An increasing number of players in the bag-in-box containers market have been focusing on capacity and geographical expansion in recent years. Offering cost-effective solutions for applications such as smoothies, dairy products, liquid detergents, and cereals has also been a major goal for manufacturers.
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By value, the global bag-in-box containers market is anticipated to expand at a CAGR of more than 6.5% during the forecast period of 2016 to 2024. The sales of bag-in-box containers is estimated to be valued at US$2.7 bn by the end of 2016. The food and beverages industry is the largest end user of bag-in-box containers with a three-fourth share in the overall market. Within this segment, the use of bag-in-box containers in the packaging of alcoholic beverages accounted for a 57% share in the F&B segment. The usage of bag-in-box containers in household applications is anticipated to expand over the course of the forecast period at an 8.8% CAGR, the highest thus far.
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TMR forecasts that the Asia Pacific region is bound to gain traction in the coming years as far as the bag-in-box containers is concerned. “There has been a surge in investments in the APAC bag-in-box containers market, where the presence of product manufacturers is quite strong,” the author of the report states. “Countries such as China and India and several ASEAN countries have been witnessing a boom in the food and beverages industry, which has translated to the escalating demand for innovative packaging solutions. The APAC bag-in-box containers market is most likely to benefit from this robust rise in demand.”