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The bag-in-box packaging format accounts for 12% of global alcohol packaging market worth US$ 36 billion in 2022.
As per the FMI analysis, bag-in-box solutions having capacity between 151 to 750 liters and above 751 Liters are expected to account for almost half of the total bag-in-box packaging products sold globally in 2022. Among various industries using bag-in-box packaging solutions, the beverage sector has emerged dominant. According to a study by Future Market Insights, the beverages sector is expected to account for over 65% of sales in bag-in-box market.
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Manufacturers are adhering to stringent food regulationsto ensure the flavor of the wine stays intact. Besides this, hygienic &useful access to the inside content, the plastic film deliberately guards wines against oxygen and light are some of the important aspects that made bag-in-box a foremost packaging solution for wines.
Several industries are opting for bag-in-box packaging solutions as these collapse easily into a flat bag and box which minimizes shipping cost and storage requirements. These factors are expected to enable growth in the market in the coming years.
Key Takeaways from Bag-in-Box Market
“The rising demand for flexible and sustainable packaging solutions will continue driving sales, especially in food and beverages sector. In order to cater to the rising demand, companies are focusing on various innovations” says FMI analyst.
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Additional Equipment Costs Associated with Bag-in-Box Likely to Hamper Growth
Although bag-in-boxes are economical packaging solutioncompared to traditional packagingalternatives, addedequipment costs of bag-in-box are expected to limittheir sales.Costs associated with bag-in-box containers are anticipated to adversely affect the demand for bag-in-box, especially in emerging economies.
Impact of COVID-19 on Bag-in-Box Market
Withsurge in challenging conditions during COVID-19 pandemic, the sales ofbag-in-boxhas declinesubstantially across the globe. Therefore, the Y-o-Y growth rate in the year 2022 end has been lowered by nearly 1.3% in compare with 2031.Moderate negative influence in the demand for bag-in-boxamongstbeverage, food, and chemical segments has been observed, due to difficulties in the maintaining supply chains.
Opposing to this a study by packaging company Smurfit Kappa Group in association with Wine Intelligence uncoveredthat bag-in-box wine productshad 3.7 million new customersin France and the UK during the last six months of 2020.This is mainly due to people have increasingly shiftedto drinking and enjoining at home due to the limitations caused of the pandemic.
Smurfit Kappa Group plc, DS Smith plc, Amcor plc, Liqui-Box Corporation, Scholle IPN, CDF Corporation, TPS Rental Systems Ltd, Optopack Ltd., NWB Finland Oy, Aran Group and among others arethe prominent players in the global bag-in-box market. The Tier 3 players in the market hold 50-60% in the global bag-in-box market.
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Companies operating in the market are focusing on innovations to cater to the rising demand. For instance:
Future Market Insights, in its new report, offers an unbiased analysis of the global bag-in-boxmarket, analyzinghistorical demand from 2016-2021 and forecast statistics for 2022-2031. The study reveals growth projections on the bag-in-boxmarket on the basis of capacity (less than 5 litres, 5 – 10 litres, 10 – 15 litres, 15 – 20 litres and more than 20 litres),
material (paper &paperboard and plastic(LDPE, ethylene vinyl acetate, metallized-PET, ethylene vinyl alcohol, nylon, and others))and end use (food (dairy products, sauces, vinegar & flavoring, and liquid egg products), beverages (alcoholic beverages, non-alcoholic beverages, water, and others), chemicals, petroleum, home care, and cosmetics & personal care) acrossseven regions of the globe.
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The post Bag-In-Box Market Value Is Estimated At US$ 4.0 Bn In 2022 And Is Projected To Reach US$ 6.6 Bn By 2031 appeared first on Future Market Insights.
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