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Bag on Valve Products Market Set to Surpass $10.74 Billion by 2027 with Strong CAGR Growth of 7.3% || Amcor plc, CCL Industries Inc., Aptar Group Inc., Constantia Flexibles
Bag On Valve Products Market
The Business Research Company's Bag On Valve Products Global Market Report 2023 identifies the growing demand for personal care products is the major driver for the bag on valve products market's growth in the forecast period. Personal care products refer to a broad range of personal hygiene, grooming, and general well-being products. Bag-on-valve (BOV) technology is utilized in packaging personal care products. BOV packaging offers several advantages for personal care products, including improved product protection, controlled dispensing, and extended shelf life. For instance, in February 2021, according to the reports shared by Loreal Cosmetic World, a France-based company that manufactures cosmetics and skin care products, demand for personal care products increased from 8% in 2021 to 41% in 2022, with $249.66 billion (228 billion euros) in 2021.
The global bag on valve products market size is expected to grow from $7.47 billion in 2022 to $8.1 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of bag on valve products market is expected to reach $10.74 billion in 2027 at a CAGR of 7.3%.
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Major competitors in the bag on valve products market are Amcor plc, CCL Industries Inc., Aptar Group Inc., Constantia Flexibles, Plastipak Packaging Inc., Tekni-Plex Inc., Everton, Exal Corporation, TUNAP Group, Gualapack S.p.A, Precision Valve Corporation, Summit Packaging Systems Inc.
A key trend in the bag on valve products market includes technology adoption. Major companies operating in the bag-on-valve product market are adopting new technologies to sustain their position in the market. For instance, in January 2021, IBSA Farmaceutici Italia Srl., an Italy-based pharmaceutical company, adopted bag-on-valve technology for packaging drugs, medical devices, and cosmetics in cream, gel, or liquid forms. BOV technology is a type of aseptic packaging that uses a bag and a valve to dispense the product. The bag is filled with the product and then sealed. The valve is then attached to the bag, allowing the product to be distributed without encountering the environment.
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The bag on valve products market is segmented -
• By Product Type: Standard, Aerosol, Low Pressure And Non-Spray
• By Type: Child Use, General Use
• By Container Type: Aluminum, Steel, Tin Plate, Plastic
• By Application: Personal Care, Household Care, Pharmaceutical, Food And Beverage, Automotive And Industrial
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the bag on valve products market.
The Business Research Company's "Global Bag On Valve Products Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Bag On Valve Products Market Include:
1. Executive Summary
2. Bag On Valve Products Market Characteristics
3. Bag On Valve Products Market Trends And Strategies
4. Bag On Valve Products Market - Macro Economic Scenario
5. Bag On Valve Products Market Size And Growth
……………
27. Bag On Valve Products Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Bag On Valve Products Market
29. Bag On Valve Products Market Future Outlook And Potential Analysis
30. Appendix
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