Metallized PET Remains Preferred in Bag-in-Tube Market, Wine and Olive Oil Packaging Key Growth Influencer
The bag-in-tube market is expected to outperform other alternatives as a single-use packaging system in the global flexible packaging landscape. Witnessing a stupendous CAGR of more than 13%, the global bag-in-tube market will exhibit remarkable growth between 2019 and 2029. Wine packaging would remain a prominent segment contributing to revenue growth of the global bag-in-tube market, as suggested by a new Future Market Insights (FMI) report.
Bag In Tube Packaging Market
A recent market report published by Future Market Insight on the bag-in-tube market includ...
Some of the key features fueling this growth are preference for bag-in-tube for its 360° area available for printing & embossing and ability to offer extended shelf life of up to 6 to 8 weeks after opening the pack. Metallized PET used in manufacturing bag-in-tube films structures meets customer needs in terms of mechanical resistance and oxygen barrier. The bag-in-tube market is expected to witness an impressive growth rate of 13.7% throughout the forecast period (2019-2029). High-end customization using spigot & handles and type of material used as barrier layers are some of the key trends in the bag-in-tube market.
Key Takeaways - Bag-in-Tube Market Study
- Metalized PET will continue to be highly preferred in the bag-in-tube market, and is projected to capture more than 60% of the market share during the forecast period of 2019-2029.
- Demand from manufacturers of wine and olive oil is collectively expected to hold around 80% of the global bag-in-tube market share by 2029, and its absolute growth is expected to be more than any other segment.
- Western Europe is expected to dominate the bag-in-tube market, and is projected to register an impressive CAGR through 2019-29.
Manufacturers of bag-in-tube can achieve substantial profits by targeting wine and spirit manufacturers as these end users finding bag-in-tube as a lightweight, leak-proof and economical packaging alternative to glass.
Largely Untapped Markets Exist in Asia Pacific and MEA
Bag-in-tube packaging, which is the extended version of bag-in-box, is very new to some markets. While the market penetration of bag-in-tube is very high in Western Europe, it is somewhat low in North America. The largely profitable markets of Latin America and Eastern Europe, where bag-in-tube is in its introductory and developing stages, are the major producers and consumers of wine, offering a great opportunity for manufacturers of bag-in-tube packaging. APEJ, MEA, and Japan have almost a negligible penetration of bag-in-tube, making them highly profitable regions for manufacturers that aim to improve their market positions.
Bag-in-tube packaging is extensively used for packaging wine and spirits, followed by high-end vegetable oil (olive oil) in European countries. The global millennial population is estimated to surpass 30% mark by the end of 2025. Millennials are easily attracted towards innovative packaging like bag-in-tube and bag-in-boxes as they such packages easy to carry and store. This is expected to create lucrative opportunities for bag-in-tube manufacturers worldwide.
More About What the Report Covers
Future Market Insights, in its new offering, brings to the fore an unbiased analysis of the global bag-in-tube market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study reveals compelling insights on the bag-in-tube market on the basis of capacity (Less than 1000 ml, 1000 to 2000 ml, 2001 to 3000 ml, and more than 3000 ml), product type (EVOH Barrier + PE and Metallized PET), and end-use (wine, spirit, olive oil, fruit juices, and others).
For additional information on how the growth of market will unfold over the following decade, write to [email protected]
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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