London, 24 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global wine packaging market 2015-2019, which is expected to witness growth in terms of volume with a CAGR of 2.53% during the forecast period of 2014-2019.
Some of the major drivers in the market are an increase in wine consumption among the youth, increased focus on health, a rise in the number of local wineries, and an increase in the number of new launches in the market.
“R&D on developing new lightweight glass packaging for the purpose of enhancing end-customer usability and reducing wastage is gaining momentum,” says Faisal Ghaus, Vice President of Technavio.
“This new kind of packaging is both recyclable and cost-effective. Glass usually is heavy, and it becomes cumbersome to transport it from place to place, which also scales up the cost of bottling and production.”
Key Market Drivers
- Increased Demand from China
- Increased Demand for Single-serve Packages
- Rise in Disposable Income
- Expansion of Market
- Improved Marketing Activities
Key Market Trends
- Emergence of New Lightweight Glass Packaging
- Growth in the Online Retail Sector
- Advancement in Technology
- Increased Demand from APAC
- Demand for Esthetic Appeal
Key Market Vendors
- Amcor Ltd.
- Ardagh Group
- Gerresheimer AG
- Owens-Illinois Inc.
- Rexam plc
- Smurfit Kappa Group
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
