New York, April 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bag-in-box Containers Global Market Report 2023" - https://www.reportlinker.com/p06251040/?utm_source=GNW
, and TPS Rental Systems Ltd.
The global bag-in-box containers market is expected to grow from $3.81 billion in 2022 to $4.06 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bag-in-box containers market is expected to grow to $5.27 billion in 2027 at a compound annual growth rate (CAGR) of 6.8%.
The bag-in-box containers market consists of sales of metallized polyester, teflon, polyethylene terephthalate, and ethylene-vinyl alcohol copolymer.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Bag-in-box containers refer to a container type that can hold both dry and liquid products.The contents are put into a flexible bag, which is then put inside a (usually cardboard) box.
A bag-in-box is a kind of container for the distribution and preservation of liquids and is a viable option for packaging juice, liquid eggs, dairy, wine and even non-food products such as motor oil and chemicals.
North America was the largest region in the bag-in-box containers market in 2022. The regions covered in the bag-in-box containers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The bag-in-box containers market covered in the report is segmented by material type into low-density polyethylene, ethylene vinyl acetate, ethylene vinyl alcohol, and others (nylon, polybutylene terephthalate); by capacity into less than 5 litres, 5-10 litres, 10-15 litres, 15-20 litres, more than 20 litres; by application into food & beverages, industrial liquids, household products, others.
The increasing demand for bag-in-box containers is expected to fuel the growth of the bag-in-box containers market in the coming years.A bag-in-box is a kind of container for the distribution and preservation of liquids and is a viable option for packaging of juice, liquid eggs, dairy, wine, and even non-food products such as motor oil and chemicals.
According to findings by packaging pioneer Smurfit Kappa in conjunction with Wine Intelligence in 2020, Bag-in-Box wine has drawn 3.7 million new buyers in France and the United Kingdom over the last six months. In 2020 the Bag-in-Box wine consumer sector has risen to around 12 million buyers in France and 4 million buyers in the UK. Therefore, the increasing demand for bag-in-box containers is expected to drive the growth of the bag-in-box containers market during the forecast period.
The increasing demand for plastic bottles in the soft drink industry is expected to hamper the growth of the bag-in-box containers market in the coming years.Plastics tend to do more with less in many aspects, and when it comes to packaging, plastics frequently allow producers to deliver more goods with less packaging content.
The highly flexible, lightweight containers built of plastic or plastic-and-foil composites can use up to 80% fewer materials than conventional bag-in-box containers.For instance, around 3 million tonnes of plastic bottles (close to 200,000 bottles per minute) are manufactured annually by the drinks giant Coca-Cola.
Therefore, the increasing demand for plastic bottles in the soft drink industry restrains the growth of the bag-in-box containers market.
The growing number of technological advancements is a major trend gaining popularity in the bag-in-box container market.Major companies operating in the bag-in-box container sector are focusing on developing technologically advanced solutions for bag-in-box containers.
For instance, in April 2021, Scholle IPN India Packaging Pvt. Ltd., an India-based packaging company that specializes in creating and producing bag-in-box and pouch packaging, launched bag-in-box packaging for water based on Scholle IPN’s proprietary film technology. This bag with two layers of film and a polyethylene closure was put to the test by PFE. Scholle IPN’s RecShield® barrier film is used in the outer layer to prevent undesirable flavors from leaking through the film and into the water. The inner layer consists of Scholle IPN’s proprietary film technology, known as 2PureTM, which contains scavenging technology that protects the taste of the packaged water and can be recyclable and reduce environmental pollution.
In February 2020, Liqui Box Corp, a US-based packaging company acquired DS Smith for an undisclosed amount.The acquisition of DS Smith’s flexible packaging businesses provides a strong platform to further expand Liquibox’s leading value proposition into emerging growth markets, such as coffee, tea, water, and aseptic packaging.
DS Smith, a UK-based provider of corrugated packaging for consumer and industrial goods.
The countries covered in the bag-in-box containers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The bag-in-box containers market research report is one of a series of new reports that provides bag-in-box containers market statistics, including bag-in-box containers industry global market size, regional shares, competitors with a bag-in-box containers market share, detailed bag-in-box containers market segments, market trends and opportunities, and any further data you may need to thrive in the bag-in-box containers industry. This bag-in-box containers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06251040/?utm_source=GNW
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