The Bag-in-box Packaging Market will register a CAGR of over 5% by 2023
19:02 ET
LONDON, Dec. 10, 2018 /PRNewswire/ --
About this market
Various end-user industries are focusing on sustainable packaging solutions due to the ban on plastic and plastic-related products in several countries across the world. The outer covering and inner bag of bag-in-box packaging is made of corrugated carton and polyethylene film respectively, both of which are highly recyclable. Moreover, the material of the inner bag and dispensing tap must comply with strict directives and standards. Several companies are aiming to use 100% recyclable packaging for their products in the future. Thus, the growing demand for sustainable packaging is expected to drive the growth of bag-in-box packaging market during the forecast period. Technavio's analysts have predicted that the bag-in-box packaging market will register a CAGR of over 5% by 2023.
Download the full report: https://www.reportbuyer.com/product/5647278
Market Overview
Growing global packaged beverage consumption
The consumption of packaged beverages is expected to grow at a rate of around 2.8% during the forecast period. Owing to growing heath consciousness among people, the consumption of carbonated soft drinks will decrease, and the consumption of packaged fruit juices and water will increase. The consumption of milk and dairy-based beverages will also increase during the next five years. This will drive the demand for bag-in-box packaging and thereby boost market growth.
Volatility in raw material prices
Fluctuations in the prices of raw material such as plastic film and kraft paper directly impacts the cost of production. The prices of materials used for manufacturing the inner bag of bag-in-box packaging such as PE, LDPE, and EVOH are also instable due to the supply and demand gap of crude oil across the world. These fluctuations increase the operating costs for vendors and thereby hampers the growth of the market.
For the detailed list of factors that will drive and challenge the growth of the bag-in-box packaging market during 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately concentrated and with the presence of established companies including Amcor, and DS Smith the competitive environment is intense. Factors such as the increasing global packaged beverage consumption, will provide considerable growth opportunities to bag-in-box packaging manufacturers. Amcor, DS Smith, Liqui-Box, Scholle IPN, and Smurfit Kappa are some of the major companies covered in this report.
Download the full report: https://www.reportbuyer.com/product/5647278
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: sarah@reportbuyer.com
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com
SOURCE ReportBuyer