Wood Barrel Market

The global market for casks, barrels, vats, tubs, and coopers products of wood is anticipated to experience growth in both volume and value over the period from 2022 to 2030. Despite a slight decline in consumption and production in 2022, overall trends show an upward trajectory. Key countries driving this growth include China, the UK, and the United States, with significant increases in consumption, production, imports, and exports recorded. The market is expected to continue this positive trend in the coming years, with various countries showing different rates of growth in the wood barrel industry.

Market Forecast

Driven by increasing demand for casks, barrels, vats, tubs, and coopers products of wood worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 50M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market value to $3.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Casks, Barrels, Vats, Tubs, And Coopers Products Of Wood

After two years of growth, consumption of casks, barrels, vats, tubs, and coopers products of wood decreased by -6.8% to 39M units in 2022. The total consumption volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, global consumption attained the peak volume at 42M units in 2021, and then declined in the following year.

The global wood barrel market value declined to $2.5B in 2022, falling by -6.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $2.7B in 2021, and then contracted in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (7M units), the UK (5.3M units) and the United States (4.4M units), with a combined 43% share of global consumption. Mexico, Japan, Russia, Pakistan, Brazil, Ireland, Indonesia, Spain, Bangladesh and Turkey lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +11.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest wood barrel markets worldwide were China ($489M), the UK ($254M) and the United States ($215M), with a combined 38% share of the global market. Mexico, Japan, Brazil, Spain, Bangladesh, Russia, Turkey, Indonesia, Ireland and Pakistan lagged somewhat behind, together accounting for a further 31%.

Ireland, with a CAGR of +13.0%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of wood barrel per capita consumption was registered in Ireland (217 units per 1000 persons), followed by the UK (77 units per 1000 persons), Spain (19 units per 1000 persons) and Mexico (14 units per 1000 persons), while the world average per capita consumption of wood barrel was estimated at 4.9 units per 1000 persons.

From 2012 to 2022, the average annual growth rate of the wood barrel per capita consumption in Ireland totaled +10.6%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the UK (+1.0% per year) and Spain (0.0% per year).

Production

World Production of Casks, Barrels, Vats, Tubs, And Coopers Products Of Wood

After two years of growth, production of casks, barrels, vats, tubs, and coopers products of wood decreased by -13.8% to 31M units in 2022. The total output volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 40%. Global production peaked at 36M units in 2021, and then reduced in the following year.

In value terms, wood barrel production totaled $3.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 26% against the previous year. Over the period under review, global production reached the peak level in 2022 and is likely to see gradual growth in years to come.

Production By Country

China (6.6M units) constituted the country with the largest volume of wood barrel production, comprising approx. 21% of total volume. Moreover, wood barrel production in China exceeded the figures recorded by the second-largest producer, the United States (3.3M units), twofold. The third position in this ranking was taken by France (2.1M units), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +5.9%. In the other countries, the average annual rates were as follows: the United States (+13.3% per year) and France (-1.3% per year).

Imports

World Imports of Casks, Barrels, Vats, Tubs, And Coopers Products Of Wood

Global wood barrel imports soared to 22M units in 2022, increasing by 49% on 2021 figures. Over the period under review, imports recorded buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wood barrel imports skyrocketed to $1.1B in 2022. The total import value increased at an average annual rate of +5.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

In 2022, the United States (9.8M units) was the main importer of casks, barrels, vats, tubs, and coopers products of wood, creating 44% of total imports. The UK (4.2M units) ranks second in terms of the total imports with an 18% share, followed by Ireland (5.6%) and Mexico (5%). The following importers - France (885K units), Japan (825K units), Spain (753K units), Australia (440K units) and China (399K units) - together made up 15% of total imports.

Imports into the United States increased at an average annual rate of +19.5% from 2012 to 2022. At the same time, Mexico (+31.9%), China (+14.5%), Ireland (+11.1%), France (+9.7%), Australia (+8.8%), Spain (+6.5%), Japan (+4.2%) and the UK (+2.3%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in the world, with a CAGR of +31.9% from 2012-2022. From 2012 to 2022, the share of the United States and Mexico increased by +25 and +4.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood barrel importing markets worldwide were the United States ($272M), the UK ($206M) and Spain ($63M), together comprising 48% of global imports. Mexico, France, Japan, Australia, Ireland and China lagged somewhat behind, together accounting for a further 25%.

In terms of the main importing countries, Mexico, with a CAGR of +31.1%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average wood barrel import price stood at $50 per unit in 2022, declining by -15.8% against the previous year. Overall, the import price showed a noticeable descent. The pace of growth appeared the most rapid in 2014 when the average import price increased by 3.8%. As a result, import price reached the peak level of $76 per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($111 per unit), while the United States ($28 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Casks, Barrels, Vats, Tubs, And Coopers Products Of Wood

For the third year in a row, the global market recorded growth in shipments abroad of casks, barrels, vats, tubs, and coopers products of wood, which increased by 53% to 15M units in 2022. Over the period under review, exports continue to indicate resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, wood barrel exports skyrocketed to $1.2B in 2022. In general, total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +30.8% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports By Country

The United States represented the largest exporting country with an export of about 8.7M units, which accounted for 58% of total exports. It was distantly followed by France (2.6M units) and Spain (1.3M units), together mixing up a 26% share of total exports. The UK (449K units) took a minor share of total exports.

The United States was also the fastest-growing in terms of the casks, barrels, vats, tubs, and coopers products of wood exports, with a CAGR of +26.0% from 2012 to 2022. At the same time, Spain (+9.0%), the UK (+4.3%) and France (+3.1%) displayed positive paces of growth. The United States (+39 p.p.) significantly strengthened its position in terms of the global exports, while Spain, the UK and France saw its share reduced by -3.5%, -3.5% and -25.1% from 2012 to 2022, respectively.

In value terms, the largest wood barrel supplying countries worldwide were France ($539M), the United States ($306M) and Spain ($146M), together comprising 84% of global exports.

Spain, with a CAGR of +12.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average wood barrel export price amounted to $78 per unit, waning by -22.9% against the previous year. Over the period under review, the export price showed a drastic downturn. The pace of growth appeared the most rapid in 2019 an increase of 4.2%. Over the period under review, the average export prices hit record highs at $145 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($206 per unit), while the UK ($15 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.5%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform