The global sales reusable wine bags market are estimated to be worth USD 1.3 billion in 2021 and are anticipated to reach a value of USD 2.1 billion by 2031. Sales are projected to rise at a CAGR of 5.5% over the forecast period between 2021 and 2031. The revenue generated by reusable wine bags in 2020 was USD 1.2 billion.
Growing environmental awareness, coupled with the drive to reduce single-way plastics, has elevated reusable wine bags to high demand. Consumers and enterprises are in pursuit of environmentally friendly alternatives to traditional packaging.
Increased wine consumption across the globe, on the back of changes in lifestyle and increased disposable incomes, adds to the demand for practical and stylish wine packaging solutions. Reusable wine bags offer convenience related to the transport of wine and other beverages, thus appealing to consumers who want functional, durable packaging.
Global Reusable Wine Bags Market Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 1.2 billion |
| Estimated Size, 2021 | USD 1.3 billion |
| Projected Size, 2031 | USD 2.1 billion |
| Value-based CAGR (2021 to 2031) | 5.5% |
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Wine is a preferable choice to uplift the mood during any situation and is preferred as a sophisticated drink for celebrations. Wine enthusiasts collect various wines and preserve them for years to allow the beverage to ferment on its own to improve the quality and taste. Wine bags help in the safe storage of expensive and rare wine bottles. Some wine bags are made up of materials such as plastic, neoprene and others allow the wine to maintain a standard temperature.
Reusable wine bags are packaging items that are utilized for safe coverage and storage, but nowadays are also majorly used as a luxury item to attract more customers by improving the outlook. These wine bags are sold at the market along with the wine. Some wine manufacturers prefer to showcase their brand name and logo to promote the brand image.
With the awareness of environmental issues and environmental hazards caused due to the mass dumping of various items. This creates a rising demand for reusable or disposable packaging items such as reusable wine bags. These bags are very sustainable for every environment-conscious consumer.
The customization of reusable wine bags is gaining traction in the market as customers gift wine bottles on special occasions to friends, families and business deals. Personalized messages on the reusable wine bags give a more emotional touch that improves its aesthetic values. These attributes favour a lot in the increasing sales of reusable wine bags in the market.
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The threat of substitutes such as cartons, cardboard boxes, plastic bags, pouches, bag-in-bag box and many others have notably decreased the demand for reusable wine bags.
Also, the regulations related to overconsumption of alcohol owing to health problems can also hamper the growth of the reusable wine bags market.
Governmental policies regarding environmental issues, reduction in the consumption of materials that are bio-degradable in nature, and minimizing wastages have created a major opportunity for manufacturers to increase the production of reusable wine bags.
The involvement of middle and upper-class demography owing to the increased disposable income and the way of living a luxurious lifestyle has prompted an increase in the opportunities for new entrants to thrive in the competitive market.
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Key global players of the Reusable Wine Bags Market:
Key players in the Asia Pacific region of the Reusable Wine Bags Market:
According to Wine Intelligence in USA, consumption of wine has been majorly led by young generation consumers such as the Gen X and millennial who account for 1/3rd of USA regular wine drinkers during the Covid-19 pandemic. This region has the highest number across the globe in terms of consumption of wine which directly impacts the sales of wine bags in a positive manner. Presence of major key players and the increase in consumption of wine is fueling the growth of reusable wine bags market.
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Reusable Wine Bags Market
