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
Driver
New flavor advancements may increase demand for reusable barrels
Reusable barrels are cylindrical wooden plank containers and are mostly used to store spirits. The demand for reusable barrels is expected to rise as the millennial population increases. Furthermore, new flavor advancements may increase demand for reusable barrels. When it comes to fermenting and aging wines, brand owners prefer reusable barrels. Reusable barrels reduce the amount of oxygen in the wine, improving the taste and quality. This is anticipated to increase the demand for reusable barrels in the market.
Market Opportunities
The reusable barrels market finds applications across a wide range of industries
The reusable barrels market finds applications across a wide range of industries. In the food and beverage sector, reusable barrels are used for bulk storage and transportation of liquids such as wine, beer, oils, and syrups. The chemicals industry utilizes reusable barrels for storing and distributing various chemicals, solvents, and hazardous substances safely and efficiently. In agriculture, these barrels are instrumental in handling and transporting fertilizers, pesticides, and other agricultural products. Moreover, reusable barrels are also gaining popularity in the pharmaceutical, automotive, and manufacturing sectors, offering a sustainable solution for the handling of various goods and materials.
Market Restraints
New amendments made by Scotch Whisky Association regarding used barrels
The Scotch Whisky Association (SWA) announced an amendment to the laws and regulations concerning Scotch whisky. The amendment allows Scotch producers to use a wider range of casks for the maturation and finishing of their Whiskies, without losing the label 'Scotch Whisky'.
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Key Takeaways:
On the basis of end-use industry, the scotch industry dominated the global reusable barrels market in 2021, with around 58.0% of the market share, in terms of revenue, followed by the tequila Industry, rum industry, beer industry, and décor industry. The growth is attributed to rising demand for premium and high-quality alcoholic beverages, owing to an increase in the purchasing power of consumers.
Market Trends
The increased adoption of recyclable raw materials for barrel manufacturing
The increased adoption of recyclable raw materials for barrel manufacturing is a significant trend in the global reusable barrels market. One of the main factors driving the global reusable barrels market is the change from traditional materials to biodegradable materials for barrel manufacturing, which is being driven by strong environmental legislation around the world aimed at lowering carbon emissions. Furthermore, one of the major trends is the growing demand for efficient and safe transportation of bulk materials. The global reusable barrels market is also growing due to the vast product array supplied by manufacturers in terms of various shapes and sizes.
Competitive Section:
Key Companies
- Annandale Distillery,
- Rocky Mountain Barrel Company,
- Exotic Barrels, Esty Inc.,
- Midwest Barrel Co.,
- Mystic Barrels,
- Red Head Barrels,
- Kentucky Bourbon Barrel (Independent Stave Company),
- Country Connection, and
- Kelvin Cooperage
