A hollow cylindrical container made from wood staves and bound by metal or wooden hoops, wine barrel are used for fermentation of alcoholic beverage, wine. The flavor, texture, tanning profile and color of wine varies with the type of oak used in production of wine barrel.
According to a recent research by Future Market Insights, the global wine barrel market is expected to register a CAGR of 4.7% during the forecast period 2017 – 2027. The global wine barrel market was estimated to be valued at US$ 3,197.8 Mn in 2016 and expected to reach at US$ 5,268.1 Mn by the end of 2027. An analysts associated with the market researcher has answered some of the key queries regarding the expansion of the global wine barrel market, and has revealed valuable insights as follows:
What is the presumptive scenario for wine barrel market among regions?
Based on the regional analysis, Western Europe is highly likely to remain as most lucrative market place for wine barrel sales. The leading market players in this region are expected to account for 37.1% of value share in wine barrel market during the forecast period with an expanding CAGR of 4.4% during the forecast period. Wine barrel manufacturers operating at North America are expected to witness substantial growth owing to stable consumption rate of wine during the forecast period.
According to your analysis on supply demand scenario of wine barrel, what could be the deterrent factor to its market growth?
A single oak tree can produce two wine barrels with a capacity of 50 cases of wine. However, with the introduction of alternative raw materials such as spirals, granules, staves and oak chips, demand for oak wood barrels is expected to decline. The alternative are available easily at affordable cost in the market which results to have negative impact on market growth of oak wood win barrels.
Which regions you think are anticipated to witness sluggish growth in wine barrel market?
Enforcement of stringent laws and regulations regarding alcohol prohibition at certain regions is highly likely to restrain market growth of wine barrel. Emerging economies of the Middle East & Africa (MEA) such as United Arab Emirates, Iraq, Libya, Somalia, Yemen, Kuwait and Qatar have entire ban on alcohol consumption or fractional ban on alcohol beverages.
Another significant factor to have negative impact on wine barrel market is devaluation of pound post Brexit. Overall wine export for European countries such as Italy, France and Spain has dropped by 10% in 2016-2017. Thereby affects wine export trades to the United Kingdom and thus likely to remain as a significant obstacle in the revenue growth of wine barrel market across the globe.
As per FMI’s demarcation on wine barrel market, where do you think companies attain prolific opportunities in terms of oak type?
Depending upon oak type, American oak, East European Oak and French Oak are mostly used in the manufacture of wine barrels. Among these, demand for French oak is expected to witness rise in demand and estimated to account for nearly 49.8% value share during the forecast period. An incremental opportunity of US$ 1,114.4 Mn is expected to attain from sales of French oak wine barrels by the end of 2027.
Who are the leading manufacturers to contribute towards market growth of wine barrels sales?
The market is observed as consolidated mostly at Europe and North America. Companies such as Seguin Moreau Napa Cooperage, StaVin Inc., Premier Wine Cask, Inc., The Barrel Mill, , Tonnellerie Radoux , The Oak Cooperage, East Coast Wood Barrels Corp, , Canton Cooperage, Nadalié USA located at North America are highly likely to contribute most to revenue growth of wine barrel market. Other coamnies from Europe such as Tonnellerie de l’Adour, Damy Cooperage, Billon Cooperage, POZVEK d.o.o. are expected to account for potential opportunities to increase penetration rate of wine barrels during the forecast period.
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