New Product Developments Accounted for the Largest Share of all the Strategic Developments that Took Place in the Bag-in-Box Market
The global bag-in-box market size is projected to grow from USD 1.6 billion in 2019 to USD 1.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast year. The growth of this market is attributed to the need for innovative and sustainable packaging as well as the increasing consumption of alcoholic beverages in developing and developed economies
The bag-in-box market has been dominated by large players, such as the Smurfit Kappa (Ireland), DS Smith (UK), Liqui-box Corp. (US), and Scholle IPN (US). These players have adopted various growth strategies, such as new product developments and acquisitions, to increase their market shares and enhance their product portfolios.
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New product developments accounted for the largest share of all the strategic developments that took place in the bag-in-box market between January 2017 and December 2019. Key players such as Smurfit Kappa (Ireland) and DS Smith PLC (UK) have adopted this strategy to strengthen their product portfolios and to meet & exceed their customers’ expectations in the bag-in-box market.
Smurfit Kappa is a leading company in Europe, producing corrugated packaging, ‘Bag-in-Box,’ and containerboards. Also, they are the only Pan-American producer of containerboard and corrugated packaging. Smurfit Kappa has over 40 years of expertise in complete bag-in-box packaging solutions and is among the few providers of a complete bag-in-box packaging system. They provide clients with everything that is related to bag-in-box packaging, from films and accessories to bags, boxes, and taps. They also provide complete filling lines, which give the clients full expertise throughout the process of packaging liquids in bag-in-box.
DS Smith is a leading provider of corrugated packaging worldwide. The company also has a recycling business that collects used corrugated cardboard and paper, from which the company’s paper manufacturing facilities produced the recycled paper that the company uses to make corrugated boxes. Their business model is focused on sustainable packaging. DS Smith Rapak is the division that manufactures products for its bag-in-box solutions. It produces both standard and custom-designed bag-in-box solutions that are renowned for high-quality and reliability. It offers an extensive product portfolio, catering to several end-use sectors.
Related Reports:
Bag-in-Box Market by (Semi-liquid, Liquid), Capacity (<1 liter, 3-5 liters, 5-10 liters, 10-20 liters, >20 liters), Component (Bags, Boxes, Fitments), Tap (With tap, Without tap), End-use Sector ,Region - Global Forecast to 2024
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