Transparency Market Research provides key insights on the global bag-in-box containers market, in its newly published report, for the forecast period of 2019-2027. In terms of value, the global bag-in-box market is projected to clock a CAGR of ~ 5% during 2019-2027. This is due to several factors, about which, TMR provides key insights and forecasts.
Key Factors Influencing the Bag-in-box Containers Market
Bag-in-box containers are a type of packaging containers that comprise a bladder (plastic bag), generally made up of low-density polyethylene (LDPE), ethylene vinyl acetate, etc., and are placed inside corrugated boxes. The overall bag-in-box container assembly consists of a bladder, corrugated box, fitment, tap, etc. Bag-in-box containers are widely used for the packaging of food & beverage products, household products, and industrial liquid products.
There are various factors that are expected to drive the global bag-in-box containers market during the forecast period. Rising demand from the wine industry is catapulting the demand for bag-in-box containers, globally. Wine producers are inclined towards the use of bag-in-box containers for wine packaging, as they offer various advantages over glass bottles, are easy to pack and distribute, and cost-efficient too. Also, the oxygen transmission rate (OTR) of packaging is a prime factor in determining the overall quality of wine. Bag-in-box containers offer a low oxygen transmission rate over glass bottles, and thus, are widely preferred by wine producers across the globe.
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Bag-in-box containers are 30–45% more cost-effective as compared to conventional liquid packaging options such as metal and glass. Bag-in-box containers are lightweight, which, in turn, reduces overall transportation and handling costs. Also, high barrier films are used as bladders in bag-in-box containers to help food & beverage product manufacturers extend the shelf life of their products. The extended shelf life of products allows retailers to increase shelf display time and help minimizes product wastage. The aforementioned attributes are collectively expected to drive the demand for bag-in-box containers over the following five to seven years.
The factor that might hamper the growth of the global bag-in-box containers market is the use of alternative solutions in the market. One such packaging product is a cubitainer. A cubitainer is a cube-shaped liquid handling product made of LDPE. When empty, a cubitainer is in a collapsed flat shape, and inflates into the shape of a cube when liquid is poured into it. Cubitainers are best suited for liquids, condiments, and other similar products.
Target Regions to Capture Bag-in-box Containers Market Growth
Europe is expected to represent prominent revenue growth during the next eight years. Also, Europe is expected to hold a prominent market share in the global bag-in-box containers market throughout the forecast period. The well-established wine industry in European countries such as France, Italy, the U.K., and Sweden is expected to be the major contributor to the high consumption of bag-in-box containers in the region. Also, the rising trend of luxury packaging in various industries such as cosmetics, personal care, food, and others is pushing the bag-in-box containers market growth in the European region. North America is also an important consumer of bag-in-box containers, closely followed by Asia Pacific. The Asia Pacific region is expected to create high revenue growth, owing to rising industrialization, changing consumer preferences, and growing trend towards different packaging formats in bag-in-box containers packaging. India and China are the major countries to focus in the region. The surge in the demand for bag-in-box containers is expected to be fuelled primarily by increasing disposable income and per-capita spending power of upper middle-class families.
Bag-in-box Containers Market: Competition Landscape
The TMR report includes a detailed competition landscape, which includes the profiles and assessment of key players operating in the global bag-in-box containers market. Key manufacturers of bag-in-box containers profiled include Smurfit Kappa Group, DS Smith, Amcor Limited, Liqui-Box, Scholle IPN, CDF Corporation, Vine Valley Ventures LLC, Parish Manufacturing Inc., TPS Rental Systems Ltd., and Optopack Ltd. among others.
Leading players in this landscape are competing on innovation and expansion in plastic packaging facilities as well as upgrading their manufacturing technologies to maintain their stronghold in the market. For example, in January 2019, Smurfit Kappa launched a new high-speed, triple head, and automatic filling machine that can fill up to 45 3-liter packs of bag-in-box containers per minute. In March 2019, Liqui-Box announced that it would acquire DS Smith’s plastic division to upscale its position in the flexible and rigid packaging industry.
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Other competitors in the bag-in-box containers market are adopting strategies to capitalize on the increasing growth of the wine industry by introducing more efficient and safer packaging solutions. The wine industry has been voicing the need for hygienic and high-standard packaging solutions for improving the shelf life of bag-in-box wine, and this will continue to have a significant impact on the upcoming strategies of emerging players in the market. In addition, profitable sales opportunities in the dairy industry and juice industry are expected to create new avenues of growth for new entrants in the bag-in-box containers landscape.
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