Market Size – USD 1.83 Billion in 2020, Market Growth – at a CAGR of 8.7%, Market Trends –Increasing change in consumer preferences for alcohol
The global alcohol ingredients market is expected to reach a market size of USD 3.54 Billion by 2028 and register a high CAGR during the forecast period, according to a latest report by Reports and Data. Revenue growth of the global alcohol ingredients market is expected to be driven by increasing consumption of alcoholic beverages globally. This increase is facilitated by increase in the number of clubs, bars, and breweries around the globe. The number of bars and pubs is increasing significantly which is leading to increase in alcohol consumption. In addition, increase in experiential alcohol consumption is expected to further propel the market growth over the forecast period.
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Key participants in the market include The Archer-Daniels-Midland Company, Döhler GmbH, Chr Hansen Holding A/S, Cargill, Incorporated, Treatt plc, Kerry Inc., Sensient Technologies Corporation, Ashland Global Specialty Chemicals, Inc., Angel Yeast Co., Ltd., DDW, Inc.
Further key findings in the report suggest
- In June 2020, Hansen Holding A/S has agreed to acquire 100% of UAS Laboratories LLC, a Wisconsin-based B2B company that specializes in clinically validated probiotics. This acquisition of UAS Labs will improve and grow Chr. Hansen’s worldwide microbial platform and Human Health business, and is in line with the company’s strategy of seeking bolt-on acquisitions that align the microbial platform.
- The flavors & salts product segment contributed largest market share in the global alcohol ingredients market. One of the key factors driving the growth of flavors and salts segment is the rising demand for flavored beverages such as flavored beer, whiskey, and wine. Fruit flavor beverages have grown significantly in recent years, gaining more customers.
- Based on application, the beer segment is expected to lead in terms of revenue contribution to the global alcohol ingredients market during the forecast period. Increasing consumer awareness about the advantages of drinking beer is one of the most key factors boosting growth of the segment. Another important factor augmenting growth of the beer segment is the increasing demand for craft beer.
- The alcohol ingredients market in Europe contributed to the largest revenue share in 2020, attributed to the rapid growth of the alcohol industry in the region. The companies present in countries in the region are major producer and exporter of alcoholic beverages, which is expected to boost the market growth in the region over the forecast period.
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For the purpose of this report, Reports and Data has segmented the global alcohol ingredients market on the basis of product, application, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Enzymes
- Flavors & Salts
- Colorants
- Yeast
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Spirits
- Beer
- Wine
- Others
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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Key Points Addressed in the Report:
- A detailed analysis of the global Alcohol Ingredients market through assessment of key market aspects such as technology, product type, application, end-use, and overall industry dynamics.
- Qualitative and quantitative analysis of the market estimation from 2018 to 2028 and CAGR calculation for the forecast period.
- All-inclusive assessment of market dynamics with emphasis on drivers, restraints, opportunities, and limitations.
- Extensive profiling of key companies operating in the market including company overview, financial standing, product offerings, product portfolio, recent product and technological advancement, and business expansion plans.
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