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Bag-in-Tube Market Surges with a Remarkable 13.1% CAGR and Estimated to Hit US$17.8 Million by 2029

09-22-2023 04:56 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Bag-in-Tube Market, Bag-in-Tube

Bag-in-Tube Market, Bag-in-Tube

The bag-in-tube market has displayed robust growth, reaching a value of US$ 4.4 million in 2018. Anticipated to maintain this momentum, the market is forecasted to achieve a remarkable 13.1% compound annual growth rate (CAGR) during the 2022-2029 period. The Asia Pacific region is set to emerge as a key player, driven by its expanding packaging industry. Meanwhile, Western Europe, already the largest and most mature market for bag-in-tube, is expected to retain its dominant position in terms of both value and volume. This market's evolving landscape reflects dynamic shifts in global packaging preferences and consumption patterns.

In the coming ten years, the demand for bag-in-tube is anticipated to increase significantly in the Asia Pacific area. This can be ascribed to the region's packaging industry's overall expansion. However, Western Europe, the most developed and substantial market for bag-in-tube, will continue to hold the top spot in both value and volume terms.

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Preference for bag-in-tube for its 360° area accessible for printing and embossing, as well as the potential to offer extended shelf life of up to 6 to 8 weeks after opening the pack, are some of the primary aspects driving this expansion. In terms of mechanical resistance and oxygen barrier, metallized PET utilised in bag-in-tube film architectures meets client expectations. Throughout the forecast period, the bag-in-tube market is predicted to develop at a 13.1 per cent annual pace (2022-2029). Some of the important developments in the bag-in-tube industry are high-end customization employing spigots and handles, as well as the type of material utilised as barrier layers.

Bag-in-Tube Market Study Key Takeaways

    Metalized PET will continue to be the favoured material in the bag-in-tube market, with more than 60% of the market expected to be captured between 2019 and 2029.
    By 2029, demand from wine and olive oil producers is predicted to account for roughly 80% of the global bag-in-tube market, and it is expected to develop at a faster rate than any other segment.
    Western Europe is estimated to dominate the bag-in-tube market, with a CAGR of more than 10% from 2019 to 2019.
    Bag-in-tube makers can make significant profits by targeting wine and spirit producers, as these end users see bag-in-tube as a lightweight, leak-proof, and cost-effective packaging alternative to glass.

In Asia Pacific and MEA, there are a lot of untapped markets.

Some markets are unfamiliar with bag-in-tube packaging, which is an expanded form of bag-in-box. While bag-in-tube has a high market penetration in Western Europe, it has a lower market penetration in North America. Latin America and Eastern Europe, where bag-in-tube packaging is still in its early phases of development, are key producers and consumers of wine, providing a great potential for bag-in-tube packaging manufacturers. Bag-in-tube penetration is essentially non-existent in APEJ, MEA, and Japan, making them very profitable regions for enterprises looking to increase their market positions.

In European countries, bag-in-tube packaging is widely used for wine and spirits, followed by high-end vegetable oil (olive oil). By the end of 2025, the worldwide millennial population is expected to surpass 30%. Millennials are drawn to novel packaging such as bag-in-tube and bag-in-boxes because they are convenient to carry and store. Bag-in-tube producers are projected to benefit greatly as a result of this.

Bag-in-Tube Industry Research Highlights Key Segments

Bag-in-Tube Market by Capacity:

         Less than 1000 ml
         1000 to 2000 ml
         2001 to 3000 ml
         More than 3000 ml

Bag-in-Tube Market by Product:

         EVOH Barrier + PE
         Metallized PET

Bag-in-Tube Market by End-use:

         Olive Oil
         Fruit Juices

Request Report Methodology:

Key Questions Answered in the Report

         How much is the Bag-in-Tube market currently worth?
         What is the sales forecast for Bag-in-Tube through 2029?
         What was last 7-year market CAGR for the sales of Bag-in-Tube?
         Who are the key manufacturing companies for Bag-in-Tube?

Competitive Landscape

As bag-in-tube is a pretty new solution in the packaging market, the bag-in-tube market is relatively small in size. Thus, there are vast opportunities for players operating in the bag-in-box segment and small & newly-entered companies alike to become the part of this rapidly growing market. Individual strategies followed by these market players in terms of improving their product portfolios, creating new marketing strategies, and acquisitions and mergers in the bag-in-tube market, have been elaborated in this report.

*Introduction of anti-counterfeit packaging and shift from glass-based packaging to plastic packaging materials are the ongoing trends in the bag-in-tube market.
*Demand for sustainable packaging solutions from eco-conscious consumers is anticipated to change the dynamics of the bag-in-tube market.

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA

About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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