Alcohol Ingredients Market Overview
The global alcohol ingredients market size was valued at $1.66 Bn in 2018 and estimated to grow at a CAGR of 8.5% during the forecast period 2019–2024. Alcohol ingredients market growth can be attributed to rising alcohol consumption across the globe. Moreover, rapid urbanization, coupled with the rapid adoption of western culture, is further contributing to the growth of the market.
The report: “Alcohol Ingredients Market – Forecast (2019-2024)”, by IndustryARC covers an in-depth analysis of the following segments of the Alcohol Ingredients Market.
•Flavors & Salts
· In the coming years, craft beers are expected to offer enormous growth potential for the alcohol ingredients market.
· Europe held the largest share by the geography of the global market.
· It is evaluated that Asia Pacific is expected to record the fastest CAGR over the forecast period
Product – Segment Analysis
The alcohol ingredients market is classified by-products into yeast, enzymes, colorants and flavors & salts. In 2018, flavors & salts product segment dominated the alcohol ingredients market in terms of revenue and accounted for a share of more than 40% of the global market. One of the most prominent factors aiding the growth of flavors & salts can be attributed to increasing demand for flavored drinks such as flavored beer, whiskey, and wine. In recent years, the expansion of fruit flavor drinks has been drastic, and it has new consumers as well. Coffee, vanilla, citrus, green apple, and cranberry, among others, are some of the popular flavors. Alcohols such as ethanol alcohol, butyl alcohol, and others are prepared by various process and ingredients which includes fermented cereals, barley processing, fruit fermentation, and others.
Application – Segment Analysis
The alcohol ingredients market is segmented by application into spirits, beer, and wine. In 2018, beer held the largest share of the overall market. One of the most prominent factors aiding the segment growth can be attributed to the rising awareness among consumers about the benefits of drinking beer. The rapid growth of the craft beer market is another prominent factor influencing the beer segment growth.
Geography – Segment Analysis
In 2018, Europe accounted for the largest share of the worldwide alcohol ingredients market in terms of revenue. Growth of the Europe alcohol ingredients market can be mainly attributed to the rapid expansion of the alcohol industry in the region. The region is one of the largest producer and exporter of alcohol. In coming years, the Asia-Pacific region is expected to be the fastest-growing market for alcohol ingredients, owing to the increasing consumption of alcoholic beverages, particularly in countries such as India, China, Australia, and Japan among others.
Alcohol Ingredients Industry Outlook
Drivers – Alcohol Ingredients Market
· Rising Alcohol Consumption
The consumption of alcohol is increasing globally. This growth is complemented by the increasing number of clubs, pubs, and breweries across the world. In recent years, there has been a considerable rise in the number of pubs and bars. For instance, in India, pubs, bars, liquor-serving cafes, and lounges (PBCL) have gone up from around 5,300 in 2013 to around 6,700 in 2016.
· Increasing Demand for Craft Beer
The demand for craft beer has increased significantly in recent years. This can be understood from the fact that in the U.S. alone about 1,000 new breweries are expected to open in 2019. Moreover, small and independently owned breweries or craft breweries in the U.S. were making about 5% more beer in the middle of 2018 than the year before. The Asia Pacific is another region that has witnessed a high number of new breweries being set up in recent years.
Challenges – Alcohol Ingredients Market
· Anti-alcohol Campaigns
Anti-alcohol campaigns being run across various countries in the world are expected to offset the growth of the alcohol ingredients market. These campaigns are directed towards showing the harmful effects of consuming alcohol. Moreover, increased taxation on alcohol products is another restraint hampering the alcohol ingredients market growth.
Product development is one of the key strategies adopted by the players in the alcohol ingredients market. The major players in the alcohol ingredients market include AngelYeast Co., Ltd., Treatt Plc, Chr. Hansen A/S, Biospringer, The Color House, The Archer Daniels Midland Company, Sensient Technologies, Ashland Global Specialty Chemicals, Inc. and Döhler; Kerry, Inc. among others. The report provides alcohol ingredients market share analysis wherein the alcohol ingredients top 10 companies have been covered.
Alcohol Ingredients Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the alcohol ingredients market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of products and their specific applications.
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