The growth of global beverage industry is one of the major driving factors of the market.
PORTLAND, Ore., Feb. 1, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Reusable Barrels Market by Material (Plastic & Fiber, Wood, and Metal), Process (Recycle and Reuse), and Application (Beverage, Furniture & Home Decor, Fuel & Oil Storage, and Other), And Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031″ According to the report, the global reusable barrels market was valued at $163.7 million in 2021, and is projected to reach $248.8 million by 2031, registering a CAGR of 4.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
Drivers, Restraints, and Opportunities-
Increase in demand for durable beverage storage solutions and growth of beverage industry drives the growth of the market. Furthermore, various advantages of barrels such as cost effectiveness positively influences the market growth. On the other hand, fluctuating prices of raw materials can restraints the growth of the market. However, rising environmental awareness, is anticipated to provide lucrative growth opportunities for the market.
Download Free Sample Report (210 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/47681
- Restrictions on manufacturing activities during the COVID-19 lockdowns, restricted the growth of the reusable barrels market.
- However, growth of food and beverage industry in 2022, has fueled the recovery of the reusable barrels market.
The wood segment is expected to maintain its dominance during the forecast period –
By material, the wood segment held the major share in 2021, holding around two-third of the global reusable barrels market revenue. The plastic and fiber segment is expected to showcase the highest CAGR of 4.8% during the forecast period, attributed to the cost efficiency of plastic and fiber barrels.
The recycle segment held the largest market share during the forecast period-
By process, the recycle segment contributed to the highest share in 2021, accounting for around two-third of the global reusable barrels market revenue. The reuse segment would also showcase the fastest CAGR of 4.3% throughout the forecast period. This is attributed to the extended usability of metal and plastic barrels.
Buy this Research Report @ https://bit.ly/3HJPHwb
The beverage segment is expected to dominate the market during the forecast period-
By application, the beverage segment accounted for nearly half of the global reusable barrels market share in 2021, and is expected to rule the roost by 2031. The furniture and home decor segment would also display the fastest CAGR of 4.3% throughout the forecast period. This is attributed to rising awareness regarding reusing of barrels.
Asia-Pacific garnered the major share in 2021-
By region, Europe garnered the highest share in 2021, accounting for nearly half of the global reusable barrels market revenue in 2021, and is projected to retain its dominance by 2031. The Asia-Pacific region would also portray the fastest CAGR of 5.6% during the forecast period. Rapid growth of food and beverage industry in Asia-Pacific is expected to propel the market growth.
Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/47681
Leading Market Players-
- 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
- Jones Barrel Company
The report analyzes these key players in the global reusable barrels market. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
Trending Reports in Reusable Barrels Industry (Book Now with 10% Discount):
Global metal recycling market is expected to reach $368.7 billion by 2030.
Global smart packaging market is expected to reach $38,662.0 million by 2030.
Global warehouse drums and barrel market is projected to reach $30,132.48 million by 2031.
Global hazmat packaging market is projected to reach $17.2 billion by 2031.
Global beverage packaging market is expected to reach $133.3 billion in 2026.
Flexible Plastic Packaging Market – Global Opportunity Analysis and Industry Forecast, 2021-2031
Barrel Pump Market – Global Opportunity Analysis and Industry Forecast, 2021-2031
Metalized Flexible Packaging Market – Global Opportunity Analysis and Industry Forecast, 2021-2030
Compostable Food service Packaging Market – Global Opportunity Analysis and Industry Forecast: 2021-2030
Food Industry Vacuum Cooling Equipment Market: Global opportunity analysis and industry forecast, 2021-2031
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
SOURCE Allied Market Research