The valve-on-valve laminates market is expected to grow at a steady rate, assisted by continuously increasing demand from the personal care and healthcare sectors. According to a study by Future Market Insights (FMI), the market size is expected to reach $217.3 million by 2021.
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The expansion of the personal care industry and the growing number of consumers using products such as deodorants, antiperspirants, hair sprays, etc. will drive demand for bag-on-valve laminates for effective packaging solutions. .
Personal care products are usually packaged in traditional aerosol packaging, but innovations have made valve-on-pack packaging the preferred solution. Bag-on-valve packaging systems consist of aluminum or tin containers, valves, laminate bags, actuator nozzles and pressurized propellants such as nitrogen gas or compressed air.
The use of an inert gas such as nitrogen or compressed air as the propellant makes the product significantly safer compared to conventional aerosol packaging that uses flammable hydrocarbons as the propellant.
Bag-on-Valve laminates have emerged as a safer alternative for the packaging of a variety of personal care products and are gaining popularity among consumers of products reluctant to combustible propellants.
Several major players are using this technology to meet the changing demands of consumers. According to FMI, the personal care industry is expected to account for nearly 33% of market revenue in 2021. In addition to this, demand in the healthcare sector is also expected to increase.
“In addition to adopting strategies to achieve our expansion goals, market players are focusing on providing greater recycling potential. “The steps taken to adopt sustainable packaging solutions will help the overall expansion of the market in the future,” said an analyst at FMI .
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Key highlights of the Bag-on-Valve Laminate market
- Growing demand for alternative and sustainable packaging solutions will drive the valve-on-valve laminates market at a CAGR of 5.5% between 2021-2031
- The US could account for more than 88% of North America’s revenue by 2021, driven by growing demand for advanced packaging solutions in the US personal care and healthcare industries.
- Government regulations to curb the carbon footprint in various industries will spur growth in the UK at a CAGR of 1.9% over the forecast period.
- France, Italy and Benelux will see high demand for valve-on-valve laminates in the European market.
- The expansion of the manufacturing sector will create growth opportunities for the market in China.
The demand for safe packaging of sterile products to shape the valve-on-valve laminates market.
Manufacturers in the pharmaceutical industry that provide products such as nasal sprays and wound cleansers prefer valve-on-valve laminate packaging because it is an easy-to-sterilize and relatively hygienic form of packaging.
The nasal spray market is expected to grow significantly with the increasing number of effective drug delivery systems for asthma, respiratory ailments, common coughs and colds.
According to the World Health Organization (WHO), 7 out of 93 vaccines currently in progress are administered intranasally. The demand for these nasal spray packaging will potentially increase sales of valve-on-valve laminates due to their ability to keep active ingredients relatively safe.
Impact of COVID-19 on Valve-on-Valve Laminate Market
The ongoing COVID-19 pandemic has affected many industries, including the packaging sector. The valve-on-valve laminate market has been plagued by the pandemic, primarily due to factors such as raw material supply shortages, logistics and lockout restrictions.
Decreasing demand from industries such as personal care and home care also had a negative impact on the overall market. Nevertheless, the increasing application of valve-on-valve laminates in the medical industry for packaging of products such as nasal sprays and sterile cleansers has helped mitigate the effects of the pandemic.
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Bag-on-Valve Laminate Market Landscape
Amcor plc, Aptar Group, and Precision Valve Corporation are the top players operating in the valve-on-valve laminate market. Tunap Group, Lindal Group, Summit Packaging Systems and Gualapack SpA are also some of the prominent players in the bag-on-valve laminate market. Tier 3 players hold 65-70% of the global bag-on-valve laminate market. The major players contribute almost 30-35% of the global market.