According to Future Market Insights research, during the projected period, the global wine bags market is set to enjoy a market valuation of US$ 118.4 Mn in 2021, and register a CAGR of 4.5%to reach US$ 192.1 Mn by 2032. The wine bags market revenues are estimated to propel with the top 3 countries projected to hold 30-35% of the global wine bags market by the end of 2022.
Based on the material segment, paper material is projected to offer a growth opportunity for the global wine bags market due to its benefits such as being a sustainable, recyclable, and cost-effective.
Market Size 2022
US$ 123.7 Mn
Market Size 2032
US$ 192.1 Mn
Value CAGR (2022-2032)
4.5%
Top 3 Countries Collective Market Share
30-35 %
The global wine bags market has reached 118.4 Mn for the year 2021, according to FMI analysis. The demand for wine bags is estimated to bolster with the top 5 companies estimated to hold approximately 20-25% of the global wine bags market by 2022.
The wine bags market is projected to witness a rising growth outlook during the forecast period. A new forecast by FMI anticipates that wine bags market revenue will rise during 2022-2032 and is anticipated to offer a growth opportunity of US$ 73.4 Mn.
The wine bags market is anticipated to grow rapidly due to the rising population, changes in lifestyle, and rapid urbanization. Changing lifestyles made an increment in consumption of wine, and increasing the consumption of wine made lucrative demand for wine bags. The wine bags market is projected to expand 1.6 times the current value during 2022-2032.
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Historic Market Outlook for Wine Bags Market
The global wine bags market expanded at a CAGR of 3.9% during the historic period and reached US$ 118.4 Mn in 2021.
The wine bag market is seen as emergent due to the increasing consumption of wine, people are now spending on wine bags. Also, the trend towards the premium lifestyle and gifting wine is a tradition, wine bags add more aesthetic value and luxury touch to the wine bottles. Wine bags are tailored to the shape and size of the bottle and most importantly from the point of safety, as majorly wine bottles are made up of glass which is fragile in nature for the safety of the bottle there are bags which are having an extra shield to the bottle.
The customization of wine bags gains traction among the end-user. The printability feature of wine bags helps as a marketing and branding tool for the brands. The eye-catching design of wine bags gains popularity among the brands as well as end-users. The increased consumption and demand for a proper durable packaging solution for wine boxes or wine bottles supplement the sales of wine bags.
What Augment the Demand for Wine Bags Market across the Globe?
The manufacturers of wine are now preferring cost-effective wine bags. The packaging cost saved by the usage of wine bags results in increased profits for the manufacturers of wine across the globe. The market popularity of alcoholic beverages has increased and it resulted in higher demands for wine and other alcoholic beverages, not only in the domestic market but also in the international markets.
International brands are most preferred by consumers in all countries, increasing the demand for the export and import of wines in major wine-consuming countries of the world. Overall, the growing demand for wine is a significant factor responsible for driving the wine bags market growth.
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Category-wise Insights
How does Fabric Bags Generate a Positive Growth Outlook for Wine Bags Market?
The fabric bags segment by the material is projected to grow 1.7 times the current market value during the forecast period. The packaging industry is now ready for change and eagerly finding an alternative to plastic, to forward towards sustainability, minimizing the use of plastic in packaging and switching to reusable bags is augmented to boost up in the market, changing preference globally recently. Also, the fabric bags offer a premium look to the product which adds benefit to the market.
Which Capacity Segment offers a Lucrative Growth Opportunity in the Global Wine Bags Market?
Based on capacity, multi bottle wine bags segment offers a lucrative growth opportunity in the global wine bags market as it helps in carrying multi wine bottles at a time adding cost-effective benefits. The multi bottle wine bags segment is projected to hold around 72% of the market value share by the end of 2032.
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 Competitive Landscape
The competitors operating in the wine bags market are trying to increase their sales and revenues by expanding their business to meet the market demand. The key players are trying to adopt a merger & acquisition strategy to expand their resources and develop new products to meet customer needs. Also, the players are focusing on advancing their facilities to cater to the demand.
Wine Bags Market - Scope Of Report
Attribute
Details
Growth Rate
CAGR of 4.5% from 2022 to 2032
Base Year for Estimation
2021
Historical Data
2015-2020
Forecast Period
2022-2032
Quantitative Units
Revenue in USD Billion, Volume in Sq. Meter and CAGR from 2022-2032
Report Coverage
Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
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
Frequently Asked Questions
In 2021, what was the worth of the global wine bags market?
The global wine bags market was valued at US$ 118.4 Mn in 2021.
During 2015-2021, what was the growth rate of the global wine bags market?
During 2015-2021, the global wine bags market expanded at a CAGR of 3.9%.
What will be the value of the global wine bags market by 2022?
The global wine bags market is projected to reach US$ 123.7 Mn by the end of 2022.
Which product type segment is projected to remain the major segments for the wine bags market?
In product type, reusable wine bags segment is projected to remain the major segment for the wine bags market during the forecast period.
What are the growth factors for the wine bags market?
The increasing wine consumption along with increased demand for premium packaging solution for wine are growth factors for the wine bags market.
Who are the major players in the global wine bags market?
The major players operating in the global wine bags are Wine Box Company Limited, Factory Direct Promos, Built NY, Ampac Holdings, LLC, and Acorn Paper Products Company.
At what rate is the global wine bags market projected to grow?
The global wine bags market is anticipated to register a CAGR of 4.5% during 2022-2032.
