Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Bag On Valve Products market.
Trusted Business Insights presents an updated and Latest Study on Bag On Valve Products Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Bag On Valve Products market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Bag On Valve Products Market
The global bag on valve products market size was estimated at USD 6,017.4 million in 2018, growing at a CAGR of 6.8% over the forecast period. Rising demand for the bag on valve products from various application industries including personal care, household care, pharmaceutical, food & beverage, and others is estimated to drive the market growth.
Benefits of the bag on valve products including safety, contact-free dispensing, consumer convenience, product protection, and controlled discharge of the product are estimated to propel the market growth over the forecast period. In addition, longer shelf life and less preservative, this is likely to further augment the industry growth.
Expansion of the pharmaceutical industry in North America owing to rising health concerns among the people is likely to result in introduction of bag on valve products. Rising technological advancements is further estimated to boost the development of products such as medical adhesive remover spray, throat spray, and others, which is projected to propel the market growth.
Growth of the pharmaceutical and personal care industries across the globe on account of factors such as growing awareness among the people, increased spending power, and improved standard of living is expected to benefit the market. In addition, introduction of environment friendly products for use in pharma and food & beverage industries is expected to drive growth.
The ease in availability of traditional packaging across the application segments coupled with its convenience in usage is estimated to limit the product demand. In addition, the high cost involved in the production of bag on valve products is further anticipated to increase the switching cost for the manufacturers, which is further expected to restrict the industry growth.
Application Insights of Bag On Valve Products Market
The pharmaceutical application segment accounted for the highest market share of 37.98% in terms of revenue in the year 2018. In addition, the industry is expected to register notable gains on account of the ease of sterilization of pharmaceutical products such as wound cleaners and nasal sprays, in the bag on valve products packaging.
The food & beverage application segment is estimated to grow at a CAGR of 7.6% from 2021 to 2026 and reach USD 2,295.9 million in 2025. The increasing use of bag on valve products in packing whipped cream, toppings and dressings, and others on account of ease of packaging and dispensing is anticipated to propel the product demand over the forecast period.
The household care application segment accounted for USD 961.5 million in 2018 and is anticipated to grow at a CAGR of 6.1% from 2021 to 2026. Rising demand for cleaners, insecticides, air fresheners, and others in developing economies owing to the expansion of the residential sector coupled with rising disposable incomes is likely to augment the segment growth.
The penetration of bag on valve products in automotive and industrial segment is expected to remain low as the adoption is largely limited to greases and lubricants. In addition, extensive availability of substitute packaging alternatives for the automotive and industrial products is expected to limit the product growth in the said application segment.
Regional Insights of Bag On Valve Products Market
The industry in Asia-Pacific region is estimated to grow at the highest rate accounting for a CAGR of 8.2% from 2021 to 2026. The factors such as rapid industrialization and expansion of various industries including pharmaceutical, food & beverage, automotive, and others is projected to result in the positive growth.
Increasing spending power, changing lifestyle and demand for convenient packaging among the people is anticipated to propel the demand for the bag on valve products. In addition, the product is eco-friendly and recyclable which enables the substitution of conventional packaging materials leading to the growth of the bag on valve products market.
The Europe bag on valve products market is projected to witness growth over the forecast period and reach USD 4,289.8 million by 2025. Expansion of the pharmaceutical industry in the region owing to the growing health concerns among the people is estimated to propel the demand for pain relief sprays, nasal sprays, wound cleaners, and others.
The technological advancements in the product manufacturing coupled with the introduction of the new bag on valve products such as eyewash require a constant pressure and flow rate, are expected to drive growth. In addition, the development of a product such as double bagged sterile disinfection spray used to sanitize the machinery and surfaces is likely to propel the market growth.
Market Share Insights of Bag On Valve Products Market
Bag on valve products are increasingly gaining recognition mainly for its controlled spraying pattern and effective filling process. The key players are adopting strategies such as new product innovation, mergers & acquisitions, joint ventures, and partnerships, to gain competitive advantage.
Prominent players of the industry include LINDAL Group, Coster Group, Aptar Group, Summit Packaging Systems, Precision Valve Corporation, KOH-I-NOOR Mlada Vozice, Exal Corporation, and others. The companies are increasingly investing in R & D to develop customer specific solutions and gain stronger market position.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Bag On Valve Products Market Research Report
This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the bag on valve products market on the basis of application, and region:
Application Outlook (Volume, Million Units; Revenue, USD Million; 2014 – 2025)
Liquid Soap & Shampoo
Hair Gels & Shaving Products
Food & Beverage
Toppings & Dressings
Automotive & Industrial
Quick Read Table of Contents of this Report @ Bag On Valve Products Market Size, Share, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
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