Bag-in-Tube Packaging Market: Western Europe to Remain Dominant Regional Market Throughout the Forecast Period: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)
London, UK -- (SBWIRE) -- 10/05/2017 -- Bag-In-Tube is helping wine businesses achieve brand differentiation in Western Europe
Western Europe has a long history to tell about its wine culture. The wine industry in Western Europe is highly competitive. Although over the years the distribution & marketing channels have evolved and got saturated, now wine businesses are struggling to differentiate their products. Almost all the wine chains have similar product mix and product offerings. Packaging is the next differentiating strategy followed by wine businesses. Bag-In-Tube helped wine business to drive & improve their sales. Bag-in-Tube provides enhanced shelf-appeal, due to its 360' printability. Easy to carry handle helps to lift more weight packages. Its spigot or tap helps to pour the wine smoothly and efficiently in controlled manner.
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Growing share of online retail & home shopping in Western Europe is contributing to the growth of the global bag-in-tube market
Home shopping is the recent trend in bag-in-tube Packaging market. The trend of buying wines at homes has steadily increased in past two to three years. The distribution channels such as home shopping & online retail gained considerable market share. Bag-in-Tube provides extended shelf-life of six to eight weeks. It provides high oxygen barrier and protection from dust, moisture and other contaminations. Consumers are buying from anywhere, anytime from any manufacturer, local or international. Although online retailing & home shopping in wine industry has seen strong growth, it is geographically restricted to only Western Europe region, mainly in the countries like U.K., France, and Italy.
Competition from bag-in-box and other packaging formats hampers the growth of the global bag-in-tube market
Bag-in-Tube format is facing tough competition from bag-in-box and other packaging formats for wine, olive oil and dry fruits & nuts. Bag-in-Box has more or less similar features as bag-in-tube, but it is already made it to almost all the shelves of wine stores with considerable market share. Although bag-in-tube has some distinctive features, it faces the competition from bag-in-box. The two formats just vary in product shapes. As of now the end uses of bag-in-tube are very limited. Bag-in-tube is very much used in wine industry and olive oil industry. Bag-in-box is used in packaging wine, olive oil, detergents, fruit juices, spirits, whiskey, water and dry fruits.
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With more than 20% revenue share, U.K. leads the bag-in-tube market in Western Europe region
U.K. Bag-In-Tube Market is estimated to represent an incremental $ opportunity of more than US$ 2,400 thousand. In terms of CAGR, market is anticipated to grow at a CAGR of 16.0%, by value, with peak Y-o-Y of 16.5%. The U.K. bag-in-tube market expected to witness 5.16x growth by value and 3.14x growth by volume.
The Western Europe bag-in-tube market is valued at more than US$ 3,200 Thousands, in 2017, and is estimated to be valued at more than US$ 14,600 Thousands, by the end of 2027. The Western Europe bag-in-tube market is expected to grow 5.19x by current value, over forecasted period. Although Western Europe is gradually losing out the market shares to APEJ, Japan, Eastern Europe, Latin America and MEA, it is expected to grow at healthy growth rates. This is due to the increased R&D investments and demand for efficient, lightweight packaging for high-end wine, spirits, and vegetable oils.