The rising demand for customized containers from the food and beverages industry and the household products industry is expected to propel the global market for bag-in-box containers. Advanced technology has helped various industries in many ways. The rising food and beverages industry has led to the growth of the packaging containers market. Amongst the various types of packaging containers available in the global market, the demand for bag-in-box containers is increasing at a rapid pace. In the food and beverages market, manufacturers of alcoholic beverages, non-alcoholic beverages, and liquid foods are concentrating on using bag-in-box containers.
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Use of Bag-in-box Containers for Wine Packaging Continues to Increase
The sales of bag-in-box containers are expected to reach US$2.7 bn by 2016. With the rising variety of containers being introduced by the manufacturers, the global market is expected to be highly competitive in the years to come. The demand for bag-in-box containers is expected to increase from manufacturers of industrial liquids such as battery acids and chemicals. As these containers offer better protection to the products, they are being increasingly used as an alternative to plastic packaging containers.
In the food and beverage industry, the demand for bag-in-box containers is expected to be the highest for wine packaging. The growing demand for bag-in-box containers for wine packaging is predicted to help the global market achieve sturdy growth. The global bag-in-box containers market is predicted to exhibit a 6.50% CAGR during the period between 2016 and 2024.
The growing global population has led to the growing consumption of household products such as cleaning products, liquid washing products, water, and cosmetics. Considering their many benefits, many manufacturers of household products are using bag-in-box containers to keep their products safe. The use of bag-in-box containers for household products is expected to register the fastest growth in the coming years. This segment is predicted to exhibit a steady CAGR of 8.80% during the period from 2016 to 2024.
Customized bag-in-box Containers Dominate Market
Amongst all the available bag-in-box containers, custom-made containers have gained the maximum demand. Manufacturers are focusing on introducing new containers considering the changing consumer trends. As far as materials for manufacturing bag-in-box containers are concerned, low-density polyethylene (LDPE), ethylene vinyl alcohol (EVOH), and ethylene vinyl acetate (EVA) are some of the most popular. The use of low-density polyethylene for manufacturing bag-in-box containers is expected to increase consistently owing to the rising demand from the food and beverages industry.
Regionally, the global bag-in-box containers market is divided into Asia Pacific, Latin America, the Middle East and Africa, North America, and Europe. Latin America is predicted to exhibit an 8.0% CAGR from 2016 to 2024. However, the Europe bag-in-box containers market is predicted to be the most promising market globally. The rising demand for bag-in-box containers from India and China is expected to propel the Asia Pacific market.
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With many key companies concentrating on introducing new containers, the global market for bag-in-box containers is expected to be highly competitive in the coming years. Some of the key players operating in the global market are Smurfit Kappa Group, Amcor Limited, Scholle IPN, Vine Valley Ventures LLC, TPS Rental Systems Ltd, DS Smith, Liqui-Box, CDF Corporation, Parish Manufacturing Inc., and Optopack Ltd.