The global bag-in-box barrier market is projected to reach US$ 333.48 million in 2023 and is anticipated to surge to US$ 548.40 million by 2033. Over the decade from 2023 to 2033, the market is expected to demonstrate a robust Compound Annual Growth Rate (CAGR) of 5.1%, marking a notable acceleration compared to the 4.3% CAGR observed from 2018 to 2022. The market’s upward trajectory is primarily fueled by a growing demand across various industry sectors, including household cleaners, beverages, as well as milk and dairy products.
In response to increasing consumer demands, manufacturers are embracing innovative approaches to enhance their product offerings. For instance, Elite Packaging, a reputable company headquartered in the United Kingdom, has introduced an ingenious gusseted bag design with sealed corners. This unique design not only enhances product stability and efficiency but also reduces the space footprint of the bag-in-box container, making it more compact and versatile for a wide range of applications.
Request for a Sample of this Research Report:
https://www.futuremarketinsights.com/checkout/5727
Competition Analysis:
The global market has various players, which are focusing on technology development in terms of design and packaging solutions. Increasing demand for innovative packaging designs for food and beverage products to catch consumer attention is projected to have a positive impact on industry growth over the forecast period.
Leading key players:
Leading key players in the Bag in Box Barrier Film Market include Mondi Group Plc., known for its innovative and sustainable packaging solutions; Berry Global Inc., a global leader in plastic packaging and engineered materials; Scholle IPN, specializing in flexible packaging solutions; DS Smith Plc, a prominent provider of corrugated packaging and recycling; Amcor Limited, renowned for its broad range of packaging solutions; and Liqui-Box, a leader in sustainable liquid packaging solutions. These companies drive market growth through continuous innovation and a focus on sustainability.
Recent Developments:
In January 2021, Mondi announced that all conditions have been met and it has concluded the acquisition of 90.38% of the outstanding shares in Olmuskan International Paper Ambalaj Sanayi ve Ticaret A.S from International Paper for a total consideration of 66 Million Euros. Olmuskan is a renowned packaging player in Turkey, listed on the Istanbul Stock Exchange.
In February 2020, Liquibox, a portfolio company of Olympus Partners, completed the acquisition of DS Smith plc's Plastics Division. The acquired division includes both rigid and flexible packaging businesses. The combined companies will have 35 manufacturing facilities and a global workforce of nearly 3,000 employees.
In February 2022, SIG announced an agreement to acquire 100% of Scholle IPN. Scholle IPN is a leading innovator of sustainable packaging systems and solutions for food and beverages, with retail, institutional and industrial customers. It is the global leader in bag-in-box and number two in spouted pouches.
Future Prospects:
The future of the Bag in Box Barrier Film Market looks promising, with continued innovations in material science and increasing emphasis on sustainable packaging solutions. As industries strive to reduce their environmental impact and improve the efficiency of their supply chains, the adoption of BiB systems is expected to rise. Furthermore, advancements in barrier film technologies will likely open up new applications and markets, driving sustained growth in the coming years.
Comments
0 comment