Global Wine Bottle Closures Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Wine Type (Normal, Sparkling), By Closure Type (Cork, Screw Caps, Others), And By Geography - Forecasts From 2022 To 2027
- Published : Jul 2022
- Report Code : KSI061613600
- Pages : 117
The wine bottle closure market is estimated to grow at a CAGR of 5.76% to reach a market size of US$4.797 billion in 2027 from US$3.242 billion in 2020.
Increasing consumption of wine among the female population due to its health benefits and its popularity
The consumption and popularity of wine are rising among the population, particularly more among women as compared to men, as wine can help them able to relax and relieve them from anxiety and stress as they are involved in rigorous household work and chores.
In addition, several health benefits are attached to the consumption of wine that is making it so popular, which include, improved gut health, a lesser risk of cancer and dementia, fewer chances of vision loss, controlled blood pressure, and promoting good heart health, among others.
Major Market Players' Product Offerings, Acquisitions, and Launches in the Wine Bottle Closures Market
The offering and launch of better and more advanced varieties of wine bottle closures with enhanced features such as excellent material quality and label durability, among other properties, by existing and new players in different markets is estimated to lead to increased adoption and propel the market growth further over the forecast period.
Some of the examples of product offerings are as follows:
- Guala Closures Group announced that they have entered into a partnership agreement with Vigneti Massa, which is extensively involved in winemaking and is located in Tortonesi Hills in Piedmont, to launch their new wine bottles. These wine bottles have closures that are connected with the N STGATE NFC technology in Europe. This product will enable the consumers to verify the authenticity of the product owing to blockchain technology.
- M.A. Silva USA, which is among one of the leading companies involved in the manufacture and sale of high-quality and premium glass bottles and corks for wines offers a range of corks under their product line. They offer products such as “Silktop Technical Corks”, “Sparkling Wine Corks”, and Pearl Mirco-Agglomerated” among others. The Silktop Technical corks are made up of sterilized agglomerated cork granules and have a high-quality natural cork disk placed at each end. The product is able to easily provide reliable sealing to effectively preserve the wine quality and use for wines that can be consumed in 3-4 years. The sparkling wine corks are specifically designed for use by the champagne and sparkling wine-producing companies and can withstand a good amount of pressure as they are made of fine and sterilized micro-agglomerated natural cork, with two discs at both ends. Additionally, the diameter of the corks can be customized as per the wine bottle requirements. The Pearl Micro-Agglomerated corks are produced using the best quality and uniformly sized micro granules that meet the tolerance standards. They are available in two types of granule sizes and are offered in this product with two types of dimensions, which are 24x38 mm and 24x45 mm.
Corks are necessary and the most preferred type of wine closure, as they can aid the wine in retaining its properties.
Corks are an essential part of the wine bottle and the most preferred type of wine closure as they are effectively able to preserve the different properties of wine over time and also ensure that the wine can develop and age perfectly in the bottle. In addition, they can prevent the entry of oxygen into the bottle, which can cause the wine to spoil, and also prevent the entry of bacteria and the formation of mould inside the bottle. The usage of corks is increasing as wine bottle closures and is contributing to the market share cork-type wine closures hold.
The European region holds a considerable chunk of the market share owing to the increasing production and consumption of wine, and the Asia Pacific region is expected to show promising growth over the forecast period
The European region is expected to hold a considerable share over the forecast period because there is increasing production and consumption of wine in countries such as Spain and Italy, specifically, among the high-income and middle-income populations due to the culture of consuming wine for different occasions, ceremonial, and recreational purposes. In addition, Portugal and Spain are among the leading producers of premium and high-quality corks. In conjunction, Amorim Cork, which is one of the leading cork-producing companies based in Portugal, contributes to the provision of natural and technical corks.
The Asia Pacific region is estimated to show promising growth over the forecast period, which is attributable to the fact that wine production is growing considerably in the region. Moreover, there are new corks that are being launched in Australia and New Zealand. For example, Jet Technologies and Vinventions have collaborated to launch a new type of cork, which is biodegradable and called the SUBR F7, that has enhanced features like being TCA and glue-free and is derived from plant-based materials.
Moreover, some new wineries and vineyards are opening up in different parts of India to ramp up wine production and cater to the gradually rising demand. For example, Vidarbha Wineries, which is based in Nagpur, announced that they have started their operations by marketing their port wine bottles. Sula Vineyards, which is among the most famous wineries in India, located in Nashik, launched its new festive sparkling wine in November 2018.
