Impact of COVID-19 on Economy, Industry and Company The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
"The demand for Bag-in-box containers Market was estimated at US$ 3.5 Bn in 2019. It is projected to witness a CAGR of 6.4% during the forecast period (2020-2028)."
In the Bag-in-box container market, the growth of the market can be attributed to the growing product adoption in industry segments such as food and beverages, household cleaners, and milk and dairy products.
The bag-in-box container market has been witnessing a soaring demand from the wine industry. The production of wine is expected to register a steady growth as the manufacturers are adopting advanced packaging solutions such as bag-in-box containers and other new alternatives available in the market.
Growth in Consumption of Alcoholic Beverages in Developed Economies is expected to drive the Growth of Bag-In-Box Containers Market.
The growing demand for household products such as cleaners and increasing consumption of household cleaners such as surface cleaners and surface deodorizers are expected to drive the demand for bag-in-box containers in this segment. This market is expected to be driven by demand for low-foam detergents that are being packaged in bag-in-box containers. The demand for the bag-in-box container is expected to be hampered by the growth in the substitute products available in the market such as plastic containers and bottles.
The global market for bag-in-box container has several key players that are involved in technology development in terms of packaging and design solutions. Rising demand among consumers for innovative packaging designs for food and beverage products to catch the attention of consumers is expected to have a positive and great impact on market growth over the forecast period.
By Application, Food and Beverage are Expected to Witness High Demand during the Forecast Period (2020-2028).
Food and beverage had accounted for a significant share of xx% in 2019 and is expected to remain dominant during the forecast period. The food and beverage application segment plays a vital role in the growth of the bag-in-box market and accounts for the maximum revenue share. In addition to this, factors such as rising disposable income and health concerns among consumers in developing countries are expected to drive the demand for various packaging alternatives available in the market.
Improved lifestyle, higher disposable income, as well as growing awareness about healthier food products has resulted in a heightened demand for packaged foods and healthier foods. This ultimately boosts innovation in packaging solutions. Moreover, manufacturers are adding more options to their food products such as innovative packaging, healthier product lines, and these factors drive the adoption of bag-in-box containers resulting in high market growth during the forecast period.
By Material Type, Plastic is expected to Witness High Demand during the Forecast Period
Plastic accounted for a significant share of XX % of the global Bag-in-box market in 2019 and is expected to remain dominant during the forecast period.
The demand for the bag-in-box container is expected to be increased by the growth in the substitute product market such as plastic bottles. The availability of plastic bottles at lower prices is expected to hinder the growth of the market. The increasing demand for plastic bottles by the soft drink industry is expected to increase the growth of the market for bag-in-box containers.
Bag-in-box containers face a high threat of substitution from other packaging materials. Plastics are highly preferred by the industries for their convenience of use and portability. These factors contribute to the growth of the plastic Bag-in-box container market across the globe.
Asia Pacific is Likely to Dominate the Global Bag-In-Box Containers Market during the Forecast Period (2020-2028).
Asia Pacific is expected to grow at the fastest rate over the forecast period (2020-2028). Asia Pacific led by, India, China, and Australia, Japan, and South Korea, bag-in-box container market is anticipated to experience significant growth. Growing food and beverage market in Asia Pacific is expected to have a positive impact on the bag-in-box container market growth in upcoming years. Increasing industrialization in countries such as China and India coupled with rising adoption of packaged food and beverage products in the region is expected to increase demand.
In Asia pacific region, changing consumption patterns of the consumers, high levels of urbanization coupled with the increasing popularity of packaging is expected to increase market demand. Increasing investments in R&D by the packaging manufacturers to enable the incorporation of new features including size, the shape is likely to boost the demand of bag-in-box containers in specific regions during the forecast period.
Increasing the health concerns of consumers in Asia Pacific regions and high demand for hygienic products is likely to drive the market for bag-in-box containers market. Increasing demand of the packaged nutritional food products, offering benefits such as food safety and quality at reasonable prices is likely to drive the market in Asia.
Companies such as Scholle IPN, CDF Corporation, Vine Valley Ventures LLC, Smurfit Kappa Group, DS Smith, Amcor Limited, Liqui-Box, Parish Manufacturing Inc., TPS Rental Systems Ltd., and Optopack Ltd. among others are involved in the production of bag-in-box containers on a large scale through high capacity production lines and large number of production facilities spread across the globe. The companies operate a large number of a product portfolio comprising products across multiple application segments.
Bag-in-box containers Market Segmentation:
- Food & Beverages
- Alcoholic Beverages
- Nonalcoholic Beverages
- Industrial Liquids
- Industrial Fluids
- Petroleum Products
- Household Products
- Household Cleaners
- Liquid Detergents
By Material Type
- Paper & Paperboard
- North America
- Asia Pacific
- Latin America
- Middle East & Africa