Wine Capsule Market is Expected to Reach USD 3.5 Billion by 2034 | Future Market Insights, Inc.
Are Artisanal Wine Breweries and Emerging Wine Market in Asian Countries Driving the Demand for Wine Capsules? Here’s what FMI has to say!
/EIN News/ -- NEWARK, Del, July 11, 2024 (GLOBE NEWSWIRE) -- The wine capsule market has shown steady growth over the years. Looking ahead to 2034, the projected size of the industry is USD 3.5 billion, indicating a positive growth trajectory. The value-based CAGR from 2024 to 2034 is estimated to be 5.2%. In 2023, the industry was valued at USD 1.82 billion, and it is estimated to reach USD 1.91 billion by the end of 2024.
The wine capsule market is poised for significant growth, driven by increasing wine consumption in emerging economies like India, China, Singapore, Thailand, and Malaysia. The trend towards premiumization in the global wine segment has also spurred demand for high-quality, visually appealing wine capsules.
Manufacturers are responding to this demand by curating aesthetically pleasing capsules so that they meet consumer and business demands. The hospitality sector in countries like Thailand, Singapore, and South Korea also boosts demand as wine capsules enhance the visual appeal of wine bottles in restaurants, hotels, and bars.
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The expansion of the wine market in Asia and Latin America, fueled by growing middle classes and disposable incomes, augments the demand for high-quality wine capsules. Despite the market growth, cost considerations in producing premium capsules deter small-scale companies, and environmental concerns about waste drive the shift towards biodegradable materials, which is significantly hampering market growth.
“Companies in the wine capsule market should focus on sustainability by developing eco-friendly materials and reducing environmental impact. They should also invest in advanced technology for improved functionality and customization. Collaborating with wineries to tailor solutions and staying responsive to market trends are also crucial. Emphasizing quality and innovative designs will help differentiate their products and meet evolving consumer demands, driving market growth”, says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Market Study:
- The red wine segment dominates the global wine capsule market with a share of 46% in 2024.
- Based on the material, the tin segment leads the wine capsule market with a share of 58% in 2024.
- The wine capsule market in India is anticipated to grow at a CAGR of 8% through 2034.
- The wine capsule market in China is estimated to rise at a 5.9% CAGR through 2034.
- The wine capsule market in Thailand has the potential to increase at 7.5% CAGR through 2034.
- The United States wine capsule market is predicted to rise by 3.5% CAGR through 2034.
- The wine capsule market in the United Kingdom is very likely to grow at a CAGR of 4.4% through 2034.
Competitive Landscape:
The wine capsules market is highly competitive, with both local and international companies vying for dominance. Established brands are increasingly emphasizing the use of eco-friendly materials to appeal to environmentally-conscious consumers and businesses. Companies are focusing on marketing their products in previously untapped markets as part of their expansion strategies. The global wine capsules market is witnessing a surge in innovative technologies, with brands integrating features such as QR codes and NFC tags ICs into their capsules.
Prominent players in the market are Ramondin, Rivercap, Sparflex, Tapi Group, ProAmpac, and Glenroy, Inc.
Key Players in the Wine Capsule Industry
- Guala Closures Group
- Amcor plc
- Vinventions
- Mondi Group
- Sealed Air Corporation
- Smurfit Kappa Group
- Maverick Enterprises
- Polylam Capsules
- Ramondin
- Rivercap
- Sparflex
- Tapi Group
- ProAmpac
- Glenroy, Inc.
- Coveris
- Constantia Flexibles
- PBFY Flexible Packaging
- Pacific Bag, Inc.
- C-P Flexible Packaging
- ePac Flexible Packaging
Recent Developments:
- Amcor Capsules since April 2024 uses over 90% recycled tin in its premium tin capsules and sparkling foils, cutting carbon emissions by 70%.
- The Glenlivet's Capsule Collection offered, in August 2024, 23ml whisky-filled seaweed pods, providing a sustainable and biodegradable option that breaks whisky consumption norms.
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Key Segments of the Wine Capsule Industry:
By Material:
Material segmentation includes tin, lead, aluminum, PVC, and other composite materials.
By Distribution Channel:
On the basis of distribution channel, the industry is segmented into manufacturers (direct sales), retail, distributors, and online.
By End User:
Based on the application, the wine capsule market is classified into red wine, white wine, and rose wine.
By Region:
Key countries of North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa (MEA), and Oceania have been covered in the report.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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