In 2020, the University of Michigan – Economic Growth Institute conducted an empirical study that analyze wine packaging in comparison to GDP, disposable income, beverage shipments, and packaging shipments. Wine consumption is predicted to increase by 2.4%, per billion liters, in the United States. As wine consumption continues to surge, the three key players in distribution of E. & J. Gallo Winery, The Wine Group., and Constellation Brands are seeing a significant increase in the need for packaging. ITB Packaging LLC
Millennials are the largest demographic of wine consumers. As their disposable income continues to increase wines sales are surging too.
In 2020 wine consumption is predicted to increase to by 2.4%, equating to 3.7 Billion liters that will be consumed.
Glass Bottle Demand
Glass bottle demand is predicted 3.5% annually, reaching $1.4 billion in 2020.
Packaged wine production is predicted to increase 3.1% annually in 2020.