The packaging manufacturers across the globe are highly concentrating on improvising the distribution process, via economies of scales. These economies of the scales are primarily monitored across the wine packaging manufacturers, to optimize the assets available to the manufacturers. Globally, the wine packaging manufacturers are immensely concentrating on providing eco-logical solutions such as sustainable packaging and environment-friendly packaging. Moreover, the growing need to increase the packaging safety concerns among the consumers is propelling the demand for ancillary wine packaging such as carton partitions, trays, racks, boxes and barrels among others. These factors are highly fueling the demand across the wine packaging manufacturers operating in the prominent wine producing countries across the globe.
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. However, the growing stringent government regulations and environmental concerns related to some of the packaging raw materials might act as restraints to the market growth. In contrast to these factors, companies along the packaging and wine producers are highly focusing on new material innovation to comply with the modern ecological standards.
Global wine packaging market is segmented based on container, bulk packaging type, closure, accessories and region. Based on containers the market is segmented into glass bottles, plastic bottles, bag in box container and others. Among these, the glass bottles, is projected to dominate the wine packaging market through 2023. Extensive use of glass bottles for wine packaging owing to benefits such as, glass in non-reactive to wine and is an ideal material for longer duration shortage. Based on the bulk packaging type the market is segmented into IBCs, flexitanks, drums others. Flexitanks dominated the market in 2016 and is projected to be the fastest-growing bulk packaging type segment for wine packaging. Flexitanks are the perfect medium for high distance transport and high volume storage. Based on the closure, the market is segmented into natural corks, aluminum screw caps, synthetic corks, and others. Natural cork demand from high-end wine producers and stronger cultural preference for natural cork over other closure system is expected to boost natural cork closure segment in the global wine packaging market. Based on the accessories, the market is segmented into boxes & carriers, labels, and others. Considering the value of packaging, boxes & carriers segment holds a maximum share in the global wine packaging market and will grow at an exponential rate in the coming years. Boxes & carriers segment finds maximum use in the final packing of the wine container. The growing consumer preference for elegant exterior packaging is creating a lucrative market for boxes & carriers in the global wine packaging market.
Wine packaging manufacturers are highly converging towards reducing the cost and diminishing the weight as well, through making numerous exertions at producing multiple designs and will implement new technologies to please various consumer preferences. These progressions are creating openings for innovative wine packaging industry. Wine packaging manufacturers have been recognized to utilize various packaging materials, to cater to a broad spectrum of audience while not compromising on the eminence of the wine stored inside the package. All these factors are expected to pave the path for modernization in the manufacturing process and product differentiation, which in turn is likely to drive the wine packaging market over the forecast period.
Global wine packaging market is expected to grow at ~5.5% CAGR during the forecast period.
Global Wine Packaging Market
The global wine packaging market is segmented into prominent regions such as, North America, Europe, Asia Pacific and Rest of the World. The global consumption of wine packaging raw material, so as manufacture of wine containers is highly intended across North America and Europe. The growing wine consumption across North America and Europe economies is propelling the subsequent wine packaging market. Whereas, the growth in wine consumption across major Asia Pacific countries with changing lifestyle and alcohol consumption patterns, acts as a key driver for an increase in wine packaging in this region.
The key players of global Wine Packaging market are Amcor Limited (Australia), Ardagh Group SA (Ireland), Avery Dennison Corporation (U.S.), Ball Corporation (U.S.), CCL Industries Incorporated (Canada), Encore Glass Incorporated (U.S.), Exal Group (U.S.), and G3 Enterprises Incorporated (U.S.). Hoover Container Solutions Incorporated (U.S.), Enoplastic SPA (Italy), Maverik Enterprises Incorporated (U.S.), Multi-Color Incorporation (U.S.), Owens-Illinois Group Incorporated (U.S.), Smurfit Kappa Group (Ireland), and Gerresheimer Moulded Glass GmbH (Germany) are among others.
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