Plastic Gaining Accolades in the Box Wine Containers Market
Packaging plays a significant role in the beverage industry, and the wine industry is not an exception. The wine packaging industry is going through a phase of transformation amidst a significant increase in wine drinkers and the growing popularity of canned wines in recent years. The Box Wine Containers Market is envisioned to expand at a CAGR of 5.5% over the forecast period 2017-2023, proclaims Market Research Future (MRFR), in its latest research report.
The wine packaging industry is growing parallelly with the wine industry, which is showcasing remarkable growth on account of growing wine consumption, especially among millennial demographic. Expanding spending capabilities in emerging economies have also boosted the sale of wine, which is resonating strong growth in the Box Wine Containers Market.
Wine packaging manufacturers are laying greater emphasis on sustainability and eco-friendly packaging solutions, which is evoked by safety concerns among consumers. This has led to spiraling demand for ancillary wine packaging such as carton partitions, trays, racks, boxes, and barrels. These packaging solutions have gained prominence in recent years as they are being widely used by smaller wineries. Plastic bottles, aseptic cartons, aluminum cans, and cups and goblets have also become popular as enable easy transportation.
Segmentation
The global Box Wine Containers Market has been segmented based on container, bulk packaging type, closure, and accessories.
By container, the Box Wine Containers Market has been segmented into glass bottles, plastic bottles, bag in box container, and others. The glass segment accounts for the largest share of the market. Glass is extensively used as a container as it is non-reactive to wine, impermeable, and can store wine for a long duration. However, improvement in the quality of PET bottles has led to growing usage of PET bottles with plastic caps. Moreover, growing shortage of natural corks has boosted the demand for plastic wine packaging. Various airlines across the globe have started serving wine in plastic packaging, which is anticipated to drive the plastic bottles segment.
By bulk packaging type, the Box Wine Containers Market has been segmented into IBCs, flexitanks, drums others. The flexitanks segment dominated the market in 2016 and is anticipated to register the highest CAGR over the forecast period. Flexitanks are ideally suited for long-distance transportation and high-volume storage.
By closure, the Box Wine Containers Market has been segmented into natural corks, aluminum screw caps, synthetic corks, and others. Natural cork is highly demanded by high-end wine producers. The demand for natural cork is sustained by the steady use of glass for wine packaging, and the segment is anticipated to lead the market over the forecast period.
By accessories, the Box Wine Containers Market has been segmented into boxes & carriers, labels, and others. The boxes & carriers segment holds the maximum share of the market and is likely to expand at an exponential rate. Boxes & carriers are mostly used in the final packaging of wine. Exterior elegant packaging help to attract consumers due to which boxes & carriers segment is experiencing heightened demand.
Regional Analysis
By region, the Box Wine Containers Market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The consumption of wine is concentrated mostly in Europe and North America due to which these markets are consolidated. Growth in the domestic wine industry and the tradition of consumption of wine in the region has induced demand for wine and wine packaging.
The APAC Box Wine Containers Market is anticipated to showcase exponential growth over the forecast period. Rising disposable income and growing consumption of wine among millennials in the region has created favorable demand for wine market, which, in turn, would provide a boost to the Box Wine Containers Market.
Competitive Landscape
Amcor Limited (Australia), Owens-Illinois Group Incorporated (U.S.), Maverik Enterprises Incorporated (U.S.), Avery Dennison Corporation (U.S.), Gerresheimer Moulded Glass GmbH (Germany), Hoover Container Solutions Incorporated (U.S.), Enoplastic SPA (Italy), Ball Corporation (U.S.), G3 Enterprises Incorporated (U.S.), Encore Glass Incorporated (U.S.), Ardagh Group SA (Ireland), CCL Industries Incorporated (Canada), Smurfit Kappa Group (Ireland), Exal Group (U.S.), and Multi-Color Incorporation (U.S.) are the notable players in the Box Wine Containers Market.
Industry Updates
April 2019 - Cupcake Vineyards, a California-based vineyard company, launched wine cans for their two most popular wine varieties - Rose and Sauvignon Blanc at the Coachella Festival.
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