Rapid adoption in the pharmaceutical and food & beverage industry is the driver for the growth of the market.
NEW YORK, NY, UNITED STATES, May 14, 2022 /EINPresswire.com/ -- The global Bag On Valve Products market is forecast to reach USD 10.49 Billion by 2027, according to a new report by Reports and Data. Bag-on-valve (BOV) technology is considered to be rapidly increasing in the packaging of various personal care, pharmaceutical, and home care products. This technology also offers a significant advantage for aerosol products that require contactless dispensing. Due to the longer shelf life, the need for fewer or no preservatives, bag-on-valve technology is widely used in food and beverages, cosmetics, and pharmaceutical packaging. Several key food companies are implementing bag-on-valve technology for packaging sauces, oils, and other liquid and creamy products. This is likely to meet customer demand and requirements for convenience, ease of storage, and packaging.
The high cost associated with BOV technology is expected to hamper growth in the BOV products market. It protects the product from contamination and offers an attractive appearance compared to other forms of packaging. Besides, the need for additional pressurized gas and propellant with packaging products increases the overall cost of packaging. Lack of awareness of the benefit of BOV products among consumers is expected to limit growth in the BOV market over the forecast period. Also, the availability of cheaper alternatives is another major factor that is estimated to hamper market growth.
The COVID-19 impact:
The COVID-19 pandemic is expected to have a neutral impact on the global Bag On Valve Products market in 2020, the reason being the continuation of almost all sectoral activities except in the automotive and industrial sectors, which were responsible for the significant demand in market share terms in 2019. After the pandemic, however, trends discussed in the study of the global market do hold ground.
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Key participants include AptarGroup, Inc., Coster Tecnologie Speciali S.p.A., LINDAL Group Holding GmbH, Summit Packaging Systems, Exal Corporation, Precision Valve Corporation, KOH-I-NOOR Mlada Vozice, Chicago Aerosol, TOYO & DEUTSCHE AEROSOL GmbH, and Shanghai Golden Aerosol, among others.
Further key findings from the report suggest
• The pharmaceutical industry adopts advanced packaging technology, such as BOV technology, to offer perfectly safe and clean products. The technology protects the product from contamination and also provides a controlled dosing system. Therefore, the growing demand from the pharmaceutical industry is expected to stimulate market growth.
• Qualities such as comfortable to hold, lightweight, and non-breakability stimulate market demand. Manufacturers are developing aerosol cans using aluminum on a large scale, due to their recyclable nature and its low cost.
• The increased use of aerosol packaging solutions for home care products such as cleaners and disinfectants is expected to increase the growth of the market over the forecast period. The improvement in the standard of living associated with the increase in the disposable income of the population should also encourage the growth of the market.
• Europe is expected to have a significant market share in the global market in the coming years. BOV packaging is likely to see rapid development in Europe for products that include eye showers for wounds and cleansers. The latest product development, particularly in the pharmaceutical sector, implements innovative packaging using bag-on-valve technology.
• North America should also experience impressive development in the global market. Significant development of market growth will be observed in the Asia-Pacific region in the future.
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For the purpose of this report, Reports and Data have segmented into the global Bag On Valve Products market on the basis of Product Type, Container Type, Application, and Region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
• Low Pressure/Non-Spray
Container Type Outlook (Revenue, USD Billion; 2017-2027)
• Tin Plate
Application Outlook (Revenue, USD Billion; 2017-2027)
• Personal Care
• Household Care
• Food and Beverage
• Automotive and Industrial
• North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of APAC
• Latin America
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o Rest of MEA
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Key point summary of the report:
• It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
• The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
• Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
• The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
• The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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