New York, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bag-in-Box Container Market Size, Share & Trends Analysis Report By Application, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p05868790/?utm_source=GNW
Bag-in-Box ContainerMarket Growth & Trends
The global bag-in-box container market size is projected to reach USD 6.77 billion by 2030, registering a CAGR of 6.7% over the forecast period. The increasing consumption of alcoholic beverages has emerged as a major driving factor fueling demand for the application of bag-in-box containers in the food & beverage industry. The growth of the industry is also fueled by the shift in consumption patterns towards natural food products across the globe.
Another important factor bolstering the demand for bag-in-box containers is the increasing consumption in the household products industry.In this regard, household products, most notably surface cleaners and surface deodorizers are being increasingly packaged using bag-in-box containers.
Growing urban population across the globe has further contributed to the growth of the industry owing to an increasing consumption of hygiene promoting products in households. Furthermore, the industry is driven by the rise in the packaging of low-foam detergents in bag-in-box containers coupled with their rising consumption (low-foam detergents).
Europe has witnessed a considerable surge in the adoption rate (bag-in-box containers) in the recent few years.The demand for the product in this region is principally driven by the food sector and is backed by the increasing demand and consumption of cooking oils and sauces.
In addition, the demand for the product is also augmented by the shift towards organic and healthy food.The region has also been witnessing high demand for convenient and flexible packaging solutions.
This development has been encouraging major food brands operating in the flexible packaging to increase their scale of operation in Europe.
The demand for bag-In-box container in the U.S. is expected to grow due to the presence of well-established food and beverage sector, coupled with high product adoption rates. In addition, presence of numerous manufactures including Smurfit Kappa Group, DS Smith, and Amcor Ltd. is expected to open new avenues for the industry growth over the projected period. The market is characterized by the presence of numerous established players in the market, which mostly operate out of North America with their distribution and manufacturing locations present across the globe. These companies enter into long-term agreements with raw material suppliers to reduce their production costs, ensure constant supply of the materials, and gain competitive edge over other small-scale, local players.
Bag-in-box Container Market Report & Highlights
• The food and beverages segment in the application scope accounted for the largest share of 65.8% in 2021 owing to an increasing consumption of alcoholic beverages across the globe. However, the household products segment is anticipated to grow at the fastest rate over the forecast period backed by increasing application of bag-in-box containers for the packaging of cleaning products
• Asia Pacific is expected to witness the fastest growth over the forecast period. Increasing exports by counties such as Japan, China, and India coupled with rising popularity of flexible packaging products in the region has bolstered the demand for bag-in-box container
• In China, the bag-in-box container industry is anticipated to witness a reasonable CAGR of 8.2% over the forecast period. The increasing demand for convenience food by time-constrained consumers is expected to drive the market growth in China
• The market for bag-in-box represents a highly competitive landscape with a sizable number of players sharing the market space. Some of the key competitive strategies employed by the key players include mergers & acquisitions, expansion of product portfolio, and product innovation
Read the full report: https://www.reportlinker.com/p05868790/?utm_source=GNW
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