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Market Overview of Global Closures for Wine market:
According to our latest research, the global Closures for Wine market looks promising in the next 5 years. As of 2022, the global Closures for Wine market was estimated at USD 2123.23 million, and it's anticipated to reach USD 2960.37 million in 2028, with a CAGR of 5.7% during the forecast years.
Closures for Wine refer to the stoppers used in the wine industry to seal wine bottles, the main function of which is to seal the bottle and avoid harmful contact between the wine and oxygen. The choice of closure depends on issues such as the risk of cork taint, oxygen permeability and desired life of the wine. Another factor is consumer reaction, with the wine-buying public in Australia and New Zealand positive to alternative closures, while opinion is divided among consumers of the United States. In Europe, perceptions that associate screw caps with low-quality wine may be declining.
Growth of the wine market
The Closures for Wine market is influenced by the wine market. According to research, the global wine market is growing. Due to the health benefits and popularity of wine, wine consumption has increased among the female population. Wine is on the rise in the population, especially among female individuals, as it helps them relax and relieve anxiety and stress from heavy chores and chores, and some studies suggest that regular, small consumption of wine may Beauty benefits such as anti-aging and changing dull complexion. In addition, drinking wine has several health benefits that make it so popular, including improving gut health, reducing the risk of cancer and dementia, reducing the chance of vision loss, controlling blood pressure, promoting heart health, and more. Going forward, the wine market is likely to be driven by growing wine demand owing to the health benefits of wine and the premiumization of wine products, coupled with flavor innovations and more advanced global distribution networks. The growth of the wine market will also drive the development of the Closures for Wine industry.
Increased requirements for environmental protection
With the growing demand for sustainably sourced products, wine's environmental impact has come under increasing scrutiny, which means that the eco-friendliness of different closure types has become a factor in the choice of closures. In terms of CO2 emissions alone, studies have shown that cork stoppers have the lowest carbon footprint and screw caps the highest in terms of stopper manufacturing, distribution and disposal. Screw caps are all environmentally unfriendly in terms of non-renewable energy consumption, contribution to atmospheric acidification and solid waste generation. Screw cap is one of the main types of Closures for Wine market, but now its market growth is limited due to its impact on the environment, and other types of products are also more or less affected.
Geographically, Europe held the largest market share - 79.04% in 2022.
Amorim is one of the major players operating in the Closures for Wine market, holding a share of 34.82% in 2022.
Corticeira Amorim is the world's biggest cork processing group. Corticeira Amorim's business scope includes the stoppers of the world's finest wines, on leading international architectural projects, on satellites launched into space, state-of-the-art road projects, Olympic sports articles and so on.
Oeneo Group is a major wine industry player with high-end and innovative brands. Present around the world, the Group covers each stage in the winemaking process through two core and complementary divisions:
Closures, which manufactures and sells cork closures, including high value-added technological closures through its Diam range and traditional closures through its Piedade range.
Winemaking, which provides high-end solutions in winemaking and spirits for leading market players with Seguin Moreau and develops innovative solutions for the wine industry with Vivelys (R&D, consulting, systems).
Among different product types, Cork segment is anticipated to contribute the largest market share in 2028.
By application, the Still Wine segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Closures for Wine market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Closures for Wine Market Report:
Market Size Estimates: Closures for Wine market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Closures for Wine market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Closures for Wine market
Segment Market Analysis: Closures for Wine market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Closures for Wine market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Closures for Wine Market: Revenue and sales volume of major countries in each region
Closures for Wine Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Closures for Wine market in major regions.
Closures for Wine Industry Value Chain: Closures for Wine market raw materials & suppliers, manufacturing process, distributors, downstream customers
Closures for Wine Industry News, Policies & Regulations
Key players in the global Closures for Wine market are covered in Chapter 12:
Guala Closures Group
In Chapter 2 and Chapter 15.1, based on types, the Closures for Wine market from 2018 to 2028 is primarily split into:
In Chapter 3 and Chapter 15.2, based on applications, the Closures for Wine market from 2018 to 2028 covers:
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
Asia-Pacific (Covered in Chapter 8)
Europe (Covered in Chapter 9)
Latin America (Covered in Chapter 10)
Middle East and Africa (Covered in Chapter 11)
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Closures for Wine market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028