Latin America and the Caribbean: Wood Barrel Market 2025

Wood Barrel Market Size in Latin America and the Caribbean

In 2022, the Latin American wood barrel market increased by 8.5% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Wood Barrel Production in Latin America and the Caribbean

In value terms, wood barrel production declined slightly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 34% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Wood Barrel Exports

Exports in Latin America and the Caribbean

In 2022, the amount of casks, barrels, vats, tubs, and coopers products of wood exported in Latin America and the Caribbean expanded remarkably to X units, surging by 7.3% against the previous year's figure. Overall, exports saw a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 130%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wood barrel exports contracted to $X in 2022. Total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +31.2% against 2019 indices. The growth pace was the most rapid in 2014 when exports increased by 46% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Chile represented the largest exporting country with an export of around X units, which accounted for 57% of total exports. Mexico (X units) ranks second in terms of the total exports with a 15% share, followed by Barbados (9.2%) and Nicaragua (5.8%). Colombia (X units), Guyana (X units) and the Dominican Republic (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wood barrel exports from Chile stood at +4.3%. At the same time, Barbados (+64.4%), Guyana (+38.4%), the Dominican Republic (+13.1%), Mexico (+12.0%), Nicaragua (+3.1%) and Colombia (+2.3%) displayed positive paces of growth. Moreover, Barbados emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +64.4% from 2012-2022. While the share of Barbados (+9.1 p.p.), Nicaragua (+5.8 p.p.), Mexico (+5.3 p.p.) and Guyana (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Colombia (-2.4 p.p.) and Chile (-18.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Chile ($X) remains the largest wood barrel supplier in Latin America and the Caribbean, comprising 80% of total exports. The second position in the ranking was taken by Mexico ($X), with a 12% share of total exports. It was followed by Barbados, with a 1.6% share.

In Chile, wood barrel exports expanded at an average annual rate of +3.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mexico (+10.3% per year) and Barbados (+34.1% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per unit in 2022, shrinking by -14.4% against the previous year. Overall, the export price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2016 an increase of 60% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Chile ($X per unit), while Guyana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nicaragua (+20.2%), while the other leaders experienced more modest paces of growth.

Wood Barrel Imports

Imports in Latin America and the Caribbean

In 2022, approx. X units of casks, barrels, vats, tubs, and coopers products of wood were imported in Latin America and the Caribbean; jumping by 30% on the previous year's figure. In general, imports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 93% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, wood barrel imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 54%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Mexico dominates imports structure, accounting for X units, which was approx. 68% of total imports in 2022. Chile (X units) took the second position in the ranking, followed by the Dominican Republic (X units). All these countries together held near 15% share of total imports. Argentina (X units), Barbados (X units) and Cuba (X units) took a minor share of total imports.

Mexico was also the fastest-growing in terms of the casks, barrels, vats, tubs, and coopers products of wood imports, with a CAGR of +31.9% from 2012 to 2022. At the same time, the Dominican Republic (+19.2%), Cuba (+17.5%), Barbados (+8.1%) and Chile (+1.2%) displayed positive paces of growth. Argentina experienced a relatively flat trend pattern. From 2012 to 2022, the share of Mexico and the Dominican Republic increased by +54 and +2.8 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 in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Argentina ($X), with a combined 85% share of total imports.

Among the main importing countries, Mexico, with a CAGR of +31.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per unit, growing by 2.3% against the previous year. In general, the import price, however, continues to indicate a noticeable contraction. The growth pace was the most rapid in 2020 when the import price increased by 14% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Argentina ($X per unit), while Cuba ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Barbados (+4.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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