Wine is the third-largest segment of the globally consumable alcoholic drinks. Together, USA, France, Italy, Germany and China takes up around half (49%) of the world’s wine consumption. The hogshead barrel market has become mature in Europe, especially in France, Germany and Italy, due to strong sales in the US market.
However, Asia-Pacific is expected to witness rapid growth, during the forecast years. This is because the number of wine producers are increasing rapidly in China, India, and Japan, owing to increase in demand for premium wines and adoption of western lifestyle with rising disposable income driving the growth of wine consumption and eventually acting as a catalyst to increase the demand of hogshead barrels in the region.
The USA is still dominating the wine market, the country with the biggest wine consumption, 33 million hectoliters and even increasing in a healthy growth rate. Hogshead barrel orders from the US wineries continue to bolster French oak barrels market.
The only thing that could provide some relief for winemakers buying new hogshead barrels in the lower value of euro, which could help mitigate increases in the prices of French and European oak barrels.
Increasing urbanization, rise in disposable income, and changing lifestyle of consumers, especially in the emerging economies such as India, Brazil, and China, has resulted in more people inclining towards off-the-shelf alcohol consumption habits. Increasing penetration in the emerging economies is anticipated to be a key driver for the growth of the global hogshead barrel market.
Wine packaging manufacturers have witnessed increasing demand from countries such as India, where alcohol consumption has essentially doubled in the last two decades.
Furthermore, several health benefits related to consumption of wine is also expected to drive the hogshead barrel market. To meet the increasing demand, the players in the market have increased the production of barrels around the globe, and this is expected to continue during the forecast period.
Geographically, hogshead barrel market has been segmented as North America, Latin America, Europe, Asia Pacific and MEA. The Asia Pacific region is expected to register the healthy rate of growth in terms of wine consumption which in turn will boost the hogshead barrel market.
This is due to changing lifestyle standard of people with rising higher income group people. Many countries in Africa like South Africa is also registering strong growth of wine sales at retail outlets, and therefore, manufacturers of hogshead barrels are expected to emphasize on sales in the Africa, and Asia Pacific region.
Countries like Australia & China are the main wine producers in the region with Australia ranking 6th in the world’s wine production and accounting for almost 10% of the global wine production.
Also, emerging economies like India, Thailand, Philippines, etc. have also shifted their focus towards consumption of wine. All this factors contributes towards the growing opportunities for hogshead manufacturers in Asia Pacific region during the forecast period.
Some of the key players in the global hogshead barrel market are as follows:
The report is a compilation of first-hand information, qualitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
On the basis of Oak Type, global hogshead barrel has been segmented as:
On the basis of End Use, global hogshead barrel has been segmented as:
Hogshead Barrel Market
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