According to the new market research report “Bag-in-Box Market by (Semi-liquid, Liquid), Capacity (<1 liter, 3-5 liters, 5-10 liters, 10-20 liters, >20 liters), Component (Bags, Boxes, Fitments), Tap (With tap, Without tap), End-use Sector ,Region – Global Forecast to 2024″, The global bag-in-box market size is projected to grow from USD 1.6 billion in 2019 to USD 1.9 billion by 2024, at a CAGR of 3.8% from 2019 to 2024. The market is projected to grow in accordance with the growth of various end-uses of bag-in-box across the globe. Increasing sustainable packaging trend and the rise in wine production along with growing consumption of packed food and beverages are expected to support market growth during the forecast period.
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In terms of value and volume, the <1 liter capacity segment is estimated to be the fastest-growing in the bag-in-box market in 2019.
The <1 liter segment, by capacity, is projected to be a fastest-growing segment in the bag-in-box market. The market for <1 liter bag-in-box market is growing fastly as these types of small packages are adopted for the storage and transport of liquid food products–juices, concentrates, and pulps that generally require aseptic packages to maintain maximum freshness and long shelf life.
The beverages segment is estimated to be a largest end-use market in the bag-in-box market in 2019.
The beverages segment, by end-use sector, accounted for a larger market size for bag-in-box in 2018, in terms of both value and volume. This dominant market position is attributed to the exponential growth of wine production in developed countries globally. With the boost in wine production, the prefered sustainable packaging for wine consumption has also gone up, which has created an opportunity for the of bag-in-box systems in these market.
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The global bag-in-box market size is projected to grow from USD 1.6 billion in 2019 to USD 1.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast year. The growth of this market is attributed to the need for innovative and sustainable packaging as well as the increasing consumption of alcoholic beverages in developing and developed economies.
The bag-in-box market has been dominated by large players, such as the Smurfit Kappa (Ireland), DS Smith (UK), Liqui-box Corp. (US), and Scholle IPN (US). These players have adopted various growth strategies, such as new product developments and acquisitions, to increase their market shares and enhance their product portfolios.
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New product developments accounted for the largest share of all the strategic developments that took place in the bag-in-box market between January 2017 and December 2019. Key players such as Smurfit Kappa (Ireland) and DS Smith PLC (UK) have adopted this strategy to strengthen their product portfolios and to meet & exceed their customers’ expectations in the bag-in-box market.
Smurfit Kappa is a leading company in Europe, producing corrugated packaging, ‘Bag-in-Box,’ and containerboards. Also, they are the only Pan-American producer of containerboard and corrugated packaging. Smurfit Kappa has over 40 years of expertise in complete bag-in-box packaging solutions and is among the few providers of a complete bag-in-box packaging system. They provide clients with everything that is related to bag-in-box packaging, from films and accessories to bags, boxes, and taps. They also provide complete filling lines, which give the clients full expertise throughout the process of packaging liquids in bag-in-box.
DS Smith is a leading provider of corrugated packaging worldwide. The company also has a recycling business that collects used corrugated cardboard and paper, from which the company’s paper manufacturing facilities produced the recycled paper that the company uses to make corrugated boxes. Their business model is focused on sustainable packaging. DS Smith Rapak is the division that manufactures products for its bag-in-box solutions. It produces both standard and custom-designed bag-in-box solutions that are renowned for high-quality and reliability. It offers an extensive product portfolio, catering to several end-use sectors.
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