Bag-on-valve Technology Market by Material & Forecast - 2024 | Transparency Market Research
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Manufacturers in the bag on valve technology market have started focusing on eco-friendly bag-on-valve that is suitable for different forms such as liquid, cream, foam, and gel. Along with this, players are adopting advanced and sustainable packaging technique to comply with various standards set by regulatory bodies.
According to TMR, the global bag-on-valve technology market is expected to rise at a steady 4.4% CAGR during the forecast period 2017-2024. Rising at this CAGR, the global bag on valve technology market is expected to touch a valuation US$ 500.1 at the end of the forecast period.
The global bag on valve technology is likely to rise at a significant pace in the coming few years. This is mainly due to the increasing inclination of consumers towards zero wastage thus offering a cost effective solution to consumers. In addition to this, the bag on valve technology also offer better product safety than other packing technologies. This is a prominent factor expected to drive global bag on valve technology market in the coming few years.
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The increasing demand for end users company such as Cosmetics & Personal Care, Pharmaceuticals, Home Care, Food & Beverages and Automotive & Industrial Products is prominent factor propelling the growth of the bag on valve technology.
On the flipside, the growth in the bag on valve technology is likely to hamper owing to several factors such as increased end product price, limited consumer awareness and lower affordability in developing region. Along with this, easy availability of substitute to the bag on valve packaging materials and convenient and familiar usage for consumer is making them a preferred choice amongst several industries.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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