DUBLIN--(BUSINESS WIRE)--The "Bag-in-Box Market by (Semi-liquid, Liquid), Capacity (<1 liter, 3-5 liters, 5-10 liters, 10-20 liters, >20 liters), Component (Bags, Boxes, Fitments), Tap (With tap, Without tap), End-use Sector, Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The Bag-In-Box market is projected to grow from USD 1.6 billion in 2019 to USD 1.9 billion by 2024, at a CAGR of 3.8%.
The global bag-in-box market has witnessed high growth, primarily because of the increasing preference for wine packaging worldwide. Rising demand for sustainable packaging, along with the growing consumption of packed food & beverages, will contribute to the increasing growth of the bag-in-box market over the next few years. However, stringent regulations imposed on flexible packaging, along with the availability of cheaper substitutes, may hinder the growth of the bag-in-box market.
In terms of both value and volume, the beverage segment is projected to grow at a higher CAGR during the forecast period.
The beverages segment, by end-use sector, is projected to grow at a higher CAGR during the forecast period, in terms of value and volume. Bag-in-box for beverages provides lightweight, sustainable, easy to handle, protection from contamination, and easy transportation; these factors make bag-in-box an ideal choice in beverage packaging.
In terms of both value and volume, the European bag-in-box market is projected to contribute the maximum share during the forecast period.
In terms of value, the European region is projected to lead the bag-in-box market from 2019 to 2024, due to the strong demand from countries such as the UK, France, Italy, and Spain. This demand in these mentioned countries is due to the tremendous growth of wine production and consumption in these countries. The demand is also driven by the increase in sustainable packaging awareness among developed countries. In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the bag-in-box market.
Market Dynamics
Drivers
- Increasing Consumption of Alcoholic Beverages
- Rise in Demand for Packaged Foods & Beverages
- Need for Environmentally Safer and Sustainable Packaging
- Brand Enhancement and Better Aesthetics on Shelf
Restraints
- Availability of Cheaper Substitutes
- Stringent Government Regulations
Opportunities
- Development of New, Innovative Materials Giving Rise to New Applications
- E-Commerce Retail Packaging
- Penetration of Packaged Food Products in Asia
Challenges
- High Cost of Production
- Lack of Product Awareness in Many Emerging Economies
Companies Profiled
- Smurfit Kappa
- DS Smith plc
- Liqui-Box Corp.
- Scholle IPN Corp.
- CDF Corporation
- Aran Group
- Fujimori Kogyo Ltd.
- Goglio S.P.A
- SLF Packaging
- Optopack Ltd.
- Amcor Ltd.
- TPS Rental Systems
- Arlington Packaging
- Bernhardt Packaging
- Vine Valley Ventures LLC (Astrapouch)
- LGR Packaging
- LD Packaging
- Hearthside Food Solutions
- Aspla-Platicos Espanoles S.A
- Westrock Company
For more information about this report visit https://www.researchandmarkets.com/r/iezua3
