New York, United States, March 04, 2024 (GLOBE NEWSWIRE) -- 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.
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Growth of the Food and Beverage Industry Drives the Global Market
According to Straits Research, “The global bag-in-box containers market size was valued at USD 3,733 million in 2021. It is projected to reach USD 6,691.7 million by 2030, growing with a CAGR of 6.7% during the forecast period (2022–2030).” 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%, 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.
Key Highlights
- 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.
Competitive Players
The global bag-in-box container market’s major players include Amcor Ltd, Smurfit Kappa Group, DS Smith, Scholle IPN, and Liqui Box.
Market News
- In 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.
- In 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.
Global Bag-in-Box Containers Market: Segmentation
By Applications
- Food and Beverage
- Household Products
- Industrial Liquid
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
Get Detailed Market Segmentation @ https://straitsresearch.com/report/bag-in-box-containers-market/segmentation
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