DUBAI, U.A.E., June 3, 2021 /PRNewswire/ -- In its latest report, ESOMAR-certified consulting firm Future Market Insights projects a positive outlook for global bag-on-valve laminate market for the forecast period between 2021 and 2031. The market is expected to rise at 5.5% CAGR over the course of the assessment period.
Traditional packaging of healthcare products such as nasal spray and wound washes are now being done using bag-on-valve packaging. Increasing application of bag-on-valve laminates in diverse end-use sectors such as personal care, healthcare and home care industry is propelling the market growth.
Benefits such as ease of dispensing, maximum utilization of content, and safer packaging option are the factors that are bolstering demand among end users. Growing demand of safe packaging of sterilized products within healthcare industry is providing stimulus to the market.
Bag-on-valve laminates sales are gaining momentum in the packaging of veterinary products due to their flexible packaging and ease of dispensing. As per FMI's analysis, increasing demand for safe packaging with no contamination within healthcare industry is spurring the sales of bag-on-valve laminates.
Surging demand from food & beverage industry and personal care industry will accelerate the market growth in the upcoming decade.
"Increasing popularity of safe packaging for natural and herbal cosmetics is improving the demand for bag-on-valve laminates. This is in turn accelerating the production of bag-on-valve laminates and creating growth opportunities for leading players," says the FMI analyst.
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Key Takeaways from FMI's Bag-on-valve laminates Market Study
- In terms of packaging format, bag segment is the most top selling segment, exhibiting a CAGR of 6.6% through 2031
- Aseptic fill is anticipated to account for a dominant share of 30% in the bag-on-valve laminates market
- Aluminum laminates are the most preferred type in terms of material owing to its high barrier strengths compared to others
- Increasing application in healthcare industry will account for over 35% bag-on-valve sales
- The U.S. is expected to be the leading market for bag-on-valve laminates, surpassing a valuation of US$ 71.2 million by 2031
- Germany and the U.K. will exhibit high demand for bag-on-valve laminate market within the Europe market
- India's bag-on-valve laminate market estimated to exceed a valuation of US$ 12 million in 2021
- China's expanding manufacturing sector is expected to provide lucrative opportunities for market players, poised to expand at 7.6% CAGR
- Countries such as France and Canada will exhibit positive growth throughout the forecast period
Increasing focus on providing innovative solution with sustainable packaging is the key strategy for the leading player in global bag-on-valve laminates market. Manufacturers are intent on providing new products to expand their global reach and hence are emphasizing on investing heavily on research & development activities. This in turn, is expected to provide lucrative opportunity for market players across the globe.
In February 2021, UFlex, a leading packaging company, announced the expansion of its packaging films business in domestic as well as international regions. The expansion was announced on the back of 89% sales within its packaging business in 2020.
In May 2020, Doctors Kline and Green launched new bag on valve spray and aerosol foam hand sanitizer solution for an easy to dispense pressurized packaging.
In 2018, Lindal Group, a global aerosol packaging technology leader, announced the opening of a new laboratory dedicated to the increasingly popular bag-on-valve technologies.
Some of the key players profiled by Future Market Insights include:
- Aptar Group
- Amcor plc
- Precision Valve Corporation
- TUNAP Group
- Lindal Group
- Summit Packaging Systems
- Gualapack S.p.A.
- Coster Tecnologie Speciali S.p.A
- Chicago Aerosol, LLC
- Wipf Doypak
- Farrag Packaging
- KOH-I-NOOR Mladá Vožice A.S.
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More Insights into the Global Bag-On-Valve Laminates Market
In its latest report on global bag-on-valve laminates, FMI provides deeper insights on the key trends of the market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of:
- Polypropylene (PP)
- Oriented Polypropylene (OPP)
- Cast Polypropylene (CPP)
- Polyethylene Terephthalate (PET)
- Cold Fill
- Aseptic Fill
- Ambient Fill
- Home care
- Personal care
- Others (Chemical)
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
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Key Questions Covered in the Report
- What will be the future outlook for bag-on-valve laminates market?
- Which region will emerge as the most lucrative market during the forecast period?
- Which are the key trend that will drive the bag-on-valve laminates market demand?
- What are the challenges that will affect the growth of bag-on-valve laminates market?
- Which segment will remain the most lucrative throughout the forecast period?
- What is the impact of Covid-19 on bag-on-valve laminates market?
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