The worldwide wine bags market is expected to achieve a market worth of US$ 118.4 Mn in 2021 and show a CAGR of 4.5% to reach US$ 192.1 Mn by 2032, according to research from Future Market Insights. By the end of 2022, the top 3 nations are expected to control 30–35% of the global wine bag market, according to estimates of market revenues.
According to the material segment, paper material is anticipated to present a potential opportunity for the global wine bag market because of its advantages, including being affordable, sustainable, and recyclable.
According to a research by FMI, the market for wine bags worldwide has reached 118.4 Mn for the year 2021. The top 5 businesses are predicted to control between 20 and 25 percent of the global wine bag industry by 2022, indicating that there would be an increase in demand for wine bags.
During the anticipated period, the market for wine bags is anticipated to expand at an increasing rate. According to a recent FMI prediction, the wine bag industry will experience development from 2022 to 2032, with a potential opportunity for growth of US$ 73.4 million.
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Wine Bags Market Overview
Wine bags are packaging items solely utilized for safe covering and carrying of expensive wines and relevant liquors. Glass is the most widely used material as the most sought-after container for wines, therefore, necessitating the usage of light and sturdy wine bags so as to facilitate the customers to carry high-priced bottles from the wine shops in a safe manner.
In the present scenario, wine bags have become more of a luxury item than a protection casing for carrying wines. Wine bottles have been traditionally presented as a gift item within the middle and upper class factions, presenting a bottle of wine with a packing of a wine bag adds a touch of luxury as well as improving its aesthetic value.
Wine bags are no different from other general commodity carrying packages, however, wine bags are especially designed keeping in mind the size and shape of the bottle. Wine bags are usually sold in the market along with the wine bottle or can be bought as a stand-alone product for a more personalized usage by the customers.
Customization of wine bags is also gaining traction in the market leading the vendors to offer custom made wine bags to the customers.
Wine Bags Market: Regional Outlook
The Global Wine Bags market can be segmented into seven geographical locations such as North America, Latin America, Western and Eastern Europe, APEJ, Japan and MEA. The North American and the European region is anticipated to grow strongly in the wine bags market due to increase in disposable income, higher standard of living and luxurious lifestyle. In MEA region, the sale of alcohol is prohibited owing to religious factors which can affect the sale of wine bags.
Wine Bags Market: Key Players
Some of the major players identified in the global wine bags market are:
- Yiwu Youbai Packing Co., Ltd
- Wine Box Company Limited
- Factory Direct Promos
- Built NY
- Ampac Holdings, LLC
- Acorn Paper Products Company
- Richie Bags
- Initi Bag Manufacturer Co.,Ltd
- DM Packaging Company
- NANGFA Manufacturing Co., Ltd.
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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
Wine Bags Market Dynamics
The global market for the demand of wine bags can be directly attributed to the sale of wines. The improvement in wine consumption has witnessed a healthy growth within the middle to upper class people owing to high disposable income and luxurious lifestyle prompting an increase in sales of wine bags, thereby improving its market on a global scale.
Government and environmental policies on minimizing wastage and reduction in the consumption of non-biodegradable raw materials has led to an increased production of eco-friendly reusable bags in the manufacturing unit driving the growth of wine bags in the competitive market.
Increased consumption of wine beverages among the growing youth population has contributed to the growth of wine bags market on a global level.
Alternative packaging systems available for the containment of wine such as bag-in-box, plastic pouches and cardboard based bladder packs has greatly influenced a decrease in production of traditional glass based wine containers. Reduced availability of glass based wine bottles can directly affect the growth of wine bags market as the sales of these bags solely rely on wine bottles.
Propagation of negative health benefits of alcohol based beverages can also hamper the growth of wine bags market.
The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America
- Latin America
- Asia Pacific
- Japan
- Western Europe
- Eastern Europe
- Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
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Wine Bags Market: Segmentation
On the basis of types of materials used,Wine Bags Market can be segmented as:
- Paper
- Textile
- Leather
- Plastic
- Others (Neoprene etc.)
On the basis of renewability, Wine Bags Market can be segmented as:
- Reusable Wine Bags
- Disposable Wine Bags
On the basis of fastening system, Wine Bags Market can be segmented as:
- Open Bag
- Zipper system
- Rope based system (Knot)
- Velcro
- Clasp system
On the basis of number of containments, Wine Bags Market can be segmented as:
- Single bottle Wine Bags
- Multi bottle Wine Bags
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