Still in the nascent stage, bag on valve (BOV) technology market is expected to grow significantly between 2016 and 2024 due to its advantages to consumers and manufacturers. Analysts expect this technology to gain traction in the coming years as it is perceived as an eco-friendly packaging solution, since it uses aluminum as the main raw material.
Albany, NY -- (SBWIRE) -- 02/06/2017 -- In a recent forecast report by Transparency Market Research, the rapidly growing market of Bag on valve technology is all set to exhibit a significant CAGR of 4.3% by the end of 2024. This forecast study has been added to the expanding research report catalog of Market Research Hub (MRH) and is entitled as "Bag On Valve Technology Market- Global Industry Analysis and Forecast 2016-2024". According to the TMR estimations, opportunity in the global bag on valve technology market is projected to be worth US$500.1 mn until 2024.
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Initially, the report starts by defining the bag on valve technology market. In this introductory section, the report also assesses market performance in terms of revenue and volume, which is followed by the key trends, driving factors and limitations witnessed in the global market. Geographically key areas focused in the report are North America, Europe, APAC, Latin America and MEA.
Bag-on-valve technology or BoV aerosol is a superior spray dispensing system, with modern packaging solution that improves products in different industries, including pharmaceutical, cosmetics and food. As for the manufacturers, the preference for the bag on valve has only grown in the past few years as this technology provides a longer shelf life for oxygen sensitive products that contain less or no preservatives. Also, this type of packaging is 100% recyclable and offers both convenience and reliability for the consumer. There are a lot of benefits which are attached to this technology which explains its endless possibilities. This is appropriate for liquid as well as viscous products, such as gels, creams and ointments, in a number of application areas.
In order to understand and assess opportunities in this market, the report is categorically divided into six key segments such as product type, valve type, container type, capacity type, application type and region. Due to environmental concerns, North America moves away from aerosols and focused towards other packaging systems such as one of the Bag on Valve options. Currently, Europe is expected to show a moderate growth rate in the coming years. By product type, it can be categorized into:
Non-Spray/low pressure B.O.V
Moreover, container types of BoV technology include Aluminum, Steel, Plastic and Tin Plate. Typically BoV's are used in aluminum cans with a 1-inch opening for pressing the valve which is welded to a foil based packaging bag with multi-layer film laminate.
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In the final section, the report describes market competitive landscape to review the leading companies in the global market along with their company profiling. Some of the key market players featured in this report are:
Shanghai Golden Aerosol Co., Ltd.
Coster Tecnologie Speciali S.p.A.
Summit Packaging System, Inc.
Chicago Aerosol LLC
TOYO & DEUTSCHE AEROSOL GMBH
Check Other - Packaging Market Research Reports
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