VALLEY COTTAGE, N.Y. – Wine follows beer and spirits among worldwide consumable alcoholic beverages. Consumption of wine is set to increase in line with low alcoholic drinks, thereby fueling the market of wine barrels. However, manufacturers are moving to cheaper alternatives, including chips, and powdered tannins, for aging wines – a factor hindering market growth.
Sales of wine barrels remain highest in North America and Western Europe owing to increased demand for low alcoholic drinks, especially in the US, and France. FMI, in its recent market study, finds that global wine barrel market is estimated to click ~US$ 4 Bn in 2019, and is anticipated to grow at a healthy CAGR of ~5% over forecast period (2019-2029).
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French Oak Leads, American Oak Catches Up
Wine producers, in majority of incidents, leverage either French oak or American oak for aging process of wines. The wide grain in American oak barrels enable greater interaction between wines and wood during the aging process. Consequently, consumers can enjoy diverse flavors, including sweet spice, coconut, vanilla, and dill. On the flip side, the tighter grain in French oak barrels provides less space for wood-wine interaction, imparting hints of flavors, such as dark chocolate, and roasted coffee.
French oak, owing to higher porosity as compared to American oak, results in greater concentration of flavors. However, high costs associated with French oak barrels are restricting their prominence to large-scale wineries. Yet, FMI reveals that demand for French oak barrels is projected to grow at healthy rate over forecast period.
Preview Analysis of2019 Analysis and Review of Wine Barrel Market by Oak Type – French Oak, American Oak, and Eastern European Oak for 2019 – 2029: https://www.futuremarketinsights.com/reports/wine-barrel-market
Stainless Steel – A Perfect Substitute
Wine producers have to dispose of barrels after the functional aspects of barrels diminish – normally 3-5 years. Oak wine barrels significantly add to winemaking process, resulting in lesser returns. Further, governments across the globe are imposing strict regulations against deforestation, thereby paving way for alternative materials.
Stainless steel has emerged as sustainable alternative to oak wine barrels following exceptional recyclability. Consumers’ shift towards less oaky wines is influencing winemakers to age their wines via alternatives, such as stainless steel wine barrels. In addition, stainless steel wine barrels are re-usable, thereby they are ideal for small-scale wineries.
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Analysts at FMI suggest that “Wine is associated with enhanced health benefits. Consumption of wine is increasing worldwide, particularly among millennials. In a bid to reduce alcoholic intake, consumers are turning to low-alcoholic beverages, such as wines. Such trends are fueling the market of wine barrels in coming years.”
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