The global wine bags market is expected to experience significant growth in the coming years, according to Future Market Insights (FMI) research. With a projected market valuation of US$118.4 million in 2021, the market is forecasted to achieve a compound annual growth rate (CAGR) of 4.5% and reach US$192.1 million by 2032. The demand for wine bags is estimated to be driven by the top three countries, which are projected to hold 30-35% of the global market by the end of 2022.
One of the key growth opportunities in the wine bags market lies in the use of paper materials. Paper offers several benefits such as sustainability, recyclability, and cost-effectiveness, making it an attractive choice for packaging wine. As a result, the demand for wine bags made from paper is expected to increase.
The FMI analysis reveals that the top five companies are likely to hold approximately 20-25% of the global wine bags market by 2022, indicating a relatively fragmented market with numerous players.
Several factors contribute to the growth of the wine bags market, including the rising global population, changes in lifestyle, and rapid urbanization. These factors have led to an increase in wine consumption, driving the demand for wine bags. The market is projected to expand 1.6 times its current value during the forecast period of 2022-2032.
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Key Takeaways:
- The global wine bags market is expected to reach US$192.1 million by 2032, with a CAGR of 4.5% during the forecast period.
- Paper material offers growth opportunities due to its sustainability, recyclability, and cost-effectiveness.
- The top three countries are projected to hold a significant share of the global wine bags market by the end of 2022.
- The customization and printability features of wine bags contribute to their popularity among both brands and end-users.
- The increasing consumption of wine, population growth, and changing lifestyles are driving the demand for wine bags.
Key Players :
- Wine Box Company Limited
- Factory Direct Promos
- Built NY
- Ampac Holdings, LLC
- Acorn Paper Products Company
- Richie Bags
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Country-wise Insights: Positive Outlook for Wine Bags Market
- United States (US): The US market creates a positive outlook for the wine bags market due to several factors. Firstly, the alcohol industry in the US has been experiencing rapid growth, fueled by urbanization, a Western-influenced culture, and increasing disposable income. The consumption of wine per resident in the US is significant, with around 3.18 gallons consumed on average, as reported by the Wine Institute. With wine consumption growing steadily, there is a favorable market environment for wine bags in the US, creating growth opportunities.
- China: China generates a high demand for wine bags in the market due to the expanding beverage industry. Wine bags are lightweight and eco-friendly packaging options, making them popular in the beverage industry and among consumers in China. According to the World Health Organization (WHO), China had a per capita alcohol consumption of approximately 6.04 liters in 2019. The increasing consumption of alcoholic beverages in China further drives the demand for wine bags in the country
Country-wise insights
How does the US market create Positive Outlook for Wine Bags Market?
The alcohol industry in the US is increasing rapidly over a while due increase in urbanization, highly western influence culture, increasing in disposal income.
According to the Wine institute, the wine consumption per resident in the US is around 3.18 gallons. Wine consumption in the Us is growing significantly. These will create positive growth opportunities for the Wine bags market in the US.
How does China Generate High Demand for Wine Bags Market?
The beverage industry in China is growing which is estimated to augment the sales of the wine bags market. The wine bags are light in weight and are eco-friendly packaging options it gains popularity among the beverage industry as well as among consumers.
According to the World Health Organization (WHO), the per capita alcohol consumption was around 6.04 litres in China in 2019. The increasing consumption of alcoholic beverages in China is anticipated to propel the demand for wine bags in China.
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Wine Bags Market by Category
By Material, Wine Bags Market is Segmented as:
- Plastic Bags
- Paper Bags
- Fabric Bags
By Product Type, Wine Bags Market is Segmented as:
- Reusable Wine Bags
- Disposable Wine Bags
By Capacity, Wine Bags Market is Segmented as:
- Single Bottle Wine Bags
- Multi Bottle Wine Bags
By Region, Wine Bags Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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