South Korea Wine Packaging Market to Reach USD 63.3 Million by 2028, Driven by Increasing Wine Sales and Consumption
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter's Five Forces Models.
South Korea Wine Packaging Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): More than USD 46.3 Million
• Forecast CAGR (2023-2028): 5.5%
• Forecast Market Size (2028): Nearly USD 63.3 Million
A range of materials, including glass, various plastics, metal, and even plastic-coated paper, is used to package and sell wine. The idea that only costly wine should be preserved in glass bottles with a natural cork has gradually faded over time. Wine packaging has changed significantly throughout time, going from clay amphorae to single-serving plastic bottles.
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The demand for wine is being propelled by the health benefits of wines, which, in turn, is supporting the development of the market. Further, the changing lifestyles and high consumer disposable incomes are favouring the South Korea wine packaging market growth.
Additionally, the antioxidants polyphenols, which are abundant in grapes, can reduce oxidative stress and inflammation. Higher antioxidant levels are associated with a decreased risk of diseases. For instance, red wine drinking has been associated with a reduced risk of Alzheimer's and Parkinson's disease, both of which are linked to oxidative stress.
Wine and other alcoholic beverages also show anti-inflammatory properties. Red wine's strong polyphenol antioxidant content helps lower the risk of developing metabolic diseases, high blood pressure, and high cholesterol, driving its consumption in moderate amounts.
The South Korea wine packaging market is likely to benefit from the growing focus of wineries on automating their operations to enhance efficiency, promote worker safety, and for upgrading end-of-line packaging.
South Korea Wine Packaging Industry Definition and Major Segments
Wine packaging, which is essential to the wine industry, enables manufacturers to create brand identity while providing a unique and convenient experience to the customers, besides product preservation. The outside of the box/bottle has the company's logo, brand colours, content information, and message. This promotes brand loyalty and makes the brand stand out in stores. Plastic, glass, metal, and paper board are some of the most commonly used materials used for packaging and keeping wine safe.
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Based on material type, the wine packaging market divisions include:
• Paper Board
On the basis of product, the market is segmented into:
• Bag in Box
The market divisions, based on sales channel, include:
• Online Retail
• Offline Retail
South Korea Wine Packaging Market Trends
The South Korea wine packaging market is expected to significantly develop during the forecast period due to the growing focus on innovation by manufacturers including the addition of QR codes and double insulation.
Convenience is one of the hottest trends right now. Manufacturers are continuously developing packaging techniques to change the way consumers think in order to stop utilising techniques like employing thick glass bottles to represent quality. Convenient packaging is currently in high demand, particularly among generation Z and millennials who go to concerts, sporting events, and festivals, supporting the growth of innovative packaging formats like flat wine bottles that are compact, shippable, and unique; metals cans; and tetra packs.
The substantial growth in the demand for natural wine owing to the rising awareness among people about diverse products available in the market is positively influencing the South Korea wine packaging market trends.
People who are becoming more environmentally concerned, especially younger generations, are now being drawn to natural wine since it is produced naturally without the use of artificial fertilisers. The appeal of these natural wines also includes distinctive labels and packaging that are also ideal for promoting the brand on social media platforms, which lend a positive impression of natural wine. Many brands now promote their products via social media influencers. With this, the demand for different types of eco-friendly packaging and recyclable bottle designs is likely to grow further.
Key Market Players
The major players in the South Korea wine packaging market report include
• Amcor Group GmbH
• International Paper Company
• Tetra Pak Group
• SIG Group AG
• Avery Dennison Corporation
• Dongwon Systems
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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