Global Bag-in-Box Packaging Market 2019-2023|Industry Analysis and Forecast| Technavio
LONDON--(BUSINESS WIRE)--Dec 4, 2018--Technavio’s global bag-in-box packaging market research report forecasts the market to grow at a CAGR of over 5% during the forecast period.
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Technavio has released a new market research report on the global bag-in-box packaging market for the period 2019-2023. (Graphic: Business Wire)
The growing need for sustainable packaging will be one of the major trends in the during 2019-2023. Various end-user industries have been adopting sustainable packaging solutions due to a ban on plastic and plastic-related products in many countries. This is expected to increase the demand for bag-in-box packaging during the forecast period. The outer covering of bag-in-box packaging comprises of a corrugated carton that is 100% recyclable. The inner bag of bag-in-box packaging is usually made up of polyethylene film that had a recycling rate of around 31% in Europe in 2017.
According to Technavio analysts, one of the key drivers for the global bag-in-box packaging market is the growing global packaged beverage consumption:
Global bag-in-box packaging market: Growing global packaged beverage consumption
The global consumption of packaged beverages was approximately 1,120 billion liters in 2017. During the forecast period, the consumption of packaged beverages will witness an average annual growth rate of around 2.8%. In 2017, the packaged beverages with the highest consumption rate were packed water and carbonated soft drinks. Globally, the consumption of packed water and fruit juices is expected to increase owing to the growing health consciousness among people.
According to a senior research analyst at Technavio, “The consumption of packaged milk and dairy-based beverages is witnessing an increase. In 2017, around 170 billion liters of packaged milk and dairy-based beverages were consumed worldwide. Hence, this increase in global consumption of packaged beverages will drive the demand for bag-in-box packaging as it provides hygienic and convenient dispensing over other packaging types.”
Global bag-in-box packaging market: Segmentation analysis
This global bag-in-box packaging market analysis report provides market segmentation by application (beverages, industrial liquids, and household liquids) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major applications, the beverages segment held the largest bag-in-box packaging market share in 2018, contributing to over 47% of the market. This application segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for more than 41% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY TRANSPORT OTHER TRANSPORT TRAVEL TRANSPORTATION OTHER TRAVEL MANUFACTURING LOGISTICS/SUPPLY CHAIN MANAGEMENT PACKAGING OTHER MANUFACTURING
SOURCE: Technavio Research
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PUB: 12/04/2018 12:08 PM/DISC: 12/04/2018 12:08 PM