Wine Packaging Market Competition Forecast and Opportunities, Industry Share, Global Size

Market Highlights

The global wine packaging market is expected to register a CAGR of 4.2% during the forecast period and is expected to hit USD 9,893.42 million by 2027.

The wine packaging industry is unswervingly allied to the wine manufacturing industry. The wine market has witnessed phenomenal growth over the recent years and is expected to retain this over the forecast period, owing to several benefits associated with the wine, namely taste and health aids. The health-conscious inhabitants have emerged as one of the largest consumers across the globe, leading to a larger wine production, consistently driving the wine packaging market. Moreover, wine is recognized as the favored drink on numerous occasions, owing to the high availability of its extensive selection catering to assorted audience groups.

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Segment Analysis
The global wine packaging market is mainly segmented into container, bulk packaging type, closure, and accessories. On the basis of container, the wine packaging market has been sub-segmented into glass bottles, plastic bottles, and bag-in-box container. On the basis of bulk packaging type, the wine packaging market has been segmented into IBCs, flexitanks, and drums. On the basis of closure, the wine packaging market has been segmented into natural corks, aluminum screw caps, and synthetic corks. On the basis of accessories, the wine packaging market has been segmented into boxes & carriers and labels.

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Regional Analysis
The global wine packaging market has been segmented on the basis of region into North America, Europe, Asia-Pacific, and Rest of the world. The North American market is further divided into the US and Canada. The European wine packaging market has been segmented into Germany, France, UK, Italy, and Rest of Europe. The wine packaging market in Asia-Pacific has been segmented into China, India, Japan, and the rest of Asia-Pacific. The Rest of the world wine packaging market includes the South America, and Middle East & Africa.
North America is divided into US and Canada. With the growing consumer demand for smaller packaging, the wine packaging market in the United States is witnessing the higher adoption of non-glass bottle-based alternatives including bags in boxes, paper bottles, pouches, cans, among others. With the advent of COVID-19 pandemic, the wine packaging market is expected to witness a considerable growth. Moreover, the wine packaging manufacturers are facing numerous issues that are expected to last for short terms only. These issues include the technical issues with the container manufacturing. The effects of Covid-19 have impacted the growth rate and factors that affected includes the lack of availability of raw materials used in the manufacturing process due to supply chain disruptions, changing prices of raw materials, and shortages of labor that may cause shipping problems, and production of the final product to inflate and go beyond budget, etc.

Asia Pacific consists of countries such as China, Japan, India, and rest of Asia Pacific. Among these, the China is expected to dominate the Asia Pacific wine packaging market during the forecast period. This is due to the higher number of wine packaging manufacturing companies present in China due to low cost of labor and high technological advancements. The 750 mL wine bottle is the most popular size in the China market, and it is considered as the default packaging for many brands. Shanghai has introduced a domestic waste categorization system in 2019 that enable people, businesses, and corporations to follow rules during the wine packaging garbage's organized transportation and disposal.

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Key Findings of the Study
The global wine packaging market is expected to reach USD 9,893.42 million by 2027 at a CAGR of 4.2% during the forecast period.
North America accounted for the largest market share of 31.18% in 2020, with a market value of USD 2,385.9 million.
Based on container, the bag in box container segment is expected to register a CAGR of 4.7% during the forecast period.
Based on bulk packaging, the drums segment dominated the market with a share of 48.7% in 2020.
Based on closure, the synthetic corks segment is anticipated to register a CAGR of 4.9% during the forecast period.
Based on accessories, the boxes & carriers segment accounted for the largest market share of 84.6% in 2020.
Some of the key players operating in the wine packaging market are Amcor Limited, Ardagh Group SA, Avery Dennison Corporation, Ball Corporation, CCL Industries Incorporated, Encore Glass Incorporated, Exal Group, G3 Enterprises Incorporated, Hoover Container Solutions Incorporated, Enoplastic SPA, Maverik Enterprises Incorporated, Multi-Color Incorporation, Owens-Illinois Group Incorporated, Smurfit Kappa Group, and Gerresheimer Moulded Glass GmbH.

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This release was published on openPR.