LONDON–(BUSINESS WIRE)–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.
The growing need for sustainable packaging will be one of the major trends in the global bag-in-box packaging market 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.
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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.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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