The global bag-in-box container market size is projected to reach USD 4.78 billion by 2025 expanding at a CAGR of 6.3%, according to a new report by Radiant Insights, Inc. Increasing consumption of alcoholic beverages has emerged as a key factor fueling the demand for bag-in-box containers in the food & beverage industry. Rising demand from the household products application, particularly for the packaging of surface cleaners and surface deodorizers, will also propel the market growth in the coming years. Growing urban population across the globe has further contributed to the industry growth owing to increased demand for hygiene and personal care products.
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Packaging of low-foam detergents in bag-in-box containers coupled with rising demand for these detergents is also likely to have a positive impact on the market growth. Europe has witnessed a considerable demand for the product in the recent years. This growth was attributed to the increased consumption of cooking oils and sauces and the well-established food sector in the region. In addition, rising preference for organic and healthy food will also help boost market expansion. 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.
Further key findings from the study suggest:
• Low-Density Polyethylene (LDPE) held the largest market share in 2018 and is expected to be the second fastest-growing material segment over the forecast period
• The food & beverages application segment accounted for the largest share in 2018 owing to an increased consumption of alcoholic beverages across the globe
• Household products segment is anticipated to witness the fastest CAGR over the forecast period on account of rising product application scope in the packaging of cleaning products
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• APAC is expected to be the fastest-growing regional market over the forecast period due to increasing exports by counties like Japan, China, and India
• China, in particular, is anticipated to register the highest CAGR of 8.2% from 2019 to 2025 as a result of rising income levels and intense regional competition
• Prominent companies in the global bag-in-box market include Amcor Ltd.; DS Smith; Liqui Box Corp.; Parish Manufacturing, Inc.; Scholle IPN; CDF Corp.; and Smurfit Kappa Group
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