Bag-on-Valve Technology Market to Attain a Valuation of USD 725.6 million by 2031: Transparency Market Research Study
By making investments in sustainable practices and process automation, firms in the market are concentrating on boosting their production capacity.
Wilmington, Delaware, United States, Dec. 14, 2023 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. -* The global bag-on-valve technology market was projected to attain US$ 457.5 million in 2022. It is anticipated to garner a 4.3% CAGR from 2023 to 2031 and by 2031, the market is likely to *attain US$ 725.6 million* by 2031.
Companies that produce food, home goods, pharmaceuticals, and personal care items in order to provide innovative and environmentally friendly packaging solutions prefer bag-on-valve packaging technology. The growing knowledge of environmentally conscious customers towards sustainable packaging is probably going to push manufacturers to use bag-on-valve technology to outperform their rivals.
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*Global Bag-on-Valve Technology Market: Key Players *
To strengthen their position in the market, significant businesses involved in this global sector are implementing a variety of tactics, including the introduction of new products and increased investments in manufacturing facilities. Prominent enterprises are embracing the most recent developments in the bag-on-valve technology industry and extending their production lines to enhance their manufacturing capabilities and meet the growing demands of their clientele.
Companies can expand their range of products by introducing new ones. The following companies are well-known participants in the global bag-on-valve technology market:
· Coster Tecnologie Speciali S.p.A.
· AptarGroup, Inc.
· LINDAL Group Holding GmbH
· Precision Valve Corporation
· KOH-I-NOOR Mladá Vožice a.s.
· Exal Corporation
· TOYO & DEUTSCHE AEROSOL GMBH
· Summit Packaging System, Inc.
· Chicago Aerosol, LLC
· Shanghai Golden Aerosol Co., Ltd.
*Key Findings of the Market Report *
· Bag-on-valve technology has several advantages, including a longer shelf life and a reduced need for preservatives, an even and regulated spray pattern for best outcomes, the ability to be utilized from any angle, and no requirement for pumping action.
· The valve bag has a low breaking rate, is easy to transport, and increases packing efficiency.
· In the cosmetics and personal care sector, bag-on-valve technology is widely used to store hairspray, colorizing spray, SPF sunscreen, tanning spray, lotions and creams, and personal hygiene items.
· The pharmaceutical industry also uses bag-on-valve technology because it keeps medicines pure and prevents product contamination.
*Market Trends For Bag-on-valve Technology*
· The aerosol B.O.V. category has a market share of around 62% in 2022 in the bag-on-valve technology due to a rise in spray product manufacturing. Spray products apply evenly and are simple to use. Pharmaceutical manufacturers provide a wide range of spray products, including nasal sprays, sanitizers, surface disinfectants, and pain relievers.
· To facilitate application and cut down on product waste, producers in the personal care and cosmetics industry are also introducing sunscreens, cleansers, lotions, and facial oils in spray bottles.
· It is possible for germs, moisture, heat, and incorrect storage temperatures to contaminate packaged goods. Cosmetics, pharmaceuticals, and food items are more likely to become contaminated, which lowers the quality of the product and can have harmful side effects. Sterilized packaging is made possible via bag-on-valve technology, which helps prevent product contamination from external sources.
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*Global Market for Bag-on-Valve Technology: Regional Outlook*
Various reasons are propelling the growth of the bag-on-valve technology market throughout the region. These are:
· Throughout the forecast period, Europe is expected to hold a significant portion of the market. The increased regional demand and supply of cosmetics and personal care products are driving the adoption of bag-on-valve technology in the packaging sector.
· The bag-on-valve industry is growing due to the increased demand for pharmaceutical packaging. The implementation of stringent government laws on eco-friendly packaging techniques is driving market demand.
*Some key developments by the players in this market are:*
*Company name * *Key Developments*
LINDAL Group · Leading producer of spray caps, actuators, and valves for aerosol goods, LINDAL Group, declared in October 2023 that bag-on-valve production would be expanding.
· To meet the increasing demands of its clientele, the firm made investments in enlarging its production facilities in North America and Europe.
ITC Engage · Reputable fragrance manufacturer ITC Engage debuted a new line of Engage L'amante Luxury Perfume Spray in June 2023, with bag-on-valve technology.
· This innovative product, which uses eco-friendly propellant enabled by technology, reflects the scent of the future.
*Global Bag-on-Valve Technology Market Segmentation *
*Product*
· Aerosol B.O.V.
· Standard B.O.V.
· Non-spray/ Low Pressure B.O.V.
*Valve*
· Male Valve
· Female Valve
*Application*
· Cosmetics & Personal Care
· Pharmaceuticals
· Home Care
· Food & Beverages
· Automotive & Industrial
*Capacity*
· Below 30ml
· 30ml-100 ml
· 100ml-275ml
· 275ml-500ml
· Above 500ml
*Container Type*
· Aluminum
· Tin Plate
· Steel
· Plastic
*Region*
· North America
· Europe
· Asia Pacific
· Middle East & Africa
· Latin America
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