Interest of Pharmaceutical Industry in Bag-on-valve (B.O.V.) Technology Market Driven by Safety Criterion, Global Revenues to Surpass US$ 500.1 Mn by 2024
- Adoption of advanced barrier packaging by cosmetics and personal care brands to spur investment in bag-on-valve technology market, higher product dispensing reliability and user comfort are key criteria
- Pharmaceutical packaging to see rise in B.O.V applications, recyclability of the packaging and product integrity protection have enabled the industry to comply with stringent regulations
ALBANY, N.Y., Jan. 19, 2021 /PRNewswire/ -- Bag on valve technology has emerged as a superior barrier packaging over traditional aerosol packaging. A wide array of personal care products are leveraging the gains of B.O.V. technology, where different liquid and viscous products can be dispensed with remarkable user comfort. Some of the salient characteristics that shape the products in the B.O.V. market are 360° actuation and dispensing, hygiene and sterility, main product integrity, and environmental friendliness of the aluminum packaging material. These criteria have attracted pharmaceutical companies to adopt bag-on-valve systems for dispensing medical and therapeutic solutions with high reliability. Both cosmetics and pharmaceuticals are key end users for industry players in the B.O.V. market. Rise in applications in the coming years will propel the market to reach worth of more than half-a-billion dollars in revenues by the end of the forecast period (2017 - 2024).
Analysts at TMR observe a major chunk of bag-on-valve market revenues coming from the aerosol B.O.V. product, due to high preference.
Key Findings of Bag-on-valve (B.O.V.) Technology Market
Cosmetics brands position B.O.V. packaging as differentiator
The personal care and cosmetics packaging industry has been steadily preferring B.O.V. technology due to wide array of advantages it offers over traditional aerosol spray. The B.O.V. market is witnessing rise in investments from the industry. A variety of liquid and viscous products, including gels, can be dispensed with standard actuators with good control by the user. Moreover, the use of fewer preservatives adds to the shelf life of the final product, making the investments more sustainable for the packaging industry. Further and more importantly when brands compete for differentiating their products with unique packaging, B.O.V technology allows them to stay ahead of the curve. They attach high value to the packaging in post-Covid era due to the technology becoming an enabler for ensuring hygienic dispensing system.
Pharmaceuticals consider B.O.V. as high-end solution to meet safety compliance
Over the years, a steady demand in the B.O.V. technology market has come increasingly from the pharmaceutical industry. The high product integrity, the purity of formulation, and controlled spray pattern are some of the gains the pharma and medical industry will continue to harness from B.O.V. in coming years. A case in point is use of B.O.V. applications in high purity saline formulations.
Most importantly, what attracts pharmaceutical brands to adopt bag-on-valve technology in the packaging is the safety concerns. The technology enables the end-use industry in zero- contamination tolerance. The dispensing is reliable to meet high standards characteristic of the industry.
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Bag-on-valve (B.O.V.) Technology Market: Key Driving Factors and Promising Avenues
High end-use consumer awareness of the benefits of bag-on-valve technology drives demand
Environmental friendliness of the packaging integrated with B.O.V. is a key consumer value proposition for several personal care brands
Strides made in cosmetic packaging drives interest in bag-on-valve barrier packaging
The use of aluminum is one of the key reasons for the high recyclability of the product packaging
Favorable regulatory outlook notably in Europe drives revenue potential in the B.O.V technology market
Rapid growth of the pharmaceutical industry in developing regions bolsters demand for high-end packaging technology
Explore 235 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Bag-on-valve Technology Market (Product - Aerosol B.O.V., Standard B.O.V., Non-spray / Low-pressure B.O.V.; Valve - Male Valve, Female Valve; Container - Aluminum, Tin Plate, Steel, Plastic; Capacity- Below 30ml, 30ml-100ml, 100ml-275ml, 275ml-500ml, Above 500ml; Application- Cosmetics & Personal Care, Pharmaceuticals, Home Care, Food & Beverages, Automotive & Industrial Products) - Global Industry, Size, Share, Growth, Trends, and Forecast 2017 – 2024 at https://www.transparencymarketresearch.com/bag-on-valve-technology-packaging-market.html
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