USD 3.77 billion
Report ID: SQMIG25I2006 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: 65 | Figures: 75
Bag-in-box Market size was valued at USD 3.77 billion in 2021 and is poised to grow from USD 4.02 billion in 2022 to USD 7.21 billion by 2030, growing at a CAGR of 6.7% in the forecast period (2023-2030).
The increasing product adoption in market areas like alcoholic drinks, household cleaning, and milk and dairy products can be credited with the industry's expansion. The makers of packaging products are aiming to satisfy the unmet needs of millennials in the modern market in order to give them the best product in their preferred packaging. An illustration of the transition from conventional wine packaging options to cutting-edge bag-in-box packaging for all types of wines is the enormous surge in demand for this packaging across the rapidly expanding wine sector.
Many wine producers have upgraded to better and more effective packaging options because of bag-in-box packaging's affordability, recyclability, sustainability, and light weight.
Bag-in-box packaging also has a low oxygen transfer rate, which keeps wine from losing its quality and making it a popular choice for wine packaging around the world. Thus, the expansion of the worldwide bag-in-box market and an increase in demand for bag-in-box containers are both directly related to the growth of the wine business globally.
US Bag-in-box Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.77 billion
Food & Beverages
Food & Beverages
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The global bag-in-box market is segmented based on application, type, and region. Based on application Bag-in-box Market is segmented into food & beverages, household products, industrial liquids, and others. Based on type Bag-in-box Market is segmented into: low density polyethylene (LDPE), Ethylene vinyl alcohol, ethylene vinyl acetate, and others. Based on region, Bag-in-box Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Bag-in-box Market Analysis by Application
In 2021, the market was dominated by the food and beverage application sector, which accounted for 68% of total revenue. The need for hygienic packaging solutions is also anticipated to increase due to elements like increased disposable income and health issues among the elderly population in emerging nations. A better way of life, more money to spend, and increased knowledge of healthier products have all contributed to an increase in demand for food and beverage products. Over the course of the projected period, the development of packaging options that make it simple for customers to consume them and the production of numerous new soft drinks will emerge as key growth drivers.
Additionally, producers are expanding their product lines with wholesome items, better snack options, and creative packaging, which is encouraging consumers to use bag-in-box containers and growing the market. Consumers' growing worries about personal hygiene and the expanding use of domestic cleaning products are anticipated to drive market expansion over the coming years. The market in this sector is anticipated to grow as consumer demand for domestic cleansers including fabric fresheners and surface deodorizers increases.
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Over the course of the forecast period, the expansion of the bag-in-box container business is expected to benefit from the expanding food and beverage market in Asia Pacific. Demand is anticipated to increase over the forecast period as a result of expanding industrialisation in nations like India and China and rising use of packaged food and beverage items in the region. Due to the advent of eco-friendly household cleaning solutions, household products have become another significant market category. The market is anticipated to be driven by technical developments, such as automatic dishwashing products.
The expansion of the product in the food and beverage sector is predicted to increase demand for bag-in-box containers in Europe. Different kinds of packing in bag-in-box containers are being prioritised by rapidly urbanising and industrialising nations. Over the course of the projected period, it is anticipated that changing consumer consumption patterns and high levels of urbanisation, along with the rising popularity of such packaging, will boost market growth.
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Bag-in-box Market Driver
Bag-in-box Market Restraint
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The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our bag-in-box market reports, some of the leading luxury bag-in-box manufacturers are as follows: Amcor Ltd. (Australia), Smurfit Kappa (UK), DS Smith (UK), Liquibox (US), Scholle IPN (Australia), CDF Corporation (US), Arlington Packaging (Rental) Limited (UK), CENTRAL PACKAGE & DISPLAY (US), Accurate Box Company, Inc (US), TPS Rental System Ltd (UK), Optopack Ltd (France), Zarcos America (US), Aran Group (US), BiBP Sp. z O.O (Poland), SLF INDUSTRY AND TRADE CO., LTD. (New Zealand)
Top Players in the Global Bag-in-Box Market
Bag-in-box Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, by application, the food and beverage segment is estimated to have the largest share of the market with more than 68% of the global revenue share. Region-wise, Asia Pacific dominated the market, followed by Europe due to the expanding industrialisation in nations like India and China and rising use of packaged food and beverage items in the area.
|Market size value in 2021||USD 3.77 billion|
|Market size value in 2030||USD 4.02 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Bag-in-box Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Bag-in-box Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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