Global Wine Barrel market: Overview
Wine barrels, particularly the ones that are made of oak, have long been in use as containers that help in the process of aging of wine. Aging in barrel made of wood of oak tree particularly gives spicy and vanilla flavors to the wine. The size of a barrel is important in giving desired effect of oak on the aging wine and it is done by adjusting the barrel surface area to wine volume. The smaller the container, the greater is the impact. The global wine barrel market is likely to observe growth in rising sales of wines across all geographies.
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The global wine barrel market is likely to be not affected by the outbreak of coronavirus as consumption of wine has not exhibited any fall in revenue. On the contrary, it is expected that during lockdown, people are more likely to consume wine, which is likely to boost growth of the global wine barrel market in the years to come. Some of the most popular styles of barrels are Burgundy style barrel and Bordeaux style barrel. Burgundy style barrel holds around 228 liters and Bordeaux style barrel hold 225 liters. A barrel does two things, one is it enables slow entry of oxygen into the wine and the other is that it adds certain properties of wood into the wine. However, the major role of a wine barrel lies in its ability to age wine. Wine barrels can last for around 100 years.
The global wine barrel market has been segmented based on type of wine, wine barrel type, and region. The main objective of providing such a comprehensive report is to provide a deep insight into the market.
Global Wine Barrel Market: Notable Developments
The global wine barrel market has witnessed quite a few path-breaking developments in the last few years. One such development of the market is mentioned below:
- In August 2016, the US-based company, The Barrel Mill stepped up it production of barrel and made an introduction of a new product, a 53-gallon vessel, in its existing product line. This move is likely to expand the business and add to the revenue of the company.
Some of the key vendors of the global wine barrel market are
- Seguin Moreau Napa Cooperage
- G & P Garbellotto S.p.A.
- Bouchared Cooperages Australia PTY. Ltd
- The Barrel Mill
- Oeneo SA
- StaVin Inc.
Global Wine Barrel Market: Growth Drivers
Rising Demand for Wine is Likely to Bolster Demand in the Market
The burgeoning demand for wine barrel is likely to offer ample scope of growth for the global wine barrel market over the tenure of assessment, 2019 to 2029. The ability of these barrels to impart a distinct taste, flavor and rich quality through the process of aging is likely to drive the demand for wine barrels in the years to come. When these barrels are use for storage of wine, improved color, increased stability, and decreased astringency are added to the wine. This factor is likely to work in favor of the growth of the global wine barrel market in the near future.
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However, these days many manufacturers of oak wine barrels have started making use of other available options such as powder, chips, and blocks of oak in an effort to add its aromas and flavors to the wine. This factor is estimated to reduce the demand for oak wine barrels. In addition, oak wine barrels are highly price, which is likely to impact the market adversely in the years to come.
Stainless steel is increasingly used in the making of wine barrels these days as they come with low cost of maintenance and longer life span. Unlike in oak barrels where acidic property of wine oxidizes wooden barrel, stainless steel barrels remain unaffected. This factor is estimated to drive the growth of the global wine barrel market over the period of assessment.
Global Wine Barrel Market: Regional Outlook
North America is estimated to hold a large chunk of the global wine barrel market over the tenure of assessment. Such dominance of the region is mainly due to the ever increasing demand for wine and rising disposable income in the region. Europe is also likely to emerge as another prominent region in the market, thanks to the augmented demand for wine.
The global wine barrel market is segmented as:
Wine Barrel Type
- French oak wood
- American oak wood
- Eastern oak wood
- Red Wine
- White Wine
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