The global wine packaging boxes market was valued at US$ 1.74 Billion in 2023, according to the wine packaging boxes market report, by product Type (Paper, Wooden, Polypropylene, Kraft Paper, Corrugated, Others), by distribution channel (Online Retail, Offline Retail), and by region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global wine packaging boxes market is expected to surpass US$ 2.86 Billion by 2030, exhibiting a CAGR of 7.4% during the forecast period (2023-2030). The global demand for wine packaging boxes is rising owing to the increasing demand for wines globally. Wines are one of the most popular choices at parties, get-togethers, meetings, etc., but along with this, another factor influencing the positive growth in wine demand is its health benefits for human body. Wines are rich in antioxidants which prevent cellular damage caused by inflammation and oxidative stress. Red wine is rich in polyphenol antioxidants which help in reducing risk of the high cholesterol, high blood pressure, and heart disease. These health benefits offered by wine have made it more popular among other alcoholic drinks among health-conscious individuals. The increase in demand for wine are eventually lead to an increase in demand for wine packaging boxes.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/wine-packaging-boxes-market-5122
Key Trends and Analysis of the Global Wine Packaging Boxes Market:
Among regions, North America dominated the market in 2023 and is expected to continue its dominance by the end of the forecast period. Owing to the increasing consumption of wine in the North American region.
Mergers and acquisitions, strategic collaborations, and business expansions are the key strategies adopted by key players to retain their market share. For Instance, In December 2021, Berlin Packaging, a hybrid packaging company headquartered in Chicago, USA, announced its acquisition of Gerfran SAS, a company specializing in glass packaging for wine bottles based in La Reole, France, to expand their packaging business and operations in the southwest part of France.
Key Takeaways of the Wine Packaging Boxes Market:
Corrugated boxes are gaining traction in the wine packaging boxes market as they are cost-effective, reusable, flexible etc. Manufacturers are focused on producing durable, heat-resistant corrugated wine boxes with the help of craft paper, as preferred by suppliers and exporters. For Instance, In June 2020, Fantastapack, a custom online web-to-print packaging manufacturing company based in Seattle, launched a new corrugated box collection for wine bottles. The newly released collection includes display gift boxes and carriers designed to carry standard wine bottles of 750 ml capacity.
Major players operating in the global wine packaging boxes market include Super Wood Touch, Acorn Paper Products, DS Smith, International Paper, DIGRAF, Smurfit Kappa, MosPackaging, Golden State Box Factory, Riverside paper Co., Cross Country Box Co. Inc,.Sealed Air, Taylor Box, ALPPM, Evergreen, Spirited Shipper.
Global Wine Packaging Boxes Market - Impact of Coronavirus (Covid-19) Pandemic
The consequences of the COVID-19 pandemic have led to the deceleration of wine packaging boxes production, as social distancing measures and lockdown were imposed as a solution to meet the desperate need to put a halt to the increasing number of COVID-19 cases. Many industries took a hit due to lockdown and suffered a lot in business as it disrupted the supply chain system, resulting in a decreased amount of revenue. COVID-19 made a huge impact on the wine industry due to the forced closure of wineries across the world, such as in the U.S., the U.K., and India, which indirectly impacted the demand of wine packaging boxes. However, relaxation in the restrictions amidst a decreasing number of COVID cases and vaccination provides an opportunity to make up for the losses in the forecast period.
