Europe Bag in Box Packaging Market is Estimated to Witness High Growth Owing to Rising Demand for Convenient and Lightweight Packaging Solutions
Bag-in-box packaging refers to a packaging solution that involves flexible inner packaging contained in an outer rigid container. Bag-in-box packaging is used for various food and beverages applications including wine, non-alcoholic beverages, and dairy products. It provides advantages such as ease of handling, compactness, re-sealability, and dispensability. The bag collapses as the contents are dispensed, taking up less space as it empties.
The Europe Bag in Box Packaging Market is estimated to be valued at US$ 1790.52 Mn in 2023 and is expected to exhibit a CAGR of 2.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising demand for convenient and lightweight packaging solutions is the key driver fueling the growth of Europe bag in box packaging market. Bag-in-box packaging provides advantages such as ease of handling, compactness, re-sealability, and dispensability which makes it a preferred choice for various food and beverage applications. Additionally, bag in box packaging reduces packaging waste as the inner bag collapses according to the liquid dispensing. Bag-in-box packaging occupies less space during storage and transportation as compared to cans and rigid packaging which further increases its demand from food and beverage manufacturers.
SWOT Analysis
Strength: Global Europe bag-in-box packaging market size has high adoption rate for wine packaging. The bag in box packaging prevents oxidation and maintains freshness of the wine packed for longer duration. Bag in box packaging is convenient to handle and transport which increases its popularity in the wine industry.
Weakness: High initial investments are required to set up bag in box packaging production units. Raw material prices are volatile which increases the production costs.
Opportunity: Growing consumption of non-alcoholic beverages presents an opportunity to use bag in box packaging for juices, water and other drinks. Countries like Germany, UK, France offer scope to increase bag in box usage for liquid packaging.
Threats: Growing health concerns related to alcohol consumption can reduce the demand for wine packaging. Stringent environmental regulations regarding packaging waste disposal may increase compliance costs.
Key Takeaways
The European bag in box packaging market is expected to witness high growth driven by increasing consumption of wine. The Europe Bag in Box Packaging Market is estimated to be valued at US$ 1790.52 Mn in 2023 and is expected to exhibit a CAGR of 2.4% over the forecast period 2024 to 2031.
Germany dominates the market due to high consumption of wine and presence of leading packaging companies. The bag in box packaging offers significant advantages over rigid packaging for liquid packaging applications which drives its adoption. Germany accounts for the largest share in the European bag in box packaging market owing to highest consumption of wine in the region. The United Kingdom and France also have substantial market size due to traditional wine drinking cultures. Countries like Italy and Spain offer lucrative opportunities backed by large local wine industries.
Key players: Key players operating in the Europe Bag in Box Packaging market are Copperhead Industries, LLC, American Wire Group, Inc., Nehring Electrical Works Company, Kris-Tech Wire, MWS Wire Industries Inc., AFL, LEONI Wire Inc., Fisk Alloy Inc., and Elecref Industries Inc. The players focuses on new product launches and mergers to consolidate their market position.
Get More Insights On This Topic: https://www.trendingwebwire.com/europe-bag-in-box-packaging-market-analysis-growth-forecast-outlook-2023-2030/
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