Global Bag-in-box Packaging Market: Snapshot
Bag-in-box packaging are gradually growing in popularity for the packaging of liquid products. Over the past few years, several food and beverages processing companies have adopted bag-in-box packaging for reasons more than one. The cost-effectiveness, consumer convenience, and easier-to-transport are some of the propositions that have been stoking the popularity of bag-in-box packaging in the overall packaging market.
They are thus increasingly used in the packaging of bag-in-box for alcoholic beverages, dairy and liquid eggs, detergents, edible oils, juices, and non-edible oils. Particularly, bag-in-box packaging are gathering steam in some developed nations for packaging wines. However, the popularity is not uniform across geographies, with millennial still not convinced about the business value of bag-in-box packaging. Nonetheless, packaging manufacturers in the bag-in-box packaging market will hit new revenue streams by finding ways to increase the business proposition of the packaging around the world. To this end, they are striving to come with new designs and barrier-protection materials.
Global Bag-in-box Packaging Market: Notable Developments
The bag-in-box packaging market has been witnessing a fair degree of fragmentation in recent years. The intensity of the competition is likely to remain unchanged in the coming years. The advent of products that meet the fusion of science and experience has shaped the contours of competition in the bag-in-box packaging market. Over the past few years, key markets such as North America, Europe, and Asia Pacific, have seen new waves of competition in the growing numbers of mergers and acquisitions.
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Interestingly, when Liqui-Box, flexible packaging solution provider for liquids, acquired flexible plastic packaging unit of DS Smith, the deal attracted considerable scrutiny from the UK’s Competition and Markets Authority (CMA). The government’s agency hinted at the unfair competition this may bring to the U.K. market. The concern has been addressed recently when Liqui-Box chose to divest its bag-in-box business, highlighting Peak Packaging Ltd. as the upfront buyer. Such strategic developments opens new directions in the bag-in-box packaging market.
Some of the key players aiming for substantial stake in the bag-in-box market are:
- DS Smith
- Parish Manufacturing Inc.
- CDF Corporation
- Smurfit Kappa
Global Bag-in-box Packaging Market: Growth Dynamics
The need for higher shelf life of liquid contents is reinforcing the prospects of the bag-in-box packaging market. Packaging companies have been incorporating new aseptic filling technologies. This is helping them to meet new application areas, thereby boosting the bag-in-box packaging market. The demand proposition for bag-in-box packaging is also impacted by branding opportunities the packaging gives to businesses. Growing demands for puncture-resistant packaging has bolstered the demand for bag-in-box packaging market. Increasing inclination to preserve the integrity of the products and the packaging aesthetics are creating new potential to packaging companies.
New bag-in-box packaging concepts are gathering currency in the market. These concepts create new customer experience. New designs that meet sustainability aspect, notably recycling of the packaging material, are also gathering traction in the bag-in-box packaging market. The shift from glass to this type of packaging for alcoholic beverages is a favorable trend, albeit still to gain widespread popularity. Moreover, many companies are shunning the use of conventional plastics in their packaging, which is a favorable trend. Furthermore, beverages companies are increasingly drawn to bag-in-box packaging as the packing enables them to differentiate their products from their competitors.
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Global Bag-in-box Packaging Market: Regional Assessment
The key regions in the bag-in-box packaging market include North America, Asia Pacific, Europe, and the Middle East and Africa. Of these, Asia Pacific has been showing vast potential for growth in the past few years. Rising demands for the packaging among beverage manufacturers and advances in aseptic packaging technologies are bolstering revenue potential of the regional market. Moreover, growing awareness about the sustainability concerns in emerging economies of the region has also expanded the avenue in the global bag-in-box packaging market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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