The wine packaging market is expected to grow at a CAGR of 5.5%. The wine packaging market the value was USD 3033.74 million during the historical forecast period. It is expected to reach USD 3810.48 million during the forecast period. Wine packaging is changing. Younger people choose this because they enjoy drinking wine at music festivals, social gatherings, and sporting events. These consumers are opting for wine packaged in cans, pouches and compact bags rather than the typical wine bottle.
Throughout history, only a few viruses have been lethal and destructive enough to alter the nature and fate of the world. One of these viruses is COVID-19. The unique nature of COVID-19 has alarmed governments and public health professionals. The majority of people infected with COVID-19 have fully recovered. The problem was that some patients, especially those who were asymptomatic, could develop it again after recovery. Some people who have recovered from COVID-19 have long-term health issues. These are the reasons why lockdowns and quarantines were established around the world last year. However, not all companies suffered the same fate. Others have struggled, while others have thrived. The wine packaging sector was classified in the second category.
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The major key players in the market are Amcor Limited, Ardagh Group SA, Avery Dennison Corporation, Ball Corporation, CCL Industries Incorporated, Encore Glass Incorporated, Excel Group, and G3 Enterprises Incorporated. Hoover Container Solutions Incorporated, Enoplastic SPA, Maverik Enterprises Incorporated, Multi-Color Incorporation, Owens-Illinois Group Incorporated, Smurfit Kappa Group and Gerresheimer Molded Glass GmbH.
Based on the container, the wine packaging market includes glass bottles, plastic bottles, bags in a container, and others.
Based on the type of bulk packaging, the wine packaging market includes IBCs, Flexitanks, kegs and others.
On the basis of closure, the wine packaging market includes natural corks, aluminum screw caps, synthetic corks and others.
Based on accessories, the wine packaging market are boxes and carriers, labels and others.
Based on region, the wine packaging market includes North America, European Union, Asia Pacific and Rest of the World.
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The North American region and the European Union hold the largest market share for wine packaging. Organic wines are currently very popular in North America because they are both environmentally beneficial and safe to drink. In this place, national and international wines are widely appreciated. As the wine market matures, the steady growth linked to the conquest of new markets is beginning to slow down. On the contrary, wine producers are experiencing the strongest growth in the wine packaging industry by focusing on customers who drink at least one glass of wine several times a week. In North America, millennials prefer wine to the conventional alcoholic beverage, beer. They also start to become more successful. As a result, they have more money to spend on new and exotic types of wine, which are also more expensive. Indeed, wine packaging producers are being forced to invest heavily in research and development to develop newer and more inventive wine packaging due to the changing tastes and preferences of the millennial population in terms of of wine packaging. In the Asia-Pacific region, wine consumption is on the rise, particularly in India and China. The fact that there is a growing middle class with increasingly westernized preferences and lifestyles, as well as increased incomes, is the fundamental reason for this.
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