Reusable Barrels Market Expected to Reach $248.9 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Reusable Barrels Market," The Reusable Barrels Market Size was valued at $163.69 million in 2021, and is estimated to reach $248.9 million by 2031, growing at a CAGR of 4.1% from 2022 to 2031.

Wooden barrels are typically made of hollow cylindrical wooden planks joined by hoops made of wood or metal. Additionally, fiber and metal materials are used to construct the reusable barrel.

The reusable barrels can be used for bulk storage and delivery of goods including spices, jute, lentils, cashews, and oils in the food industry. Barrels are also the safest shipping containers available. Reusable barrels contribute to the long-term flavor and quality retention of alcoholic beverages. These factors are therefore anticipated to drive the market for reusable barrels. The product is also protected from harmful UV rays, dust, moisture, and any pests that might be present close to the storage place when it is properly sealed. Barrels are the ideal containers for industrial activity because of their storage endurance. Additionally, it is possible to make plastic/fiber barrels that are resilient, recyclable, and leak-proof to protect goods from the elements. Such elements are fueling the reusable barrels market growth.

Barrels are also the safest containers for shipments. Owing to this, there is a rise in the demand for barrels with the rise in food industry, which is driving the growth of the market. The demand for flavored alcoholic beverages is anticipated to expand, which would boost the global market for reusable barrels. The global market for reusable barrels is being driven by a rapidly growing consumer lifestyle, rising per capita income, and a rising demand for premium goods such as craft and draught variations. Long-term quality and flavor preservation of alcoholic beverages is facilitated by the use of reusable barrels. Thus, such factors are anticipated to drive the growth of the reusable barrels market.

In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering growth of the reusable barrels market. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to the re-initiation of reusable barrels companies at their full-scale capacities, which is expected to help the reusable barrels market to recover.

Reusable storage products that can be recycled and repurposed are more popular with consumers, which is what is driving the market for these products. Furthermore, major manufacturers invest in research and development activities and technology to create environment-friendly and economically viable storage solutions that do not compromise the level of protection of stored goods. Such a strategy is expected to bring many opportunities and drive the growth of the reusable barrels industry.

The global reusable barrels market is segmented into material, process, application, and region. On the basis of material, it is classified into plastic & fiber, wood, and metal. By process, it is segregated into recycle and reuse. On the basis of application, it is further classified as beverage, furniture & home décor, fuel & oil storage, and other. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

The reusable barrels market is segmented into Material, Process and Application. On the basis of material, it is classified into plastic & fiber, wood, and metal. By process, it is segregated into recycle and reuse. On the basis of applications, it is further classified as beverage, furniture & home décor, fuel & oil storage, and other. Region wise, Europe held the largest reusable barrels market share in 2021, and Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

The major players profiled in the reusable barrels market include Red Head Barrels, Midwest Barrel Company, Kentucky Bourbon Barrel, Kelvin Cooperage, O'Bryan Barrel Co, Inc., Country Connection, Mystic Barrels, Asian Barrels, Rocky Mountain Barrel Company, and Jones Barrel Company.

Key Benefits For Stakeholders

• The report provides an extensive analysis of the current reusable barrels market trends and future estimations. 
• Extensive analysis of the reusable barrels market analysis is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
• The global reusable barrels market forecast analysis from 2021 to 2031 is included in the report.
• The key market players within the global reusable barrels market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the global market.
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the reusable barrels market analysis from 2021 to 2031 to identify the prevailing reusable barrels market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.