LONDON--(BUSINESS WIRE)--The bag-in-box packaging market is poised to grow by USD 623.23 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The global consumption of packaged beverages was approximately 1,120 billion liters in 2017. During the forecast period, the consumption of packaged beverages will witness an average annual growth rate of around 2.8%. Globally, the consumption of packed water and fruit juices is expected to increase owing to the growing health consciousness among people. The consumption of packaged milk and dairy-based beverages is also witnessing an increase. In 2017, around 170 billion liters of packaged milk and dairy-based beverages were consumed worldwide. Hence, this increase in global consumption of packaged beverages will drive the demand for bag-in-box packaging as it provides hygienic and convenient dispensing over other types of packaging.
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As per Technavio, the growing need for sustainable packaging will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Bag-in-box Packaging Market: Growing Need for Sustainable Packaging
Various end-user industries have been adopting sustainable packaging solutions due to the ban on plastic and plastic-related products in many countries. This is expected to increase the demand for bag-in-box packaging during the forecast period. The outer covering of bag-in-box packaging comprises of a corrugated carton that is 100% recyclable. The inner bag of bag-in-box packaging is usually made up of polyethylene film that had a recycling rate of around 31% in Europe in 2017. The growing need for sustainable packaging will be one of the major trends in the global bag-in-box packaging market during the forecast period.
“Factors such as the increasing wine consumption in China, and innovations in bag-in-box packaging will have a positive impact on the growth of the bag-in-box packaging market value during the forecast period,” says a senior analyst at Technavio.
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Bag-in-Box Packaging Market: Segmentation Analysis
This market research report segments the bag-in-box packaging market by application (beverages, industrial liquids, and household liquids) and by region (Americas, APAC, and EMEA).
The APAC region held the largest share of the market in 2018, followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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