White Oak Alternatives Market: Introduction
Transparency Market Research delivers key insights for the white oak alternatives market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2021-2029. In terms of growth, the global white oak alternatives market is projected to witness growth of 6.8% by the end of 2029, owing to the increasing demand of alcoholic beverages, about which TMR offers detailed insights and forecasts in the white oak alternatives market report.
Global consumers of alcoholic beverages have shown an inclination towards flavorful, lasting drinks, along with refreshing flavors. Furthermore, an increasing consumer knowledge about the production quality is raising the demand for premium alcoholic beverages. Premiumization can be attained through betterment of taste and aroma of the alcohol. Thus, white oak alternatives are anticipated to gain traction in the years to come by being a cost effective and environment-friendly solution to ferment alcoholic drinks.
Increasing Consumption of Wine and Contemporary Tastes Creating Opportunities for White Oak Alternatives Manufacturers
Wine is considered one of the significant segments of the globally consumable alcoholic drinks. France, Italy, Germany, the U.S., and China cumulatively contribute around half of the world’s wine consumption. The white oak alternatives market has become mature in North America due to strong sales in the U.S. However, Asia Pacific is expected to witness rapid growth during the forecast period. The reason for the same is rising number of wine producers in countries such as India, China & Japan. China’s vineyards have witnessed double domestic production between 2006 and 2016. The demand for premium wines is due to the adoption of western lifestyle and improvised standard of living in the region. This is anticipated to have a predominant impact on the demand of white oak alternatives in the region.
Moreover, the popularity of wine has increased due to wine tourism and special programs focused on the presentation of wine areas and variety of wines, which have wine tasting activities. Moreover, the popularity of wine is also influenced by the health recommendation of physicians attributing to the health benefits of consuming wine in specific quantity.
Preference for Fermented Wine in Oak Barrels to Hinder Market Growth of White Oak Alternatives
For many years, traditional winemakers and wine drinkers strongly opposed the use of oak in winemaking in any form except a fully finished barrel due to the belief that oak chips can attempt to replicate the infusion but not as oak barrels. Oak barrels allow for oxygen to enter the barrel, which leads to micro-oxygenation giving the wine a unique taste, mouth feel, and aroma.
Within Europe, for several years, the use of oak chips had been strictly forbidden due to the traditions of making and using oak barrels. However, now this prohibition has been abandoned following the advice of scientists from International Organization of Vine and Wine. Concerns of winemakers with the adaption of oak alternatives is that the globalization of winemaking techniques might lead to loss of regional wine making styles. This might restrain the market growth of white oak alternatives.
White Oak Alternatives Market: Competition Landscape
The global white oak alternatives market is highly fragmented in nature into which, larger portion of market share is held by domestic market players. Some of the key players operating in the global white oak alternatives market are Suber Oak International, Speyside Bourbon Cooperage,Inc., Protéa France, Oak Chips, Inc., G3 Enterprises, Inc., J. RETTENMAIER & SÖHNE GmbH + Co KG, Bouchard Cooperages, Innerstave, Gusmer Enterprises, Inc., Canadell SAS, The Barrel Mill® and The Vintner Vault.
The tier structure is formulated on the basis of segmental revenue and market share of the company. As per tier structure, players G3 Enterprises, J. RETTENMAIER & SÖHNE GmbH + Co KG, and Canadell SAS are the tier 1 players in the white oak alternatives market. These players characterized by high production capacity and wide product portfolio. Tier 2 players include Suber Oak International, Speyside Bourbon Cooperage, Inc., and Oak Chips, Inc, among others.
Global White Oak Alternatives Market Segmentation
White Oak Alternatives Market by Product Type
- Oak Staves
- Oak Chips
- Oak Cubes
- Oak Spiral
- Oak Powder
White Oak Alternatives Market by End Use
- Other Alcoholic Beverages
White Oak Alternatives Market by Region
- North America
- Latin America
- Asia Pacific
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