Rising Consumption of Toasted and Barrel-aged Wine to Augment Sales of Wine Barrels, Says FMI
Worldwide sales of wine barrel are projected to reach the value of ~US$ 4 Bn by the end of 2019. In terms of demand, wineries and spirit producers are prominent users in the global wine barrel market. In developing markets, newly entered brands are assisting consumers in finding unknown wine and beverage alcohol products as well as locally generated flavors to create a remarkable growth of the wine barrel market.
Wine Barrel Market
A recent market study published by FMI on the wine barrel market includes the global indus...
The global wine barrel market will register a healthy CAGR during the forecast period, 2019 – 2029. The demand for wine barrel continues to rise on broader accessibility, owing to rising consumption of wine and related products due to health benefits as these help enhance mental health and heart condition and protect against formation of cancer cells in human body.
Key Takeaways - Wine Barrel Market Study
- Since the last decade, the wine barrel market has become fruitful in Europe, especially in France, Germany, and Italy, due to strong sales of spirit and wine barrel in the U.S. market.
- The USA is still prominent in the wine market, with the latest figures showing the country with substantial wine consumption of ~33 million hectoliters.
- Highly expensive French oak wine barrels and stainless steel wine barrel are alternatives that limit market growth for wine barrels.
- The stable demand for oak wood wine barrel is projected to suffer from an increase in stringent regulations against cutting of trees and frequent forest fires.
- In spite of the high cost of French oak wine barrel, the demand for the same is expected to increase at a CAGR of ~5% during the forecast period.
- As compared to developing economies, the sales of the wine barrel are anticipated to be higher in countries of North America and Western Europe.
With superior alternatives cropping up in the market, manufacturers must focus on rebranding their products and position themselves ahead of competitors to capture a significant market share.
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.
About Wine Barrel Market Report
Future Market Insights, in its new offering, brings to fore a neutral analysis of the global wine barrel market, presenting historical demand data (2014-2018) and forecast statistics for the period of 2019-2029. The study reveals compelling understandings on the wine barrel market on the basis of oak (French oak, American oak, and Eastern European oak), toast level (light toast, medium toast, medium plus toast, and heavy toast), capacity (Barrique, Hogshead, Puncheon and others), and distribution channel (direct and indirect), across seven major regions.
Detailed insights on wine barrel market can be availed in the report. Write to the analyst at [email protected]
About Packaging Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the Packaging team at Future Market Insights helps clients from all over the globe by providing their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the packaging industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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