REUSABLE BARRELS MARKET ANALYSIS

Reusable Barrels MarketSize and Trends

Global reusable barrels market was valued at US$ 141.9 Mn in 2022, exhibiting a CAGR of 6.0% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 226.7 Mn by 2030.

On the basis of material type, the French oak wood segment dominated the global reusable barrels market in 2022, accounting for around 49% of market share, in terms of revenue, followed by French oak wood and others, owing. American Oak is a hardwood common to the eastern U.S. and is considered a hard and heavy wood with low stiffness and medium crushing and bending strength. It has extremely good steam-bending properties and is easy to machine, nail, glue, and screw. It stains easily and can take a wide variety of colors.

Figure 2. Global Reusable Barrels Market, By Region, 2022

Global Reusable Barrels Market- Trends

Continuous product innovation by key players

Continuous product innovation by key players is one of the growing trends in the global reusable barrels market and this trend is projected to drive the market growth during the forecast period. Manufacturers are focused on using bourbon aged barrels to launch new products in order to expand their product portfolio. For instance, , Lillie’s Q (a supplier of complete range of traditional, deep-rooted barbecue sauces based in Chicago, U.S.) launched its limited edition bourbon barrel aged smoky sauce. The new sauce is Lillie’s Q popular Memphis-style sweet smoky recipe aged for six months in 20 Kentucky bourbon barrels.