Global Puncheon Barrel Market: Overview
Puncheon barrel refers to a cylindrical container that is utilized for the purpose of storage of liquor, spirit, and wine. These barrels are made from heavy log timbers or split oak wood logs. It is utilized in the form of a fermentation vessel for use by selected cultivars or grapes of small volume. A standard puncheon barrel is usually 500 litres capacity of liquid storage. However, this standard capacity varies from one nation to another. The utilization of puncheon barrel made of oak wood does away with the need to use extra wood plates for stabilization of color of red wines. This reduces the additional cost that is incurred for the production of wine, which is likely to bolster growth of the global puncheon barrel market over the timeframe of analysis, from 2020 to 2030.
In addition, puncheon barrel is considered a hygienic and cost-effective way of liquid storage. In addition, it is made up of recyclable and environment friendly materials. All these benefits of these barrels are likely to foster growth of the global puncheon barrel market over the timeframe of assessment, from 2020 to 2030.
Material, capacity, toast level, hoops, end use, and region are the six important parameters based on which the global puncheon barrel market has been classified.
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Global Puncheon Barrel Market: Notable Developments
One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global puncheon barrel market is mentioned as below:
- In May 2018, A major player in the wine industry, Oeneo Group made an acquisition of majority stake in Tonnellerie Millet. The latter is a cooperage owned by a family in Gironde region of France and is known for its craftsmanship in barrel making. With the acquisition, it is expected that Oeneo Group will benefit from the knowledge and expertise of Tonnellerie Millet to expand the diversity of its barrel portfolio in the years to come.
Some of the prominent organizations in the global puncheon barrel market comprise the below-mentioned:
- Canton Cooperage, LLC
- Tonnellerie Millet
- Seguin Moreau Napa Cooperage
- A.P. John Cooperage
- Tonnellerie Radoux
- The Barrel Mill
- East Coast Wood Barrels Corp
Global Puncheon Barrel Market: Key Trends
The global puncheon barrel market is characterized by the presence of the following restraints, drivers, and opportunities.
High Consumption of Wine and Benefits of Puncheon Barrel to Foster Growth of the Market
A medium sized vessel, puncheon barrel, is designed with the replacement of bigger barrels in mind. These barrels need less attention and there is no need for forklift for the purpose of shifting of barrels, which is needed by bigger barrels. The puncheon barrels that are damaged can easily be converted into pulp, which finds use in many other applications. These factors are likely to play an important role in boosting growth of the global puncheon barrel market in the years to come.
Puncheon barrels facilitate quick fermentation of grapes maintaining high quality and aroma of wine, which is likely to trigger growth of the global puncheon barrel market over the timeframe of analysis. Rapid expansion of the liquor and wine manufacturing industries are likely to work in favor of the market. Besides, there has been a rise in the consumption of wine worldwide, thereby driving the demand for puncheon barrels in the forthcoming years.
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Global Puncheon Barrel Market: Geographical Analysis
North America and Europe collectively account for a large chunk of the global puncheon barrel market and the trend is likely to continue in the years to come. High consumption of wine in countries like the UK, Canada, the US, France, the Netherlands, Demark, and other countries of these two regions generate huge demand for different types of barrels, such as puncheon barrels.
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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