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.
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The wine packaging industry 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 Market has been segmented based on container, bulk packaging type, closure, and accessories.
By 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.
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
Region-wise, the global market of wine packaging has been segmented into prominent regions such as North America, Europe, Asia Pacific, and the Rest of the World.
The global consumption of wine packaging raw materials and the manufacturing of wine containers are highly intended in North America and Europe. Increasing wine consumption in North America and Europe is driving the subsequent wine packaging market. Simultaneously, the rise in wine consumption in major Asia Pacific countries with evolving lifestyles and alcohol consumption patterns is a significant driver for increasing wine packaging in the region.
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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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