Increasing alcohol consumption coupled with rising trend towards sustainable packaging is expected to drive the market.
The global bag-in-box market size was valued at >USD 1,600 million in 2019. In addition, it is projected to gather a CAGR of above 4% over the forecast years 2020-2028. Increasing demand for packaged foods followed by rising consumption of alcohol worldwide is expected to increase bag-in-box market concentration over the coming years. Manufacturers operating in this industry are offering better aesthetics and advanced products for brand enhancement and increasing market concentration.
The report also outlines the various characteristics of the global bag-in-box industry by assessing the market from porter’s five forces analysis, PESTEL analysis, and value chain analysis. Moreover, the bag-in-box market report comprises various qualitative parts such as market restraints, important market drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global companies.
The bag-in-box market has solid competition amongst the already well-known and new market players. Also, the bag-in-box industry players are pursuing possible markets to seize a competitive advantage among the other manufacturers operating in this industry by forming mergers & acquisitions, agreements, acquiring other companies, establishing collaboration & partnerships, and growing their business existence. For instance, in October 2019, Liqui Box Corp, a U.S. based company engaged in sustainable solutions sold its bag-in-box business unit to Peak Packaging.
Europe dominated bag-in-box market in 2019. Presence of well-established food & beverage manufacturers followed by growing wine industry in this region is expected to increase its market concentration over the coming years. Increasing research & development investment in packaging industry to develop shape, size, and features are further expected to attract consumers over the coming years.
The major players of the global bag-in-box market are Smurfit Kappa, DS Smith PLC, Liqui-Box Corp., Scholle Ipn Corp., CDF Corporation, Aran Group, Fujimori Kogyo Ltd., Goglio S.P.A, SLF Packaging, and Optopack Ltd. Moreover, the market comprises several other prominent players in the bag-in-box market that are Amcor Ltd., TPS Rental Systems, Arlington Packaging, Bernhardt Packaging, Vine Valley Ventures LLC (Astrapouch), LGR Packaging, LD Packaging, Hearthside Food Solutions, Aspla-Platicos Espanoles S.A, and Westrock Company. The bag-in-box market consists of well-established global as well as local players. In addition, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Key Segments of the Global Bag-in-Box Market
Application Overview, 2018-2028 (USD Million)
- Food & Beverages
- Industrial Liquids
- Household Products
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America