Future Market Insights has announced the addition of the “Bag-in-Tube Packaging Market: Global Industry Analysis and Opportunity Assessment 2017-2027" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 03/08/2017 -- The year 2015 and 2016 has been recognized as the year of transformation in wine packaging industry, where the industry witnessed large scale adoption of bag-in-box packaging format, particularly in European market. Bag-in-box spurred the beverage packaging market with higher threshold of innovation in both alcoholic beverages as well as non-alcoholic beverages. Bag-in-box market surpassed the total market value of US$ 2 million in 2015 and reached to US$ 2.7 Mn in 2016. Packaging solution provider experienced meteoric growth in the demand for such packaging formats and hence, a prominent packaging solution provider in Europe pioneered in Bag-in-tube packaging format. The innovation quickly replicated by several other companies and are at embryonic stages of designing robust strategy to capitalize the newly created opportunity in the market. Bag-in-tube packaging comprises of a bag packed inside a composite cardboard tube covered with a tinplate lid and base. The bag is connected with dispensing tap for convenience of serving the beverage. Once opened, bag in tube protects the product from its exposure to oxygen and related deterioration. Thus the shelf life of packaged beverage eventually increases, which is quite perfect for the needs of an occasional customer.
The bag in tube consist of a double layered bag and the liquid stored in this bags is dispensed through a spigot. Bag-in-tube is a perfect option for gift and promotional market and can also be used as an outer cover for beverages mostly for olive oil and premium quality wines. In the global bulk carrier market for consumer liquid product packaging, bag-in-tubes has potential to replace bag-in-box, consuming at least 15-20% market share of bag-in-box market. Bag-in-tube packaging, as evolved has created a new class of upmarket with an artistic packaging for liquid products that has huge impact on customer buying pattern and communicating with target customer base.
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Global Bag-in-Tube Packaging Market: Drivers and Restrains
Bag-in-tube is customer friendly packaging which offers convenience of use and store. Bag-in-tube led to increase in sales due to the premium presentation of packaged products, and also provides an opportunity to promote the product and the brand message. Bag-in-tube is a stronger form of packaging compared to bag-in-the-box packaging, thus lesser losses due to package breakages. These factors collectively evolved as a driving factor to the growth of global bag-in-tube packaging market. On the other hand, bag-in-tube packaging is a bit expensive, as multiple processes and components are involved, thus wine packers are skeptic to use the same. Availability of alternative packaging such as plastic pouches, bag-in-the-box, and cardboard based packs likely to act as restraints to the global bag-in-tube packaging market and anticipated to restrict the market to unfold at full potential.
Global Bag-in-Tube Packaging Market: Market segmentation
On basis of the material used, global bag-in-tube packaging market can be segmented as follows:
Low density polyethylene ( LDPE )
High density polyethylene ( HDPE )
Linear low density polyethylene ( LLDPE )
Based on size, global bag-in-tube packaging market can be segmented as
2 liter tube
3 liter tube
4 liter tube
Based on application, global bag-in-tube packaging market can be segmented as
Other Beverage Packaging
Home Care Liquid Packaging
Global Bag-in-Tube Packaging Market: Regional Overview
Geographically, the bag-in-tube packaging market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA). As North America and Europe cherishes a higher standard of living as a result of relatively higher disposable income and due to their inclination towards large consumption of premium alcoholic beverages. Furthermore, countries of North America and Europe, primarily Western Europe are expected to maintain its dominance during the forecast period thus leading to the growth of bag-in-tube packaging market. Asia Pacific particularly India and China are anticipated to grow at a significant rate of over 5% over the forecast period, owing to a new class of population, which is recognized by substantial increase in out of pocket expenditure, along with booming retail sector. Overall, global bag-in-tube packaging market is anticipated to register an impressive CAGR of 6.1% over the forecast period.
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Global Bag in Tube Market: Key Players
Smurfit Kappa Group is the only known multinational player operating in this business of offering bag-in-tube manufacturing for wine packers, though presence small regional players can not be denied. Over the next three years the industry is likely to witness the entry of several small and large players in the global bag-in-tube packaging market.