Bizizz Market Research has recently published a research report, “Bag In Tube Market By capacity Type (Less than 1000 ml, 1000 to 2000 ml, 2001 to 3000 ml, and More than 3000 ml), End-user (Wine, Spirit, Olive Oil, Fruit Juices and Other), Material (EVOH Barrier + PE and Metallized PET), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Bag In Tube Market was valued at US$ XX Bn in 2018 and it is anticipated to reach a market value of US$ 650.2 Bn by 2027, witnessing a CAGR of 14% during the forecast period. Key drivers of the market are an increased amount of technologically advanced packaging materials coupled with bio-degradable materials are contributory factors of its market growth.
Globally incremental shift is exhibited in manufacturing the bag in tube offerings coupled with technologically advanced and specialized packaging products worldwide. Increasing efforts to improve the customer experience, along with environmental security efforts are bringing changes in the industry. Bag-in-tube is playing a significant role in end-user industries with innovative packaging concept for semi-liquids and high-end liquids products that are essential in the production of finished goods are propelling its market growth.
The bag-in-tube market demand is expected to witness growth during the forecast period by a higher demand from the premium wines, spirits, and other high value beverages. Such forces are anticipated to stimulate the growth of bag-in tube market during the forecast period.
The Bag In Tube market is anticipated to register a CAGR of over 14% during the forecast period.
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By Material, Metalized pet segment held a key share in Global Bag in Tube Market in 2018.
The demand for the metalized PET accounted for a leading share of xx% in 2018 and is anticipated to have a leading market demand during the forecast period. Bag in tube packaging is generally made up of metallized PET and it continues to maintain its dominance during the forecast period. Metallized PET offers different advantages including glossy feel, durability in conventional alternatives. It is mainly because of the offerings that are sold are been manufactured of metallized PET.
North America is Anticipated to Dominate the Global Bag In Tube Market during the Forecast Period
The North American market for bag in tube market is witnessing high market demand from the wine manufacturing countries of North America that have exponentially utilized bag-in-tube packaging for a product offered. Moreover, bag-in tube packaging is still in the introduction phase in some of the global markets including the Asia Pacific region. Thus, Asia Pacific region has a less penetration rate for bag-in-tube packaging and hence the regions are anticipated to be profitable during the forecast period. Wine-producing nations such as Western Europe and North America have rapidly implemented bag-in-tube packaging in offering wine products that are leading in the global bag-in-tube offerings.
Global Bag In Tube market was moderately consolidated with key players accounting for a significant share in 2018. Thus, organizations are involved in competing with each other by the advanced featured bag in tube offerings in the global market.
Prominent players operating in the Global Bag In Tube Market are CAM, IMA, Smurfit Kappa Group, Industri-Bag of Cape Town, SKS, Parish Manufacturing, Master Packaging Inc, Uline, Sunpack, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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