According to a new report published by Allied Market Research, titled, “Bag-in-Box Container Market," The bag-in-box container market size was valued at $3.9 billion in 2021, and is estimated to reach $7 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
The components of Bag-in-box containers are basically made of two materials that are plastic and paper & paperboard. Between these, the plastic segment accounted for the highest market share in 2021, owing to its higher usage during the manufacturing of bag-in-box manufacturing. The market is analyzed with respect to different applications of bag-in-box containers, such as semi-liquid, liquid, and dry. Among these, the liquid segment is expected to grow with highest CAGR, owing to rise in beverage industry. Furthermore, on the basis of end user industry, the market is analyzed on the basis of food & beverage, industrial, personal care, and others. Among these, the food & beverage industry is expected to grow with highest CAGR, owing to increased demand via online food retail. The market is mainly driven by rise in food & beverage sector and surge in demand for personal care products. However, high manufacturing cost of bag-in-box containers constraints the bag-in-box container market growth.
In 2021, North America dominated the global bag-in-box container market share, in terms of revenue, followed by Europe and Asia-Pacific. Moreover, the market in LAMEA is anticipated to grow with high CAGR, owing to growth in use of bag-in-box container for pharmaceutical and food & beverage industries.
The advancements in technology that have enabled bag-in-box manufacturers to manufacture bags that do not release its smell in the products contained. Moreover, introduction of new production lines that can automatically insert the bag in the box are expected to provide lucrative opportunities for the bag-in-box container market growth.
Furthermore, key players in the bag-in-box container market adopted various strategies to sustain the harsh competition. And product launch is one of the most common growth strategies among the key players.. For instance, in March 2021, Smurfit Kappa, a global provider of packaging and bag-in-box containers, introduced new light 60-micron EVOH film – E Compact 60. This is expected to help the company to achieve the objectives of sustainability and reduce the amount of plastic used to manufacture bags.
However, during the pandemic lockdown, various service providers of bag-in-box had to stop their business in countries such as China, the U.S., and India. This break directly impacted their sales. In addition, lack of manpower and constricted supply of raw materials for packaging have negatively influenced the growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, the severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
Key companies profiled in the bag-in-box container market forecast report include ABCO Automation, Inc., Accurate Box, Amcor plc, Aran Group, Arlington Packaging (Rental) Limited, BiBP Sp. z O.O, CDF Corporation, Changzhou Kaiguan Packaging & Technology Co., Ltd., DS Smith Plc, Liquibox, Optopack, Scholle IPN, Smurfit Kappa Group plc, TPS Rental System Ltd, Vine Valley Ventures LLC, Yantai Fushan Nanhua Packing Factory, and Zacros America, Inc.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging bag-in-box container market trends and dynamics.
- Depending on material, the paper & paperboard segment dominated the bag-in-box container market, in terms of revenue in 2021.
- By application, liquid segment is anticipated to witnessed a surge during the forecast period.
- By end user industry, food & beverage industry is expected to grow with a higher CAGR.
- Asia Pacific is projected to register highest growth rate in the coming years.
- The key players within the bag-in-box container market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the bag-in-box container industry.
- The report provides an extensive analysis of bag-in-box container market overview and bag-in-box container market outlook.
- In-depth bag-in-box container market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.