The global bag-in-box market size is projected to grow from USD 1.6 billion in 2019 to USD 1.9 billion by 2024, at a CAGR of 3.8% from 2019 to 2024. The growth of this market is attributed to the need for innovative and sustainable packaging as well as the increase in the consumption of alcoholic beverages in developing and developed economies. Other factors driving the market include ease of handling and transportation of bag-in-box packaging, which has resulted in its use in e-commerce retail with the benefits of enhanced protection, leading to extended shelf life of the product.
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In Terms of Value and Volume, the 5–10 Liters Segment Is Projected to Lead the Bag-In-Box Market
Based on capacity, the 5–10 liters segment is projected to be a faster-growing market during the forecast period. The use of 5–10-liter bag-in-boxes in dispensing systems by beverage manufacturers, foodservice operators, and quick-serve restaurants has contributed to the significant growth of this segment. On the other hand, the < 1 liter segment is expected to grow at the highest CAGR during the forecast period, due to the increasing use of these bag-in-boxes for packaging wines and juices for consumer use.
The beverages segment is estimated to be a largest end-use market in the bag-in-box market in 2019.
The beverages segment, by end-use sector, accounted for a larger market size for bag-in-box in 2018, in terms of both value and volume. This dominant market position is attributed to the exponential growth of wine production in developed countries globally. With the boost in wine production, the prefered sustainable packaging for wine consumption has also gone up, which has created an opportunity for the of bag-in-box systems in these market.
The European region is projected to account for the largest share in the bag-in-box market
The European region is projected to lead the bag-in-box market, in terms of both value and volume, from 2019 to 2024. The growing demand for box wine is fragmented in Europe, which helps to engage with big players in the global market, providing cost advantages and introduction of innovative products in the market. The market also has a good mix of regional players, which eliminates any risk of supply shortage.Wine packaging is the primary driver for bag-in-box packaging within Europe.
Smurfit Kappa (Ireland), DS Smith PLC (UK), Liqui-box corp (US), Scholle IPN Corp(US), and CDF Corporation Inc. (US) are the key players operating in the bag-in-box market. Acquisitions and new product developments are some of the major strategies adopted by these key players to enhance their positions in the bag-in-box market.
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