The global bag-in-box container market size is expected to reach USD 4.80 billion by 2025, according to a new report by Grand View Research, Inc. The industry is expected to witness significant rise owing to increasing demand for the product in the household segment. Increasing demand for the product for packaging alcoholic beverages coupled with ease of product handling is expected to drive growth over the forecast period.
Rising consumption of the product in the household segment owing to the launch of various innovative packaging types coupled with reduced product prices in comparison to other available substitutes is anticipated to propel growth. In addition, the rise in the use of biodegradable and environmental-friendly material for manufacturing the product is likely to propel growth.
Global players capture majority of the revenue share for the product. The production capacities of existing players are high and the products are sold through established distribution networks. In addition, the use of advanced and innovative product technologies by manufacturers to gain a competitive advantage is likely to trigger the industry growth.
Notable changes in consumer lifestyle and growing inclination toward the use of high priced bag-in-box container for packaging products such as wine and beer are likely to result in rising demand. In addition, the use of high-quality products to improve product barrier properties and declining product cost are likely to increase the market growth over next eight years.
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http://www.grandviewresearch.com/industry-analysis/bag-in-box-containers-market
Further key findings from the report suggest:
- LDPE segment is expected to account for 51.8% of the global industry revenue on account of superior product flexibility and barrier properties, leading to high adoption by the beverage manufacturers
- Household segment, in terms of revenue, is likely to reach USD 1,094.8 million by 2025 owing to rise in the consumption of household cleaning products coupled with the growth of the home-care product segment
- In terms of revenue, Europe accounted for the highest market share in 2016 at USD 1,069.0 million in 2016 owing to the high consumption of alcoholic beverages and packaged beverage products
- The bag-in-box container industry has significant number of established and domestic players. The high production capacities of the manufacturers are expected to benefit the industry growth by producing higher volumes of the product coupled with the incorporation of advanced product packaging solutions
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-bag-in-box-container-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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