The global bag on valve laminates market size expanded rapidly in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the bag on valve laminates market is projected to generate substantial revenue by 2028, a robust CAGR during the forecast period. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
A particular kind of packaging called bag on valve laminates is designed to guarantee proper product filling and distribution.Materials including PET, aluminium, cast polypropylene, and polypropylene are frequently utilised. Because of its creative packaging, Bag on Valve (BoV) technology has been gaining popularity across a range of industries. By separating the product from the propellant using BoV technology, the contents are kept sanitary and protected and are not contaminated by the propellant. This makes it very well-liked in the food, cosmetics, pharmaceutical, and personal care sectors.
Pharmaceutical items including inhalers and wound care treatments frequently use BoV technology. BoV packaging is advantageous for products like shaving foams and sunscreens because of the controlled delivery. The market for environmentally friendly packaging materials is expanding. Businesses are searching for laminates that are both eco-friendly and practical. The COVID-19 pandemic brought sterile packaging to the forefront, which could increase the need for bag on valve laminates technology in the pharmaceutical industry and other critical areas.
COVID-19 Impact: The Lockdowns Raised Demand for Hygienic Habits and Online Shopping Rebooted the Market Growth
The pandemic increased people's awareness of hygienic issues and hygiene. The BoV technology guarantees a sterile environment by keeping the product and propellant apart. This characteristic probably increased the market for BoV laminates during the epidemic by making BoV systems more enticing. It's possible that the pharmaceutical sector, which depends so heavily on sterile packaging, used BoV technology more frequently during the pandemic. The requirement for BoV laminates was impacted by the growing demand for products that use BoV systems, such as inhalers and wound care products. Demand for packaging was impacted by shifts in customer behaviour, such as an increase in internet shopping. BoV laminate demand may have been impacted by e-commerce scenarios favouring BoV technology due to its product lifetime and ease of usage.
"Growing Trend Towards Sustainable and Eco-Friendly Packaging to Nurture the Market Growth Potentially"
The market for environmentally friendly and sustainable packaging materials is expanding. In an effort to lessen their influence on the environment, manufacturers are looking into compost-able, recyclable, and biodegradable laminates. Employing recyclable or reusable materials helps businesses create a circular economy by cutting down on waste. Concerns about safety led to a spike in the usage of single-use plastics, but sustainability was still the major priority. Companies may have chosen certain laminates even within BoV systems due to their ongoing search for environmentally friendly packaging solutions. It's possible that the pandemic's sense of urgency spurred innovation and development in packaging materials, especially laminates. Businesses may have spent money creating laminates for BoV systems that were more economical, efficient, or sustainable.
Based on type the market is classified as PET, PP, aluminium and others.
Based on application the market is classified as healthcare, personal care, home care and others.
"Rising Demand for Personal Care Products and Rise in Disposable Income to Double the Market Share"
The growing need for personal care goods is the main factor driving the bag on valve laminates industry. Furthermore, the market's growth rate would be moderated by the increase in demand for medicinal sprays. The market for bag on valve laminate will also be influenced by other factors like the growing emphasis on men's grooming and the expanding public knowledge of the benefits of bag on valve laminate. Another noteworthy factor that will accelerate the market's growth rate is the increase in disposable income. Additionally, the growing interest in the pharmaceutical and personal care sectors will moderate the growth pace of the bag on valve laminates market. The importance of packaging that is free of contaminants and the environment is becoming more widely recognised, which will accelerate market growth. Growing e-commerce and rising industrialization will be key industry drivers that will accelerate the expansion of the market.
"Surging Demand from Real Estate and Developing Nations to Supplement the Market Growth"
Technological advancements along with rising demand from emerging markets and real estate will present advantageous growth prospects for the bag on valve laminates industry. During the above mentioned forecast period, rising investment levels and the emergence of new markets will also serve as significant market drivers and create even more potential for the market's growth. Additionally, an increase in R&D efforts will boost pharmaceutical industry production and have a favourable effect on the rate of bag on valve laminates market growth.
"Fluctuating Price of Raw Materials and Supply Chain to Restrain the Market Growth"
Although laminates related to Bag on Valve (BoV) technology have many benefits, there are drawbacks and difficulties with this packaging technique. The lack of government initiatives in developing nations and the volatility of raw material prices will slow the rate of expansion of the bag on valve laminates market. The effects of COVID-19 on the supply chain will be a significant obstacle to the market expansion for bag on valve laminates. The growing worry over plastic use and its effects on the environment may slow down the growth of the bag on valve laminates market. These limitations and drawbacks combined have a substantial influence on bag on valve laminates market growth.
"Europe to Dominate the Market with Pharmaceutical and Personal Care Industries"
In terms of revenue, the European region dominated, accounting for the major bag on valve laminates market share. Europe has been a dominant region for BoV technology adoption. Several European countries, especially those in Scandinavia, have been early adopters of innovative packaging technologies, including BoV systems. This region has a strong focus on environmental sustainability and hygiene, which aligns well with the advantages offered by BoV technology. The pharmaceutical industry in Europe has also been a significant driver of BoV adoption due to the technology's ability to provide sterile and aseptic packaging solutions. The region have shown growing interest in BoV systems, driven by advancements in healthcare and personal care industries.
KEY INDUSTRY PLAYERS
"Financial Players to Contribute Towards Expansion of Market"
The industry is tremendously competitive, with numerous global and regional companies. Major players are contemplating numerous plans such as mergers and acquisitions, collaborations, the introduction of new and improved products, and joint ventures.
List of Market Players Profiled
- Amcor (Switzerland)
- Wipf Doypak (Istanbul)
- Lindal Group (Germany)
- BOV Solutions (U.S.)
- Coster Group (U.S.)
- Aveflor (U.S.)
- Gualapack Group (Italy).
The report includes a SWOT analysis as well as information on potential developments. The examination of a variety of elements that encourage market expansion is included in the research report. This section also includes a wide range of market categories and applications that may have an impact on the market in the future. The details are based on current trends as well as historical turning moments. The current situation of the market's components and prospective growth areas in the coming years.
Frequently Asked Questions
Which is the dominant region of the bag on valve laminates market?
Europe is the dominant region in the bag on valve laminates market.
Which are the driving factors of the bag on valve laminates market?
The rise in disposable income and demand for personal care products, surging demand for real estate and developing nations are the driving factors of the market.
Which are the key players functioning in the market?
Amcor, Wipf Doypak, Lindal Group, BOV Solutions, Coster Group, Aveflor, Gualapack Group and others.