Bag-in-Box Market - Analysis, Outlook, Growth, Trends, Forecasts
DUBAI, United Arab Emirates, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Among various industries using bag-in-box packaging solutions, the beverage sector has emerged dominant. According to a study by Future Market Insights, the beverages sector is expected to account for over 65% of sales in bag-in-box market
| Bag-in-Box Market Size 2022 | US$ 4.0 Bn |
| Bag-in-Box Market Size 2031 | US$ 6.6 Bn |
| Value CAGR (2022-2031) | 5.7 %
|
| Top 3 Countries Market Share 2022 | 39% |
Within the beverages industry, the wine segment holds the largest share.Using bag-in-boxes for packaging wines are particularly handy when it comes to use by an individual. Bag-in-boxes are lightweight than glass bottles commonly used for packaging, and are easier to be stored away.
Europe has emerged as a key market and one of the leading producers of wine. The region has been exhibiting increasing application of bag-in-box for packaging and transportation of premium wines. Even wine experts acknowledge that the wines in bag-in-box have a fully conserved taste.
Manufacturers are adhering to stringent food regulations to ensure the flavor of the wine stays intact. Besides this, hygienic &useful access to the inside content, the plastic film deliberately guards wines against oxygen and light are some of the important aspects that made bag-in-box a foremost packaging solution for wines.
Several industries are opting for bag-in-box packaging solutions as these collapse easily into a flat bag and box which minimizes shipping cost and storage requirements. These factors are expected to enable growth in the market in the coming years.
Key Takeaways from Bag-in-Box Market
Bag-in-box demand will rise steadily, exhibiting a steady growth at 5.7% between 2022 and 2031
Rising demand from various industries will enable the U.S. account for over 86% sales in North America
Increasing wine production will fuel demand from Germany, France, and Italy
After a period of negative growth, sales in U.K. will revive exhibiting, 1.8% y-o-y growth in 2022
China will account for leading share in East Asia, followed by Japan and South Korea
"The rising demand for flexible and sustainable packaging solutions will continue driving sales, especially in food and beverages sector. In order to cater to the rising demand, companies are focusing on various innovations" says FMI analyst.
Additional Equipment Costs Associated with Bag-in-Box Likely to Hamper Growth
Although bag-in-boxes are economical packaging solution compared to traditional packaging alternatives, added equipment costs of bag-in-box are expected to limit their sales.Costs associated with bag-in-box containers are anticipated to adversely affect the demand for bag-in-box, especially in emerging economies.
Impact of COVID-19 on Bag-in-Box Market
With surge in challenging conditions during COVID-19 pandemic, the sales of bag-in-box has decline substantially across the globe. Therefore, the Y-o-Y growth rate in the year 2022 end has been lowered by nearly 1.3% in compare with 2031.Moderate negative influence in the demand for bag-in-box amongst beverage, food, and chemical segments has been observed, due to difficulties in the maintaining supply chains.
Opposing to this a study by packaging company Smurfit Kappa Group in association with Wine Intelligence uncovered that bag-in-box wine products had 3.7 million new customer sin France and the UK during the last six months of 2020.This is mainly due to people have increasingly shifted to drinking and enjoining at home due to the limitations caused of the pandemic.
Who is winning?
Smurfit Kappa Group plc, DS Smith plc, Amcor plc, Liqui-Box Corporation, Scholle IPN, CDF Corporation, TPS Rental Systems Ltd, Op to pack Ltd., NWB Finland Oy, Aran Group and among others are the prominent players in the global bag-in-box market. The Tier 3 players in the market hold 50-60% in the global bag-in-box market.
Companies operating in the market are focusing on innovations to cater to the rising demand. For instance:
In September 2022, Smurfit Kappa launched innovative new Vitop® Blue tap for Bag-in-Box cleaning products which was first being used for Bag-in-Box hand sanitizer packaging – one of the most sought-after products during the Covid-19 pandemic.
Mondi Styria have launched a pair of next-generation films developed for multi layer BIB products used to package liquid food products and more.
Scope of Report
| Attribute | Details |
| Forecast Period | 2022-2031 |
| Historical Data Available for | 2016-2021 |
| Market Analysis | US$ Million for Value and Mn Units for Volume |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa |
| Key Countries Covered | US, Canada, Brazil, Mexico, Germany, Spain, Italy, France, U.K., BENELUX, Netherlands, Nordics, Russia, Poland, China, Japan, India, GCC Countries, South Africa, Australia |
| Key Segments Covered | Capacity, Material, End Use and Region |
| Key Companies Profiled | Smurfit Kappa GroupLiqui-Box Corporation (DS Smith Plc.)
Amcor plc Scholle IPN CDF Corporation TPS Rental Systems Ltd Optopack Ltd. NWB Finland Oy Aran Group TriMas Company (Rapak) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Post time: Aug-02-2022