Global wine packaging market is expected to grow at ~5.5% CAGR during the forecast period.
Ardagh Group, Global Package LLC, Ball Corporation, Owens-Illinois, Inc., Verallia France, Amcor Ltd., Haldyn Glass Ltd., Smurfit Kappa Group, Gerresheimer Moulded Glass GmbH, and Owens-Illinois, Inc., are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Market of Wine Packaging.
Wine Packaging Global Market – Overview
The Global Wine Packaging Market is growing with the rapid pace; mainly due to the burgeoning food & beverages Industry. According to a recent study report published by the Market Research Future, The global Wine Packaging Market is booming and expected to gain prominence over the forecast period. The Market is forecasted to demonstrate a huge growth by 2023, surpassing its previous growth records in terms of value with a staggering CAGR during the anticipated period (2016 – 2023).
Changing lifestyles, increasing purchasing power which leads to change in preferences these are some of the factors propelling the market growth. Additionally, Innovative wine packaging formats driven by Millennial are providing impetus to the market growth of Wine Packaging. Furthermore the increased demand for locally produced wines has gone up due to the change in such preferences which prompts the market for packaging. There is also a change in the traditional form of packaging of wines which has resulted in investment in the packaging industries to bring about better and attractive packaging solutions.
Single-serve packaging is seeing strong growth. Wine containers are rapidly expanding in terms of package formats and sizes. The fastest growth for containers will fall outside the typical 750-ml size, including both smaller- and larger-sized offerings. Single-serving wine packaging will see strong prospects attributed to the advantage of enabling wine to be taken to or sold in places that typically don’t allow glass containers. Also, single-serving containers enable wine to compete with beer in the places where glass bottles are prohibited for instance; at concerts or festivals. Besides plastic bottles other packaging solutions are also becoming ever more popular Single-serving containers for wine include plastic bottles, aseptic cartons, cans, and cups and goblets, with cups and goblets are predicted to post the fastest gains, although from a small base.
PET bottles are said to have taking over from the glass packaging. For a long time fine wines were only considered as such when bottled in glass containers with natural cork. PET bottles with plastic caps are trending in the market. Rising environmental demands and the forecast shortage of natural cork have made the sale of wine in plastic bottles rise even further. However, challenges to plastic bottles cite higher UV radiation and oxygen migration, which affects taste and, hence, the quality of this alcoholic beverage and reduces its shelf life. Adversely, modern processes could be applied to improve internal gas-proofing thereby ensuring no impact on taste. Similarly, an inner coating of silicon oxide improves the bottle’s oxygen barrier properties.
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Global Wine Packaging Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global Market of Wine Packaging appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, Product/Technology launch, reputation and services. Key Players operating in the market strive to develop the unrivalled design and features, and that can reflect the exclusivity and luxury nature of the wine through the use of techniques such as foiling, heavy debussing, etc. Marketers employ a continuous improvement strategy to analyze and update products, implementing improvements and launching new technologies to meet the changing needs of consumer. These Key Players are investing heavily in research and development projects and to develop state-of-the-art equipment, facilities, advanced technology and processes.
Global Wine Packaging Market – Synopsis & Scenario
The Global wine packaging market has seen the growth over a period of time. The growth is attributed to the changing lifestyles, increasing purchasing power which leads to change in preferences. The increased demand for locally produced wines has gone up which drives the market for Wine packaging. The global wine packaging market is expected to reach over millions of USD and at a substantial rate of CAGR at the end of the forecasted period
Although, glass bottles are still used to package most wine in most countries, metal screw caps and synthetic stoppers have established an appreciable market presence. In a broad sense, there is a correlation between the cost of wine and the value of the materials used to package it, but there are no absolutes and the factors like environmental consideration and “tradition equity” can vary from one country to another.
Global Wine Packaging Market – Segments of Report
For an easy grasp, Global Wine Packaging Market is segmented in to five dynamics.
- Segmentation by Container : Includes Glass bottles, plastic bottles, bag in box container and others.
- Segmentation by Bulk Packaging type: Includes IBCs, Flexitanks, Drums others.
- Segmentation by Closure : Includes Natural corks, aluminum screw caps, synthetic corks, and others
- Segmentation by Accessories : Includes Boxes & carriers, labels, and others.
- Segmentation by Region : includes Geographical Regions.
Wine Packaging Market – Regional Analysis
Europe holds the largest market share of wine packaging market and is expected to grow rapidly amounting to a substantial growth followed by North America which is also expected to grow at a considerable rate of CAGR by end of the forecast period 2016 – 2023. While in the U.S., wine is becoming a common staple during meals at home rather than a beverage ordered out at restaurants or special events.
However, APAC dominates the global wine packaging market with its fastest growing market worldwide. It will expand at a comprehensive rate of CAGR over the forecast period. The region is expected to show an increase in the popularity of wine and changing preferences from beer and other beverages to wine among the younger customers. The increase in production of local wines is also adding to the growth.
Detail Analysis of “Wine Packaging Market Research Report – Global Forecast to 2023” @ https://www.marketresearchfuture.com/reports/wine-packaging-market-1327
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