Global Wine Barrel Market to Reach US$ 5,268 Million by 2027
The global wine barrel market is expected to project a fairly positive outlook over the forecast period, with emerging economies such as China, South Africa, Brazil, India, etc. registering comprehensive growth over the forecast period. The Western Europe region accounts for nearly 1/3th of the global wine barrel market. A new report published by Future Market Insights titled “Wine Barrel Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027)” tracks the performance of the global wine barrel market during the projected period of 10-years between 2017 and 2027. The global wine barrel market was valued at US$ 3,197.8 Mn in 2016, and is forecast to be valued at US$ 5,268.1 Mn by the end of 2027, expanding at a CAGR of 4.7% over the forecast period. Highest production of American Oak and French engineered oak flooring is a key factor boosting market revenue growth. Countries such as Argentina, Chile, Australia and China are most favorable in the global wine barrel market and are expected to drive global sales of wine barrels.
On the basis of oak type, the global wine barrel market is segmented into French Oak, American Oak and Eastern European Oak. The French Oak segment is expected to gain 160 basis points over the forecast period. This segment is likely to emerge as the most attractive oak type over the forecast period. The French Oak segment is anticipated to create an incremental opportunity of US$ 1,114.4 Mn during the forecast period, accounting for an estimated value share of 49.8% of the global wine barrel market in 2017.
Segmentation by toast level type includes light toast, medium toast, medium plus toast and heavy toast. Medium toast level type is a popular segment and is expected to hold more than 40% revenue share in the global wine barrel market throughout the forecast period. The medium toast segment is expected to create an incremental opportunity of US$ 910.1 Mn during the forecast period. Medium plus toast is the second largest segment anticipated to account for 26.1% of the global wine barrel market share in 2017.
By capacity the global market is classified into barrique, hogshead, puncheon and others. The barrique segment (i.e. 225 litres) is expected to generate an incremental opportunity of 1,156.9 Mn over the forecast period.
The seven key regions of North America, Latin America, Eastern Europe, Western Europe, APAC, Japan and MEA are analysed in this report. Western Europe is estimated to be the leading market for wine barrels with a market share of 37.1% in 2017 in terms of value and is expected to expand at a CAGR of 4.4% during the forecast period.
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