The Bag On Valve Products Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Bag On Valve Products Global Market Report 2024, The bag on valve products market size has grown strongly in recent years. It will grow from $8.1 billion in 2023 to $8.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to food and beverage industry utilization, enhanced product shelf life, consumer demand for convenience, pharmaceutical and medical industry adoption, cosmetics and personal care industry adoption.
The bag on valve products market size is expected to see strong growth in the next few years. It will grow to $11.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to integration with iot and smart packaging, emerging market penetration, rise in e-commerce and direct-to-consumer channels, demand for clean and sterile applications. Major trends in the forecast period include rise in portable and travel-friendly products, improved barrier properties, focus on recyclability and circular economy, integration of biocompatible materials, focus on user experience and ergonomics.
Growing demand for personal care products is expected to propel the growth of the bag-on-valve product market going forward. 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. Further, the global cosmetics market grew from $5.8 billion in 2019 to $7.6 billion in 2022. Therefore, the increase in demand for personal care products is driving the growth of the bag-on-valve product market.
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The bag on valve products market covered in this report is segmented –
1) By Product Type: Standard, Aerosol, Low Pressure And Non-Spray
2) By Type: Child Use, General Use
3) By Container Type: Aluminum, Steel, Tin Plate, Plastic
4) By Application: Personal Care, Household Care, Pharmaceutical, Food And Beverage, Automotive And Industrial
Technology adoption is the key trend gaining popularity in the bag-on-valve product market. 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. This technology offers several advantages, making it a desirable choice for various applications. Additionally, BOV technology is more user-friendly and can dispense products in multiple forms to improve products' safety, efficiency, and environmental friendliness.
The bag on valve products market report table of contents includes:
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 analysis
5. Bag On Valve Products Market Size And Growth
6.Bag On Valve Products Segmentation
7. Bag On Valve Products Regional And Country Analysis
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27.Bag On Valve Products Competitive Landscape And Company Profiles
28. Bag On Valve Products Key Mergers And Acquisitions
29. Bag On Valve Products Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Amcor PLC
- CCL Industries Inc.
- Aptar Group Inc.
- Constantia Flexibles
- Plastipak Packaging Inc.
- Tekni-Plex Inc.
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