Wine Packaging Market Overview | Forecast Segmented by Analysis, CAGR, Regions, Manufactures
Market Overview
Packaging plays a significant role in
the beverage industry, and the wine industry is not an exception. The wine
packaging industry is going through a phase of transformation amidst a
significant increase in wine drinkers and the growing popularity of canned
wines in recent years. The wine packaging market is envisioned to expand at a
CAGR of 5.5% over the forecast period 2017-2023, proclaims Market Research
Future (MRFR), in its latest research report.
The Wine Packaging Market Overview is
growing parallelly with the wine industry, which is showcasing remarkable
growth on account of growing wine consumption, especially among millennial
demographic. Expanding spending capabilities in emerging economies have also
boosted the sale of wine, which is resonating strong growth in the wine
packaging market.
Wine packaging manufacturers are
laying greater emphasis on sustainability and eco-friendly packaging solutions,
which is evoked by safety concerns among consumers. This has led to spiraling
demand for ancillary wine packagings such as carton partitions, trays, racks,
boxes, and barrels. These packaging solutions have gained prominence in recent
years as they are being widely used by smaller wineries. Plastic bottles,
aseptic cartons, aluminum cans, and cups and goblets have also become popular
as enable easy transportation.
Segmentation
The Global Wine
Packaging overview has been segmented based on container, bulk packaging type,
closure, and accessories.
By Winery Container, the wine packaging market has been segmented into
glass bottles, plastic bottles, bag in box container, and others. The glass
segment accounts for the largest share of the market. Glass is extensively used
as a container as it is non-reactive to wine, impermeable, and can store wine
for a long duration. However, improvement in the quality of PET bottles has led
to growing usage of PET bottles with plastic caps. Moreover, growing shortage
of natural corks has boosted the demand for plastic wine packaging. Various
airlines across the globe have started serving wine in plastic packaging, which
is anticipated to drive the plastic bottles segment.
By bulk packaging
type, the wine packaging market has been segmented into IBCs, flexitanks, drums
others. The flexitanks segment dominated the market in 2016 and is anticipated
to register the highest CAGR over the forecast period. Flexitanks are ideally
suited for long-distance transportation and high-volume storage.
By closure, the wine
packaging market has been segmented into natural corks, aluminum screw caps,
synthetic corks, and others. Natural cork is highly demanded by high-end wine
producers. The demand for natural cork is sustained by the steady use of glass
for wine packaging, and the segment is anticipated to lead the market over the
forecast period.
By accessories, the
wine packaging market has been segmented into boxes & carriers, labels, and
others. The boxes & carriers segment holds the maximum share of the market
and is likely to expand at an exponential rate. Boxes & carriers are mostly
used in the final packaging of wine. Exterior elegant packaging help to attract
consumers due to which boxes & carriers segment is experiencing heightened
demand.
Competitive Landscape
Amcor Limited (Australia),
Owens-Illinois Group Incorporated (U.S.), Maverik Enterprises Incorporated
(U.S.), Avery Dennison Corporation (U.S.), Gerresheimer Moulded Glass GmbH
(Germany), Hoover Container Solutions Incorporated (U.S.), Enoplastic SPA
(Italy), Ball Corporation (U.S.), G3 Enterprises Incorporated (U.S.), Encore
Glass Incorporated (U.S.), Ardagh Group SA (Ireland), CCL Industries Incorporated
(Canada), Smurfit Kappa Group (Ireland), Exal Group (U.S.), and Multi-Color
Incorporation (U.S.) are the notable players in the wine packaging
market.
Regional Analysis
By region, the wine packaging market
has been segmented into North America, Rest-of-the-World (RoW), Europe, and
Asia Pacific (APAC).
The consumption of wine is
concentrated mostly in Europe and North America due to which these markets are
consolidated. Growth in the domestic wine industry and the tradition of
consumption of wine in the region has induced demand for wine and wine
packaging.
The APAC wine packaging market is
anticipated to showcase exponential growth over the forecast period. Rising
disposable income and growing consumption of wine among millennials in the
region has created favorable demand for wine market, which, in turn, would
provide a boost to the wine packaging market.
Industry Updates
April 2019 - Cupcake
Vineyards, a California-based vineyard company, launched wine cans for their
two most popular wine varieties - Rose and Sauvignon Blanc at the Coachella
Festival.
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