Bag-in-Box Containers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2024
Albany, NY -- (SBWIRE) -- 04/17/2018 -- An increasing number of players in the bag-in-box containers market have been focusing on capacity and geographical expansion in recent years. Offering cost-effective solutions for applications such as smoothies, dairy products, liquid detergents, and cereals has also been a major goal for manufacturers.
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The introduction of cubitainers as an alternative to bag-in-box containers is anticipated to dampen the sales of the latter. Cubitainers are an economical and space-saving way of storing, transporting, and dispensing liquid products such as reagents, cooking oils, chemicals, buffer solutions, and soaps and detergents. "The advantages of cubitainers over conventional bag-in-box containers are many, which poses a severe threat to the bag-in-box containers market," the analyst reveals.
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By value, the global bag-in-box containers market is anticipated to expand at a CAGR of more than 6.3% during the forecast period of 2017 to 2024. The sales of bag-in-box containers is estimated to be valued at US$4,587.7 million by the end of 2024. The food and beverages industry is the largest end user of bag-in-box containers with a three-fourth share in the overall market.
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Within this segment, the use of bag-in-box containers in the packaging of alcoholic beverages accounted for a 57% share in the F&B segment. The usage of bag-in-box containers in household applications is anticipated to expand over the course of the forecast period at 9.1% CAGR, the highest thus far.