Bag-in-box Containers Market: Food and Beverages Segment to Remain in Leading Position

The global bag-in-box containers market is highly competitive and fragmented in nature with a large number of players expected to enter the market in the next few years, states a market intelligence study by Transparency Market Research (TMR). The leading players in the market are making efforts to attract a large number of consumers and expand their product portfolio in order to sustain in the competitive advantage of the market. Innovations and the expansion of application base are some of the key factors that are predicted to accelerate the growth of the global bag-in-box containers market throughout the forecast period. Furthermore, the increasing number of mergers and acquisitions and the emergence of innovative technologies are some of the other important factors likely to supplement market’s growth in the near future.

According to the research report by Transparency Market Research (TMR), in 2016, the global market for bag-in-box containers was worth US$2.7 bn. This market is estimated to register a healthy 6.50% CAGR between 2016 and 2024, thanks to the rising demand for innovative bag-in-box containers across the globe.

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Europe to Remain Dominant in Global Bag-in-box Containers Market

From a geographical perspective, Europe is expected to lead the global bag-in-box containers market throughout the forecast period and is likely to register a healthy growth rate in the near future. The growing demand and the presence of a large number of players in this region are some of the key factors that are estimated to encourage the growth of the bag-in-box containers market in Europe in the next few years. Furthermore, Latin America and Asia Pacific are projected to witness a significant growth rate in the forecast period. The substantial contribution from India and China and the increasing investments in the development activities are projected to contribute widely towards the growth of the overall market in the coming years.

On the basis of end use, the food and beverages segment is estimated to lead the global bag-in-box containers market and is likely to witness a strong growth in the next few years. According to the research study, this segment is expected to hold more than 3/4th share of the global market by the end of 2024. The rising demand for innovative containers, especially for non-alcoholic, alcoholic, and liquid foods is anticipated to fuel the growth of this segment throughout the forecast period. Furthermore, the household application segment is predicted to register a significant growth in the near future.

Growing Need for Convenient Packaging to Bolster Bag-in-box Containers Market

The growing demand for customized containers across diverse industries is considered as one of the major factors that is projected to fuel the growth of the global bag-in-box containers market in the next few years. The tremendously rising population and the growing inclination of consumers towards an enhanced lifestyle are some of the other factors accelerating the growth of the overall market in the near future.

Furthermore, the rising demand for reducing per-package pricing of packaging and the convenience offered by these containers are anticipated to supplement the market’s growth in the coming years. In addition, the increasing focus of players on advancements and innovations in the packaging techniques are predicted to boost the demand for bag-in-box packaging across the globe.

Untapped Growth Opportunities in Emerging Economies to Benefit Players

The global market for bag-in-box containers, on the contrary, is predicted to witness several challenges in the next few years, which are likely to hamper the development of the overall market in the near future. Nonetheless, the untapped opportunities in diverse emerging economies and the increasing application base of bag-in-box containers are projected to generate potential opportunities for the key players operating in the market across the globe.

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This release was published on openPR.