market Study
- The global bag-in-box market is estimated to register a CAGR of 11% with a valuation of US$ 6.6 billion by 2034.
- The United States is anticipated to register a 3.7% CAGR during the forecast period.
- With a 6.4% CAGR, China is driving the global market by 2034.
- United Kingdom is anticipated to secure a CAGR of 5.1 % in the global market during the forecast period.
“Key bag-in-box suppliers are focusing on unique packaging formats to attract customers, such as recycled cardboard, glass, and aluminum bottles. To remain competitive, companies are emphasizing brand transparency and introducing groundbreaking innovation” - Says Ismail Sutaria, Principal Consultant, Packaging and Materials at Future Market Insights.
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Competitive landscape
In recent years, there has been a surge in investment and collaboration within the industry. These strategic partnerships and financial investments aim to accelerate research and development, scale production, and expand market reach. Key players have initiated promotional activities to introduce the design and shapes of box packaging. Moreover, industry experts are innovating the packaging system to reduce carbon footprint and enhance consumer health.
Recent Development
- Spadel, a mineral water brand, and DS introduced a new 5-liter packaging in an octagonal shape in 2022. The packaging is focused on flexible plastic bags and cardboard.
- Scholle IPN introduced SIOC, an Amazon ISTA-6 authorized bag-in-box packaging line for liquid products, in 2021.
- In 2023, Smurfit Kappa Group, a paperboard bag manufacturer, introduced a new recyclable bag-in-box made of 53% recycled and renewable resources.
- Smurfit Kappa developed A new tiny film for bag packaging in 2021. The film E Compact 60 minimizes the amount of plastic used for bag production.
Market Key Players
- Smurfit Kappa
- DS Smith PLC
- Liqui-Box Corp
- Scholle IPN Corp
- CDF Corporation
- Aran Group
- Fujimori Kogyo
- Goglio
- Amcor Limited
- Vine Valley Ventures
- Parish Manufacturing
- TPS Rental Systems
- Optopack
- Accurate Box Company
- CENTRAL PACKAGE & DISPLAY
- Arlington Packaging (Rental)
- BiBP SP. z O.O
- Hangzhou Hansin New Packing Material Co
- Zarcos America
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Market Segmentation
By Capacity:
- Less than 5 liters
- 5 to 10 liters
- 10 to 15 liters
- 15 to 20 liters
- More than 20 liters
By End Use:
- Food
- Dairy Products
- Sauces, Vinegar & Flavoring
- Liquid Egg Products
- Beverages
- Alcoholic Beverages
- Non-alcoholic Beverages
- Water
- Chemicals
- Petroleum
- Cosmetic & Personal Care
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author
Ismail Sutaria (Principal Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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USA & Canada Bag-in-Box Market Share: The bag-in-box industry in North America is poised for substantial growth, with a projected valuation of US$ 288.6 million in 2023. Anticipated to experience a robust surge, bag-in-box sales in this region are expected to exhibit a commendable compound annual growth rate (CAGR) of 5.1% from 2023 to 2033. By the end of the forecast period in 2033, the North American market is forecasted to reach a noteworthy valuation of US$ 473.0 million.
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Paper Bag Market Trends: The market is projected to have an estimated value of US$ 5.6 billion in 2024. Forecasts suggest a steady growth trajectory, with the market expected to achieve a valuation of US$ 8.7 billion by 2034. This progress is anticipated to be marked by a compound annual growth rate (CAGR) of 4.3% from 2024 to 2034.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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