BAG ON VALVE TECHNOLOGY MARKET ANALYSIS

Global Bag On Valve Technology market was valued at US$ 423.6  Mn in 2022, exhibiting a CAGR of 3.22 % in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 545.8  Mn by 2030. The bag on valve technology (BOV) is an advanced packaging solution that provides a controlled dosing option. Bag on valve technology is composed of an aerosol valve and offers superior dispensing technology. Aerosol BOV, standard BOV, and non-spray/low-pressure BOV are some of the product types of the bag on valve technology. This modern packaging solution prevents contamination of the product as it has space between the can and bag, and the bag is filled with propellant. Cosmetics & personal care, pharmaceuticals, home care, food & beverages, and automotive & industrial are some of the major application areas of the bag on valve technology. Aluminum, tin plate, steel, and plastic are major product that utilizes bag on valve technology.

Global Bag On Valve Technology Market- Impact of Coronavirus (Covid-19) Pandemic

The COVID-19 outbreak has majorly impacted the global Bag On Valve Technology market negatively, owing to the strict lockdown and stringent regulations, followed by the government, and thus there was a decrease in demand for bag on valve technology. Moreover, the production process of the Bag On Valve Technology is disrupted due to social distancing and a lack of manpower. In addition, the market for Bag On Valve Technology has been impacted by political and economic developments in addition to the pandemic. Although growing demand for Bag On Valve Technology after COVID-19 is expected to witness significant market growth during the forecast period.

Figure.1 Global Bag On Valve Technology Market, By Application , 2022

To learn more about this report, request sample copy

Global Bag On Valve Technology Market - Growth Drivers

• Growing awareness regarding environment-friendly packaging solutions

Growing awareness regarding environment-friendly packaging solutions is fueling the growth of global bags on the valve technology market. BOV packaging uses aluminum as raw material which can be recycled easily with no harmful chemicals left in landfills. Moreover, BOV technology also reduces the amount of volatile organic compounds (VOCs), unlike traditional aerosols. Hence, rising awareness regarding the environment-friendly packaging solution is expected to propel the market growth of BOV.

• Rising demand for contamination-free controlled dosing systems from the pharmaceutical industry

Rising demand for contamination-free controlled dosing systems from the pharmaceutical industry is anticipated to offer potential growth opportunities to the market of BOV in the years to come. The pharmaceutical industry is adopting advanced packaging technology such as BOV technology to offer 100% safe and clean products. BOV technology not only protects the product from contamination but also offers a controlled dosing system. Hence, the growing demand for BOV from the pharmaceutical industry is expected to foster market growth.

Global Bag On Valve Technology Market - Restraints

• High cost associated with the BOV technology

High cost associated with the BOV technology is expected to hinder the market growth of BOV. It not only protects the product from contamination but also offers an attractive look compared to other forms of packaging. Moreover, the need for additional pressurized gas and propellant with packaging products increases the overall cost of packaging. Therefore, the high cost of the BOV technology is projected to hinder the BOV technology market. Furthermore increasing demand for BOV technolgy is expected ti witness significant market growth during forecast period.

• Lack of awareness regarding the advantage of BOV

Lack of awareness regarding the advantage of BOV among consumers coupled with the lower affordability is expected to restrict the market growth of BOV over the forecast timeframe. Moreover, the availability of cheaper substitutes is another major factor that is estimated to hinder the market growth of BOV over the forecast timeframe. Furthermore increasing demand for environment-friendly packaging solutions is expected ti witness significant market growth during forecast period.

Market Opportunities

• Rising application of bag on valve packaging from the food & beverage industry

Rising application of bag-on-valve packaging from the food & beverage industry as it is suitable for packaging food products since it maintains the freshness and purity of the product are expected to foster the market growth of bag-on-valve technology. This technology ensures integrity and helps to keep the food product fresh for a longer time. Moreover, bag-on-valve also provides precise and efficient usage of food products.

• The growing popularity of non-spray BOV products

The growing popularity of non-spray BOV products that offer high efficiency with fewer contamination effects is expected to offer lucrative growth opportunities to the market of BOV. The content present in not spray system dispenses in a pouring manner and is ideal for products such as cooking oils, coffee concentrates, flavorings, and wound washes. Hence, non-spray BOV product is gaining huge traction in the market and this is expected to foster the market growth of BOV technology.

Figure.2 Global Bag On Valve Technology Market, By Region, 2022

To learn more about this report, request sample copy

Market Trends

• The growing focus of the manufacturer to enhance the production capacity of aerosol packaging

The growing focus of the manufacturer to enhance the production capacity of aerosol packaging to cater to rising demand is expected to boost the market growth of bag-on-valve technology. For instance, in July 2019, US aerosol packaging company Tri-Pac opened its new facility in Indiana. The new US$8 million, 65,000 square-foot facility is set over 10 acres in the city of South Bend. The contract filling and packaging company, specializes in over-the-counter and specialty aerosols and liquids.

• Increasing usage of aerosol packaging solutions for home care products

Increasing usage of aerosol packaging solutions for home care products such as cleaners and disinfectants is expected to augment the market growth of bag-on-valve technology over the forecast period. Improving the standard of living coupled with the increasing disposable income of the people is further anticipated to foster the market growth of bag-on-valve technology.

Segment information:

By application segment, the Global Bag On Valve Technology Market is categorized into automotive & industrial, food & beverages, home care, cosmetics & personal care, and pharmaceutical. The pharmaceutical segment held the largest market share in 2022 and is further projected to grow at the highest CAGR during the forecast period owing to its safety criterion. Pharmaceuticals can benefit from bag-on-valve (BOV) technology, which has several benefits including a longer shelf life with fewer preservatives, an even and controlled spraying pattern at any angle, up to 100% product emptying, no pumping motion required, full recycling, suitability for both liquid and viscous products, no requirement for flammable propellants, hygienic and sterilizable, and use with environmentally friendly air or nitrogen.

Global Bag On Valve Technology Market– Recent Developments

• In 2016, Toyo & Deutsche Aerosol GmbH launched THE DUAL, a new and convenient luxury packaging for the cosmetics industry. It combines two pouches on one valve. Both the product can be released with one push.
• In 2020, Signature Filling Company adopted the Bag-on-Valve Filling technology for the Packaging Industry. A well-known aerosol filling business, Signature Filling Company is known for its high-quality bag on valve filling products.

Global Bag On Valve Technology Market– Regional Insights

Europe held the largest revenue share of 33 % in the Global Bag On Valve Technology Market in 2022 and is expected to maintain its dominance over the forecast period. Furthermore, Europe region is projected to be the fastest-growing region in the global Bag On Valve Technology market during the forecast period. Moreover, the growing demand for the cosmetics industry in Europe is expected to witness significant market growth in Europe during the forecast period.

Global Bag On Valve Technology Market – Key Players

Key players operating in the global bag on valve technology market are Coster Tecnologie Speciali S.p.A., AptarGroup, Inc., LINDAL Group Holding GmbH, Precision Valve Corporation, KOH-I-NOOR Mlada Vozice a.s, Exal Corporation, TOYO & DEUTSCHE AEROSOL GMBH, Summit Packaging System, Inc., Chicago Aerosol LLC, and Shanghai Golden Aerosol Co., Ltd.

*Definition: The Bag-On-Valve is a cutting-edge, environmentally friendly dispensing technology developed to extend product life and enhance customer satisfaction. A one-way dispensing device called Bag-On-Valve separates the product and propellant.