The wine manufacturing industry is witnessing stellar growth, which has led to high demand for innovative packaging technologies. According to the findings offered by Market Research Future (MRFR), the wine packaging market has been forecasted to strike 5.5% CAGR over the review period 2017 to 2023. Increasing consumption of alcoholic drinks is anticipated to drive market growth in the foreseeable future.
The wine packaging market is anticipated to flourish over the next couple of years, owing to the introduction of packaging innovations. In addition, the increasing demand for bio-based packaging solutions is anticipated to favor the proliferation of the market in the nearby future.
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Competitive Dashboard:
Amcor Limited (Australia), Avery Dennison Corporation (U.S.), Ardagh Group SA (Ireland), Ball Corporation (U.S.), Encore Glass Incorporated (U.S.), CCL Industries Incorporated (Canada), Exal Group (U.S.), G3 Enterprises Incorporated (U.S.), Smurfit Kappa Group (Ireland), Enoplastic SPA (Italy), Hoover Container Solutions Incorporated (U.S.), Maverik Enterprises Incorporated (U.S.), Owens Illinois Group Incorporated (U.S.), Multi-Color Incorporation (U.S.), and Gerresheimer Moulded Glass GmbH (Germany) are some of the key players of the wine packaging market.
Industry News:
In October 2019, Sotheby’s, a British-founded American multinational corporation, has announced the launch of its own wine range that consists of eight wines from France, Italy, and California.
In October 2019, SPAR, a Dutch multinational franchise, has announced the launch of its latest animal-free range of vegan-friendly wine.
In November 2019, a French space startup, Space Cargo Unlimited, launched a dozen bottles of wine in the International Space Station on a rocket developed by Northrop Grumman. These are the first glass bottles to be sent to space.
In November 2019, Delicato Family Wines, which is the producer of Bota Box, announced the launch of three new variants of wines under the premium bag-in-box Nighthawk range.
Market Segmentation:
On the basis of containers, the wine packaging market has been segmented into bag in box container, plastic bottles, glass bottles, and others. Among these, the glass bottles segment is anticipated to dominate the global market in the coming years. Glass in non-reactive with wine, which is anticipated to drive the growth of the segment during the assessment period.
On the basis of bulk packaging, the wine packaging market has been segmented into IBCs, drums, flexitanks, and others. The flexitanks segment is poised to account for the largest share of the market through the forecast period.
On the basis of closure, the wine packaging market has been segmented into aluminum screw caps, natural corks, synthetic corks, and others. Among these, the natural corks segment is projected to witness higher demand due to strong cultural preferences.
On the basis of accessories, the wine packaging market has been segmented into labels, boxes & carriers, and others. The boxes & carriers segment is prognosticated to dictate the expansion of the market owing to its extensive use in the final packaging.
Regional Analysis:
The global wine packaging market, on the basis of region, has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regions are then sub-segmented on the basis of countries for a detailed insight. North America is a pioneer in innovations of packaging technologies. The market is presumed to exhibit a moderate rate of growth over the next couple of years.
Europe wine packaging market is also poised to witness immense growth potential owing to the rising consumption of wine. In addition, the market is presumed to capitalize on the entry of new wine manufacturers. The development in packaging technology is also projected to lead the proliferation of the regional wine packaging market in the upcoming years.
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