The global wine totes packaging market is slated to exhibit a high growth potential, likely to register a value CAGR of 5% during the 2022-2032 forecast period. As per the study published by Future Market Insights, a valuation of US$ 3.8 Billion is anticipated for the market as of 2022. Sales of wine totes packaging products are further expected to reach a valuation of US$ 6.19 Billion by 2032.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2022 | US$ 3.8 Billion |
| Projected Market Value in 2032 | US$ 6.19 Billion |
| Global Growth Rate (2022 to 2032) | 5% CAGR |
Packaging plays a crucial role in boosting the commercialization of a product by increasing the visibility of the company's logo or the item's brand name. Even though promotional items are remembered by more than 80% of purchasers, they are regarded as a superior form of advertising to newspapers, smart TV, online advertisements, or any other semblance of advertisement.
Wine totes packaging emerges in response to the requirement for inventive advertisements, particularly in the product categories approach that aims at the luxury packaging market. Wine totes have the power to instill a perception in the minds of consumers regarding the quality of the wine, making them a crucial form of packaging.
According to our research, the wine totes packaging market is anticipated to grow owing to the ease provided by the wine totes to its users. Another aspect boosting the manufacturer's orientation for wine totes packaging is the capacity to safeguard fragile bottles from shocks, and provides adequate surface area for advertising and promotion.
Wine totes have an edge over wine boxes in that they are more robust and easy to handle and transport. Wine totes make it simpler for customers to transport wine bottles to a party or gathering.
Our studies show that companies must overcome several challenges to fulfill market demand, as wine totes have a limited range of applications as they can only be utilized for carrying containers due to their cylindrical shape, which can limit the market growth.
Wine consumption is expected to propel the wine totes packaging market in regions such as North and South America, Europe, and parts of Asia. Some other factor influencing demand for the wine totes packaging market is the rising customer perception of environmentally friendly packaging.
Due to their moderate intake of wine, North and Latin America, Eastern and Western Europe are likely to dominate the wine totes packaging market during the forecast period. Whereas the wine totes packaging market in Japan and the Middle East and Africa is predicted to continue to expand.
FMI recently completed an in-depth analysis of key market participants. Manufacturers in North America spend nearly US$ 20 million per year on printing brand-specific correspondence on free wine bottle accessories.
Ampac Holdings, LLC., Guangzhou Colorful Nonwoven Products Co Ltd, Wenzhou Guohong Packaging Co., Ltd, Shenzhen Beone Handbags Manufacturing Co., Ltd., Gogo Bags., Smartbags Ltd., Param Jute Products, Evans Manufacturing, Inc, Everwin Cottons Karur Private Limited, Picnic Time, Inc., Flymaxexim., and others are major players in the wine totes packaging market.
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Packaging plays a vital role in improving the marketability of a product by increasing the visibility of the company’s logo or the brand name of the product. As more than 80% of the consumers remember a company’s name through the promotional items, they are considered as better form of advertising as compared to newspaper, smart TV, online advertisement or any other forms of advertisements.
Wine totes are one such means to increase the aesthetic value of the product and improve the reputation of the company’s brand. Wine totes have an advantage over wine boxes by being sturdy and easy in handling and carrying purposes. Wine totes provide convenience for the customer to carry wine bottles to a party or a gathering.
Wine totes are tamper proof and made of multilayered film for insulating or protecting the wine bottle from getting damaged by absorbing the shocks. Wine totes are of different materials such as jute, leather, plastic, paper, etc.
Wine totes can be of different sizes catering to different amount of bottles designed as per customer requirements. Companies in North America spend close to US$ 20 Mn annually on printing brand specific communication on accessories that are given free with wine bottles
The need of innovative form of advertisement especially in product categories targeted to the luxury packaging market drives the demand for the wine totes packaging market. Wine totes have the ability to create a perception in consumers mind about the quality of the wine hence making it a significant form of packaging.
On the backdrop of convenience offered by the wine totes to its users the wine totes, packaging market is expected to show expansion. Features like protection of fragile bottles from shocks and ability to provide sufficient surface area for promotion and advertisement is another factor increasing the manufacturer preference for the wine totes packaging.
The regular consumption of wine in regions such as North & South America, Europe and some parts of Asia is expected to fuel the wine totes packaging market. Increasing consumer preference for a sustainable form of packaging is another factor propelling the demand for the wine totes packaging market.
However, wine totes have limited area of application as they can be used for carrying bottles only due to the cylindrical shape. The growing trend of consuming wine with meals at restaurant and at home is expected to create significant opportunity in the wine totes packaging market over the forecast period.
North & Latin America, Eastern & Western Europe are expected lead the wine totes packaging market over the forecast period owing to the regular consumption of wine in the regions.
Wine consumption in countries of APEJ region such as China, Korea, Singapore, and Thailand is significant and is expected to accounts for a considerable portion of the wine totes packaging market over the forecast period. Whereas growth for wine totes packaging market in Japan and MEA region is expected to move at a steady rate.
Principal Consultant
Some key players of wine totes packaging market are Ampac Holdings, LLC., Guangzhou Colorful Nonwoven Products Co Ltd, Wenzhou Guohong Packaging Co., Ltd, Shenzhen Beone Handbags Manufacturing Co., Ltd., Gogo Bags., Smartbags Ltd., Param Jute Products, Evans Manufacturing, Inc, Everwin Cottons Karur Private Limited, Picnic Time, Inc., Flymaxexim., etc.
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Wine totes packaging market can be segmented by bottle carrying capacity and by the type of material used.
Based on the bottle carrying capacity, wine totes packaging market can be segmented into:
Based on the type of material used, wine totes packaging market can be segmented into:
Wine Totes Packaging Market: Regional Outlook
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Wine Totes Packaging Market
