The wine barrels market is estimated to value at US$ 4.1 billion in 2022 and is projected to reach US$ 5.7 billion by 2029, at a CAGR of 4.8% during the forecast period.
The wine barrels market experienced soaring growth in 2020-2021 with worldwide revenues up 4.4% year over year. A new forecast by FMI estimates that wine barrels will increase between 2022 and 2029 along with holding the market value of US$ ~5.7 Bn in 2029.
Newly released data from wine barrels market analysis shows that global sales of the French oak and American oak segments are anticipated to register a CAGR of 5.1% and 4.4% respectively during 2022-2029 along with holding the market value of US$ ~3.5 Bn collectively in 2022.
Conclusions from the Wine Barrel Market Study
- Due to robust spirit and wine barrel sales in the U.S. market over the past ten years, the wine barrel business has flourished across Europe, particularly in France, Germany, and Italy.
- According to the most recent statistics, the USA continues to dominate the global wine market, consuming 33 million hectoliters annually.
- Alternatives that constrain the market growth for wine barrels include stainless steel and highly expensive French oak wine barrels.
- An increase in strict laws against tree cutting and more frequent forest fires are predicted to have a negative impact on the stable demand for oak wood wine barrels.
- Despite French oak wine barrels’ high price, there is still a considerable demand for them.
Emergence of Stainless Steel Barrels and Tanks as Alternative
Over the last few years, stainless steel wine barrels are precisely design and develop by manufacturers to meet the need of winemakers in all stages of development, fermentation, maturation, and storage of wine. The actual duration in the usage of oak wine barrel by winemakers is three to five years. Once the functional properties of the barrel reduces, winemakers have to dispose used barrels. However, stainless steel barrels are portable, durable, reusable, easy to clean, and maintain.
From the profitability point of view, winemaking is getting costlier day by day. Therefore, wineries are aging their wine in stainless steel barrels and tanks progressively. When the less oaky wines are needed, winemakers use oak wine barrel alternatives in the form of chips, powder, and blocks. Stainless steel is considered as sustainable alternatives to wine barrel as it is one of the world’s most widely recycled material.
Ask An Analyst @
Wine Barrels Market By Category
By Oak Type :
- French Oak
- American Oak
- Eastern European Oak
By Toast Level Type :
- Light Toast
- Medium Toast
- Medium Plus Toast
- Heavy Toast
By Capacity :
Table of Content
1. Executive Summary
1.1. Global Market Analysis
1.2. Global Market Outlook
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Definition
2.2. Market Coverage
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends