Bag on Valve Technology Market, By Product Type, By Valve Type, By Container Type, By Application, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
Bag on Valve Technology Market size was valued at USD 433.12 million in 2023, expanding at a CAGR of 3.45% from 2024 to 2032.
The bag-on-valve (BoV) Technology Market is focused on innovative aerosol dispensing systems that use a bag attached to a valve, separating the product from the propellant. This system ensures a longer shelf life, eco-friendly packaging, and enhanced product quality. Increased demand for sustainable packaging and regulatory support for environmentally friendly products are key growth factors. Restraints include higher costs compared to traditional packaging. Opportunities lie in expanding applications across sectors like pharmaceuticals, cosmetics, and food. According to recent studies, the adoption of BoV technology in personal care products has surged by over 25% in Europe.
Bag on Valve Technology Market- Market Dynamics
Increased Demand for Sustainable Packaging Propels Growth in the Bag on Valve (BoV) Technology Market
The Bag on Valve (BoV) technology market is experiencing significant growth, driven by the increased demand for sustainable packaging solutions. This eco-friendly packaging technology, which separates the product from the propellant, is gaining traction across industries such as cosmetics, pharmaceuticals, and food and beverages. For instance, the Environmental Protection Agency (EPA) has highlighted the reduction in greenhouse gas emissions achieved through sustainable packaging practices like BoV. Additionally, several cosmetic brands are adopting BoV technology to align with the growing consumer preference for environmentally responsible products, further solidifying its role in the packaging industry.
Bag on Valve Technology Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 3.45% over the forecast period (2024-2032)
Based on product type segmentation, Standard BOV was predicted to show maximum market share in the year 2023
Based on valve type segmentation, Vertical Valve was the leading type in 2023
Based on container type segmentation, Aluminum was the leading type in 2023
Based on region, Europe was the leading revenue generator in 2023
Bag on Valve Technology Market- Segmentation Analysis:
The Global Bag on Valve Technology Market is segmented based on Product Type, Valve Type, Container Type, Application, and Region.
The market is divided into two categories based on product type: Standard BOV and Custom BOV. Standard BOV holds a higher priority due to its widespread adoption across various industries, particularly in personal care and household products. Custom BOV, while gaining traction, caters to specialized applications with specific requirements.
The market is divided into two categories based on Valve Type: Vertical Valve and Inverted Valve. Vertical Valve is prioritized higher due to its versatility and common usage in a wide range of products, including aerosols. The Inverted Valve is primarily utilized in specific applications, making it less common.
Bag on Valve Technology Market- Geographical Insights
The Bag on Valve (BoV) Technology market demonstrates varied growth patterns across different regions. Europe stands as the leading region, driven by stringent environmental regulations and a strong emphasis on sustainability. For example, the European Union's Packaging and Packaging Waste Directive has encouraged companies to adopt eco-friendly packaging solutions like BoV, contributing to significant market expansion in countries like Germany and France. North America is also witnessing substantial growth, propelled by increasing consumer awareness and demand for sustainable products. In the United States, several major players in the personal care and healthcare sectors are transitioning to BoV technology to meet the rising environmental standards and consumer preferences for non-aerosol, eco-friendly packaging options. The Asia-Pacific region, particularly China and Japan, is rapidly emerging as a key market for BoV technology. The region's growing industrial base and rising awareness of environmental issues have led to increased adoption of sustainable packaging solutions, making it a significant contributor to the global BoV market's growth trajectory.
Bag on Valve Technology Market- Competitive Landscape:
The Bag on Valve (BoV) Technology market is characterized by intense competition among key players that are focused on innovation, sustainability, and strategic partnerships to strengthen their market position. Leading companies like AptarGroup, Coster Tecnologie Speciali S.p.A., and Precision Valve Corporation dominate the market, leveraging their extensive expertise in aerosol and dispensing systems. AptarGroup, for instance, has been at the forefront of sustainable packaging solutions, with its recent acquisition of Fusion Packaging in 2020 enhancing its BoV offerings in the beauty and personal care sectors. This move aligns with the growing demand for eco-friendly and recyclable packaging options. Coster Tecnologie Speciali has also made significant strides by expanding its global footprint through strategic partnerships. In 2021, the company collaborated with Lindal Group to develop next-generation BoV systems that are more environmentally friendly, catering to the rising consumer demand for sustainable products. These initiatives underscore the competitive dynamics in the BoV Technology market, where sustainability and technological advancements are key drivers of success.
Recent Developments:
In October 2023, LINDAL Group expanded its Bag-on-Valve (BOV) production in Europe and North America to meet rising demand. This investment enhances global capacity, offering improved lead times and flexibility for customers while reinforcing LINDAL's commitment to BOV technology and its benefits.
In June 2023, ITC Engage launched Engage L'amante Luxury Perfume Sprays featuring Bag-on-Valve technology, promoting eco-friendly propellants. This innovation aims to enhance sustainability in fragrance delivery, reflecting ITC's commitment to creating memorable olfactory experiences while addressing environmental concerns.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL BAG ON VALVE TECHNOLOGY MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
AptarGroup, Inc.
Aurena Laboratories AB
BOV Solutions
Chase Products Co.
Chicago Aerosol LLC
Contract Filling Inc.
Coster Group
Exal Corporation
KOH-I-NOOR Mlada Vozice a.s.
Lindal Group Holding GmbH
MBC Aerosol
Plastipak Holdings, Inc.
Precision Valve Corporation
Signature Filling Company LLC
Summit Packaging Systems, Inc.
The Bronx Group
Others
GLOBAL BAG ON VALVE TECHNOLOGY MARKET, BY PRODUCT TYPE- MARKET ANALYSIS, 2019 - 2032
Standard BOV
Custom BOV
GLOBAL BAG ON VALVE TECHNOLOGY MARKET, BY VALVE TYPE- MARKET ANALYSIS, 2019 - 2032
Vertical Valve
Inverted Valve
GLOBAL BAG ON VALVE TECHNOLOGY MARKET, BY CONTAINER TYPE- MARKET ANALYSIS, 2019 - 2032
Aluminum
Steel
Plastic
GLOBAL BAG ON VALVE TECHNOLOGY MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
Pharmaceuticals
Personal Care
Household Products
Food & Beverages
Industrial
GLOBAL BAG ON VALVE TECHNOLOGY MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Bag on Valve Technology Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Bag on Valve Technology Market Snippet by Product Type
2.1.2. Bag on Valve Technology Market Snippet by Valve Type
2.1.3. Bag on Valve Technology Market Snippet by Container Type
2.1.4. Bag on Valve Technology Market Snippet by Application
2.1.5. Bag on Valve Technology Market Snippet by Country
2.1.6. Bag on Valve Technology Market Snippet by Region
2.2. Competitive Insights
3. Bag on Valve Technology Key Market Trends
3.1. Bag on Valve Technology Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Bag on Valve Technology Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Bag on Valve Technology Market Opportunities
3.4. Bag on Valve Technology Market Future Trends
4. Bag on Valve Technology Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Bag on Valve Technology Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Bag on Valve Technology Market Landscape
6.1. Bag on Valve Technology Market Share Analysis, 2023
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Bag on Valve Technology Market - By Product Type