BAG ON VALVE TECHNOLOGY MARKET ANALYSIS

Bag On Valve Technology MarketSize and Trends

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.

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

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.

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

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.