PUBLISHER: The Business Research Company | PRODUCT CODE: 1427717
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427717
Bag-on-valve (BOV) products encompass packaging solutions utilizing a bag and a valve mechanism for dispensing various materials. This packaging technique proves effective for liquid or viscous substances, with the product being dispensed as a spray, cream, or gel through the activation of compressed air or nitrogen.
The primary categories of bag-on-valve products include standard, aerosol, low pressure, and non-spray variants. Standard products adhere to established specifications and quality criteria and may include child-use and general-use items. These products utilize containers made from materials such as aluminum, steel, tin plate, and plastic. Bag-on-valve products find applications in diverse sectors, including personal care, household care, pharmaceuticals, food and beverage, automotive, and industrial.
The products in bag on valve products market research report is one of a series of new reports from The Business Research Company that provides products in bag on valve products market statistics, including products in bag on valve products industry global market size, regional shares, competitors with a products in bag on valve products market share, detailed products in bag on valve products market segments, market trends and opportunities, and any further data you may need to thrive in the products in bag on valve products industry. This products in bag on valve products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The bag on valve products market size has grown strongly in recent years. It will grow from $8.1 billion in 2023 to $8.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed in the historical period for bag-on-valve (BOV) products can be attributed to their widespread utilization in the food and beverage industry, contributing to enhanced product shelf life. Additionally, the demand for convenience from consumers has driven adoption across various industries, including pharmaceuticals and medical applications, as well as the cosmetics and personal care sector. The unique benefits offered by BOV products have played a significant role in their adoption across diverse industries.
The bag on valve products market size is expected to see strong growth in the next few years. It will grow to $11.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The forecasted growth in the bag-on-valve (BOV) products market can be attributed to several factors. The integration of BOV products with the Internet of Things (IoT) and smart packaging technologies is expected to enhance their functionality and appeal. Additionally, increased market penetration in emerging markets, a rise in e-commerce and direct-to-consumer channels, and the growing demand for clean and sterile applications are anticipated to drive the growth of BOV products. Key trends in the forecast period include the increased popularity of portable and travel-friendly products, improved barrier properties, a focus on recyclability and the circular economy, integration of biocompatible materials, and an emphasis on enhancing user experience and ergonomics.
The bag-on-valve product market is poised for significant growth due to multiple factors, primarily driven by the escalating demand for personal care products. These products, which encompass a wide array of personal hygiene and grooming items, are increasingly relying on bag-on-valve (BOV) technology for packaging. This technology offers numerous advantages, including enhanced product protection, controlled dispensing, and extended shelf life. For instance, reports from Loreal Cosmetic World revealed an exponential surge in demand for personal care products, soaring from 8% in 2021 to an impressive 41% in 2022, reaching $249.66 billion (228 billion euros). Moreover, the global cosmetics market experienced substantial growth, escalating from $5.8 billion in 2019 to $7.6 billion in 2022. Thus, this burgeoning demand for personal care items continues to be a pivotal driver for the bag-on-valve product market.
The rising consumer preference for sustainable packaging solutions is playing a pivotal role in propelling the bag-on-valve (BOV) products market forward. The focus on sustainable packaging encompasses the design, manufacturing, and utilization of packaging materials that exhibit reduced environmental impact across their lifecycle. Bag-on-valve technology's inherent environmental advantages, coupled with its efficient product dispensing, align seamlessly with this growing demand. As per SmashBrand's report, the sustainable packaging market is anticipated to experience a robust growth trajectory, projected to expand at a rate of 6% through 2027. Consequently, the increasing consumer inclination toward sustainable packaging solutions is poised to be a significant driver in the growth of the bag-on-valve (BOV) products market.
The bag-on-valve (BOV) product market is witnessing a surge in technological adoption, marking a significant trend among major industry players. Notably, companies are leveraging new technologies to fortify their market positions. For example, in January 2021, IBSA Farmaceutici Italia Srl., an Italy-based pharmaceutical firm, embraced bag-on-valve technology for packaging diverse products such as drugs, medical devices, and cosmetics, encompassing creams, gels, and liquids. BOV technology, constituting aseptic packaging employing a bag and a valve for dispensing products, boasts several merits. This approach involves filling the bag with the product, hermetically sealing it, and subsequently attaching the valve to enable dispensing without exposure to the external environment. Its user-friendly nature allows varied product dispensation forms, elevating safety, efficiency, and environmental sustainability across multiple applications.
Key players in the bag-on-valve products sector are emphasizing the integration of eco-friendly alternatives into their portfolios. These companies are dedicated to exploring and implementing alternative materials that not only enhance barrier properties but also ensure compatibility with diverse product formulations while promoting heightened recyclability. For instance, in April 2021, Salvalco, a UK-based aerosol valves manufacturer, unveiled Eco-Valve-an eco-conscious substitute for traditional bag-on-valve (BOV) products. Eco-Valve, offering a more cost-effective solution by reducing material usage compared to BOV, lowers expenses by approximately 25% to 50%. This innovation relies on Nitrogen, an inert gas, as the recommended propellant, ensuring compatibility with most formulations and, thus, making strides toward sustainability in product packaging.
In February 2023, R-V Industries Inc., a US-based industrial process equipment manufacturer, successfully completed the acquisition of MBC Aerosol, a US-based manufacturer specializing in bag-on-valve (BOV) products for aerosol production. The strategic acquisition is expected to accelerate R-V Industries' growth in the BOV products market, leveraging its expertise in delivering high-quality products and enhancing customer satisfaction. The move aims to strengthen R-V Industries' competitive position in the market and capitalize on the expanding demand for BOV products. The financial details of the acquisition were not disclosed.
Major companies operating in the bag on valve products market report are Amcor PLC, CCL Industries Inc., Aptar Group Inc., Constantia Flexibles, Plastipak Packaging Inc., Tekni-Plex Inc., Everton, Exal Corporation, TUNAP Group, Gualapack S.p.A, Precision Valve Corporation, Summit Packaging Systems Inc., DS Containers Inc., Lindal Group Holding GmbH, Chicago Aerosol LLC., Wipf Doypak A.S, Toyo And Deutsche Aerosol GmbH, B.O.V. Solutions Inc., InSpec Solutions LLC, KOH-I-NOOR Mlada Vozice a.s, Farrag Packaging, Aurena Laboratories AB, Colep Consumer Products, Coster Tecnologie Speciali S.p.A, Shanghai Golden Aerosol Co. Ltd.
Asia-Pacific was the largest region in the bag on valve products market in 2023. The regions covered in the bag on valve products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the bag on valve products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The bag-on-valve products market consists of sales of vacuum bag, aerosol valve, aerosol material, aerosol propellant, aerosol actuator, and aerosol cans. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Bag On Valve Products Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bag on valve products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bag on valve products ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bag on valve products market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.