Recent Developments and expansions
Amcor plc, a major leader in the global packaging industry, unveiled a new proprietary technique for the creation of customized, dimensional, & recyclable closures in February 2020. The customized closure of this new solution, which is aimed at premium wine and alcohol bottle brands, elevates the design and guarantees the quality of the goods.
The new combiMaxx closure was introduced by SIG Combibloc Group Ltd. in October 2019 for customer convenience and to enable customers to improve their packaging without making a significant investment in new sleeves. According to the business, the combiMaxx closure would provide clients with straightforward handling and spill-free horizontal and vertical storage.
COVID-19 Impact on the Wine Bottle Closures Market
The wine bottle closure market was impacted by COVID-19. Due to the shutdown in HORECA (resorts, hotels, and cafes) industry as a result of the lockdown imposed by the government due to the COVID-19 pandemic, the sales of alcoholic beverage businesses suffered including wines. Hence, the growth of the wine closure market was impacted negatively.
Global Wine Bottle Closures Market Scope:
|Market size value in 2020||US$3.242 billion|
|Market size value in 2027||US$4.797 billion|
|Growth Rate||CAGR of 5.76% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Wine Type, Closure Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Guala Closures S.p.A, T & C Margo, M.A. Silva USA, Amorim Cork, MGJ, Croxsons, PORTOCORK AMERICA, MaryLand Cork Company, Inc., Vinventions|
|Customization scope||Free report customization with purchase|
- By Wine Type
- By Closure Type
- Screw Cap
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What will be the wine bottle closure market size by 2027?
A1. The wine bottle closure market is projected to reach a market size of US$4.797 billion by 2027.
Q2. What is the size of the global wine bottle closure market?
A2. Wine Bottle Closure Market was valued at US$3.242 billion in 2020.
Q3. What are the growth prospects for the wine bottle closure market?
A3. The global wine bottle closure market is projected to grow at a CAGR of 5.76% over the forecast period.
Q4. Which region holds the maximum market share of the wine bottle closure market?
A4. The European region holds a considerable chunk of the wine bottle closure market share owing to the increasing production and consumption of wine.
Q5. What factors are anticipated to drive the wine bottle closure market growth?
A5. Product Offerings, Acquisitions, and Launches by major market players are estimated to lead to increased adoption and propel the wine bottle closure market growth.
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Wine Bottle Closure Market Analysis, by Wine Type
6. Global Wine Bottle Closure Market Analysis, by Closure Type
6.3. Screw Caps
7. Global Wine Bottle Closures Market Analysis, by Geography
7.2. North America
7.2.1. North America Wine Bottle Closures Market, By Wine Type, 2020 to 2027
7.2.2. North America Wine Bottle Closures Market, By Closure Type, 2020 to 2027
7.2.3. By Country
22.214.171.124. United States
7.3. South America
7.3.1. South America Wine Bottle Closures Market, By Wine Type, 2020 to 2027
7.3.2. South America Wine Bottle Closures Market, By Closure Type, 2020 to 2027
7.3.3. By Country
7.4.1. Europe Wine Bottle Closures Market, By Wine Type, 2020 to 2027
7.4.2. Europe Wine Bottle Closures Market, By Closure Type, 2020 to 2027
7.4.3. By Country
7.5. Middle East and Africa
7.5.1. Middle East and Africa Wine Bottle Closures Market, By Wine Type, 2020 to 2027
7.5.2. Middle East and Africa Wine Bottle Closures Market, By Closure Type, 2020 to 2027
7.5.3. By Country
126.96.36.199. Saudi Arabia
188.8.131.52. United Arab Emirates
7.6. Asia Pacific
7.6.1. Asia Pacific Wine Bottle Closures Market, By Wine Type, 2020 to 2027
7.6.2. Asia Pacific Wine Bottle Closures Market, By Closure Type, 2020 to 2027
7.6.3. By Country
184.108.40.206. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Guala Closures S.p.A
9.2. T & C Margo
9.3. M.A. Silva USA
9.4. Amorim Cork
9.7. PORTOCORK AMERICA
9.8. MaryLand Cork Company, Inc.
T & C Margo
M.A. Silva USA
MaryLand Cork Company, Inc.
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