Bag-in-box containers are utilized for the transportation and storage of a plastic bag, primarily made out of a number of layers of metallized film or other kinds of plastics, placed inside a corrugated fiberboard box. The bags can be filled with products to be stored at chilled temperatures of up to 85 degrees. Bag-in-box containers have a number of commercial applications. Manufacturers operating in the global bag-in-box containers market are providing economical solutions for applications such as cereals, liquid detergents, smoothies, and dairy products. The increasing demand for convenient and aseptic packaging from consumers is a key factor fuelling the growth of the market for bag-in-box containers.
Launch of Cubitainers a Key Threat to Growth of Market
Though the sales of bag-in-box containers are predicted to value US$2.7 bn by 2016 end, the market is expected to encounter a key challenge from the launch of competitive substitute products including cubitainers. However, the increasing employment of these bag-in-box containers in wine packaging applications may overcome this challenge, pushing the market to rise at a 6.50% CAGR between 2016 and 2024.
Low-Density Polyethylene Bag-in-Box Containers Hold Largest Share
On the basis of material type, the market is categorized into low density polyethylene (LDPE), ethylene vinyl acetate (EVA), ethylene vinyl alcohol (EVOH), and others, including nylon, poly-butylene, and terephthalate. Of these, the segment of low-density polyethylene is the most commonly utilized material for bag-in-box containers and constitutes a significant share in the market due to its rising demand in food and beverage packaging and in household products. Ethylene vinyl alcohol material is also poised to hold a prominent share in the market in the coming years due to its oxygen barrier properties.
Use of Bag-In-Box Containers Highest in Food and Beverages Sector
In terms of end use, the global bag-in-box containers market is segmented into food and beverages, household products, and industrial liquid products. Amongst these, the segment of food and beverages is further categorized into liquid food, non-alcoholic beverages, and alcoholic beverages. On the other hand, the segment of industrial liquid products is further categorized into battery acids, chemicals, and others, while the segment of household products is further categorized into cosmetics, water, and liquid washing and cleaning products, among others.
Amongst the end-use segments, the sector of food and beverages currently leads the market. On the other hand, the segment of household products is predicted to experience the most exponential growth in the coming years, expanding at a CAGR of 8.80% from 2016 to 2024.
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Latin America Bag-In-Box Containers Market to Exhibit 8.0% CAGR 2016-2024
Geographically, the bag-in-box container market is segmented into Europe, North America, Latin America, the Middle East and Africa, and Asia Pacific (APAC). Of these, Europe leads the market on the basis of both volume and value. On the other hand, the region of Latin America is predicted to experience a significant demand in the coming years, exhibiting an 8.0% CAGR between 2016 and 2024. In the MEA, this market is expected to experience moderate development in forthcoming years.
The prime players operating in the market are CDF Corporation, Amcor Limited, Optopack Ltd, Smurfit Kappa Group, TPS Rental Systems Ltd, DS Smith, and Scholle IPN, among others.