Global Closures for Wine Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Closures for Wine Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

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.

Market Overview:

The latest research study on the global Closures for Wine market finds that the global Closures for Wine market reached a value of USD 2114.37 million in 2022. It’s expected that the market will achieve USD 2912.07 million by 2028, exhibiting a CAGR of 5.48% during the forecast period.

Closures for Wine Growth Drivers

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.

Existing and new players offer and launch better, more advanced Closures for Wine varieties with enhanced properties and other features such as superior material quality and label durability. The application in different markets is estimated to increase adoption and further drive market growth over the forecast period. For example, in September 2019, Guala Closures announced their new collection of closures called NěSTGATE, which includes seven closures for wine, spirits and olive oil. These come with an elegant design and offer a choice between wood and cork, with an aluminium or resin coated anti-fill closure. In addition, by placing a smartphone close to a bottle equipped with the connected caps developed by Guala Closures, consumers will have access to exclusive and personalised contents: product information, tasting tips, games, offers and social media. Manufacturers keep launching new products, as well as the continuous development of new technologies, further promotes the development of the Closures for Wine market.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

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).

Segmentation Overview:

Among different product types, Cork segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Still Wine segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Closures for Wine market covered in Chapter 3:

Guala Closures Group
Cork Supply
Amorim
AMCOR
MASilva
OENEO
Labrenta
Vinvention

In Chapter 4 and Chapter 14.2, on the basis of types, the Closures for Wine market from 2018 to 2029 is primarily split into:

Cork
Screwcap
Plastic

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Closures for Wine market from 2018 to 2029 covers:

Still Wine
Sparkling Wine

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)