Market Size - USD 1.83 Billion in 2020, Market Growth - at a CAGR of 8.7%, Market Trends - Increasing demand for ready to drink or pre-mixed alcoholic drinks
New York, New York--(Newsfile Corp. - July 13, 2021) - 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. Increasing global alcohol trade is a key factor expected to drive the revenue growth of the global alcohol ingredients market during the forecast period. In addition, rising number of microbreweries is expected to augment the global alcohol ingredients market revenue growth going ahead.
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Pre-mixed or ready to drink alcoholic drinks are becoming more popular as customers desire grab-and-go convenience that fits into their busy and healthful lifestyle, potentially increasing demand for alcohol ingredients. Canned wines, cocktails, and hard seltzers. In addition to beer and soda, are becoming more popular, directly matching with the on-the-go culture. Furthermore, to boost sales, alcohol makers are focused on direct-to-consumer products through online sales. Such factors will continue to increase the possibilities for alcohol ingredients in the coming years. Increasing demand for alcoholic soft drinks is expected to provide growth opportunities for the global alcohol ingredients market over the forecast period. Market competitors are focused on leveraging fruits and vegetable ingredients as companies like Coca-Cola shift into the alcohol business with the introduction of flavored alco-pop and premium mixers.
However, anti-alcohol campaigns are expected to hamper the growth of the alcohol ingredients market in various countries around the world. Such campaigns are focused on demonstrating the negative consequences of using alcohol. Additionally, higher taxes on alcoholic beverages is a major challenge to the growth of the alcohol ingredients market.
Global Alcohol Ingredients Market Size, Share, Trends, By Product (Enzymes, Flavors & Salts, Colorants, Yeast, Others), By Application (Spirits, Beer, Wine, Others), and By Region, Forecasts To 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/alcohol-ingredients-market.
Further key findings in the report suggest
- In March 2019, Florida Chemical Company acquired by The Archer-Daniels-Midland Company (ADM). This acquisition expands ADM's ability to facilitate consumers with citrus tastes by providing the ability to produce flavor ingredients for taste, fragrance, and consumer products across all citrus types.
- The yeast segment is expected to register significant revenue growth over the forecast period due to rising usage of yeast for fermenting alcohol and converting sugar to ethanol and carbon dioxide. On a world basis, rising use of yeast as a raw material in the production of functional drinks including probiotic drinks is projected to enhance yeast utilization in the production of alcoholic beverages, which is expected to boost segment growth.
- Because of the increasing tendency of customers to switch from beer to high-priced spirits, the spirits segment is expected to grow significantly in terms of revenue during the forecast period.
- Alcohol ingredients market revenue in the Asia Pacific is expected to register the fastest CAGR during the forecast period due to rising alcoholic beverage consumption, especially in countries such as China, India, South Korea, and Japan, among others. Consumers in developing countries like China, India, Taiwan, South Korea, Myanmar, the Philippines, Indonesia, and Thailand have higher purchasing power, which is driving market growth in this region.
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.
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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
- North America
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