The global wine packaging market is showing exponential growth and is expected to grow significantly in the coming years. Wine is highly demanded and consumed by consumers. Improving quality of wine plays an important role in its sales. Wine has become an essential need for life, owing to different health benefits. It is stored and packaged to ensure safe storage and increase its shelf life. Wine packaging helps the wine stay fresh for a longer period. There are different types of materials such as cardboard, glass, and metal. Glass bottles are mostly preferred and are found in different shapes. Glass bottles help to preserve wine for a longer period and increase its demand among consumers. Glass bottles are costly than cardboard boxes. Cardboard box wine packaging is recyclable and biodegradable. Such packaging uses less energy and is good for environment. They are found in different designs and shapes to enhance appearance to attract customers. The wine packaging is segmented on the basis of material, type of packaging, sales channel, and region.
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COVID-19 Scenario Analysis:
- COVID-19 has drastically hit the alcohol industry globally.
- The lockdown has shut down all retail outlets and factories that have paused the production.
- There is an increase in demand for products that have a long shelf life.
- All bars, liquor stores, and restaurants are closed, which has decreased sales and caused a downfall in revenue. It has also affected the packaging industry.
- Workforces are migrating that have affected function of factories. Lack of laborers has stopped production.
- Trade restrictions have halted import and export of alcoholic beverages.
- However, in some countries, lockdown was lifted, which has given some relief to companies and increased sales and production.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Rise in consumption of wine and increase in awareness about benefits of wine are the key factors that drive growth of the global wine packaging market. Further, diversity in color, size, shapes, and use of package material that is easily degradable has also increased demand for wine packaging. In addition, increase in disposable income, increase in working population, and improvement in living standards have increased growth of the global wine packaging market.
However, cost of raw materials such as glass bottles hamper growth of the global market. Glass bottles are highly used in wine packaging, which are fragile and can easily be broken, in turn, hampers demand for glass wine packaging. Moreover, increase in use of cardboard boxes in wine packaging has created an opportunity for growth of the global market. New technologies that enhance packaging quality and make it more lightweight has increased growth of wine packaging. Companies are taking initiatives to increase demand for wine packaging by increasing quality and material of packaging. They are launching double-layered bottles that keep wine cold. In addition, use of QR codes on the packaging is the latest trend to connect customers to companies.
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Key Benefits of the Report:
- This study presents the analytical depiction of the global wine packaging industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global wine packaging market share.
- The current market is quantitatively analyzed to highlight the global wine packaging market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global wine packaging market analysis based on competitive intensity and how the competition will take shape in coming years.
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Reasons To Buy This Wine Packaging Market Report:
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