ALCOHOL INGREDIENTS MARKET: OVERVIEW
The Global Alcohol Ingredients Market was valued at USD 1.50 Billion in 2021. The market is projected to grow USD 15.11 Billion in 2030, at a CAGR of 7.2%. The fermentation process, which is the major way to make alcohol, uses yeast, grains, and fruits. Beer, wine, whiskey, vodka, and other alcoholic drinks are produced using these ingredients. The market for alcohol additives is growing as customers express a growing taste for distinctive and flavored beverages including cocktails, beer, and others. The industry is expanding as a result of producers adding a variety of odd tastes to alcoholic beverages to enhance their flavor and attract customers. One important factor affecting product demand is the growing use of alcohol on a global scale. Developing nations are also fast urbanizing and assimilating western culture, which is promoting market expansion. Examples of these nations include Asia Pacific.
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Due to the COVID-19 pandemic, which is expected to constrain the growth of the market for alcohol components in the near future, major alcohol companies halted investing in expansion. In addition, tariff rises increase costs, which affects alcoholic beverage consumption as well. After the pandemic, consumers have been more concerned with their health and wellbeing, which has caused them to adopt a modernization strategy that comprises reducing their drinking frequency or volume, hence lowering the opportunities for the manufacturers of alcohol components. Pubs, clubs, and restaurants that rely primarily on the sale of alcohol have been negatively impacted by the lockdown and social segregation policies of governments all over the world.
ALCOHOL INGREDIENTS MARKET: TREND
Increasing Number of Pubs and Nightclubs Propel Market Growth
One of the major factors increasing alcohol use globally is the increase of bars and clubs. Another element driving the growth of the market for alcohol components is the increase of small-scale breweries, bars, and eateries that sell alcoholic drinks.
ALCOHOL INGREDIENTS MARKET: DRIVERS
Increasing Demand of Alcohol Consumption Among Millennial Drive Market Growth
The primary factor advancing the brewery business is the rise in demand for alcoholic drinks as a result of alcohol usage. Alcoholism is a common issue that is causing the worldwide industry to grow. Furthermore, drinking has become a status symbol, which can increase the demand for alcohol components internationally. Craft beer consumption and the usage of other flavored spirits have expanded as a result of consumers' desire to try out new alcoholic drinks, which has forced the makers of alcohol components to concentrate on preimmunizing their goods.
Global Alcohol Ingredients Market Report Coverage
|Market Size in 2021:||USD 1.50 Billion|
|Forecast Period 2021-2030 CAGR:||7.2%.|
|2030 Value Projection:||USD 15.11 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||235|
|Tables, Charts & Figures:||79|
|Segments covered:||By Ingredient, By Beverage, By Region , COVID-19 Impact Analysis|
|Companies Covered:||AngelYeast Co., Ltd., Ashland, Biospringer, Cargill, Incorporated, Chr. Hansen Holding A/S, Diageo, Döhler GmbH, DSM, MGP, Sensient Technologies Corporation, Synergy Flavours, ADM, DDW, Inc., Treatt Plc|
|Growth Drivers:||1)Increasing Demand of Alcohol Consumption Among Millennial Drive Market Growth 2) Increased Amount of Taxation is hampering the Market Growth|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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ALCOHOL INGREDIENTS MARKET: RESTRAIN
Increased Amount of Taxation is hampering the Market Growth
Due to differing interstate tax laws, the insurance was unable to fully profit from these favorable ones. The market's growth has also been hindered by consumer demand for healthier substitutes for alcoholic drinks from those seeking low- or no-alcohol beverages.
The global alcohol ingredients market is segmented by Ingredient, Beverage, and Region. Based on the Ingredient, the market is categorized into yeast, enzymes, colorants, flavors & salts & others. Based on Beverage, the market is categorized into beer, spirits, wine, whisky & others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.
MARKET SEGMENTATION: BY REGION
The Global Alcohol Ingredients Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
The Asia Pacific region is expected to dominate the market share owing to the movement in consumer preferences from domestic alcohol toward imported alcohol. Customers in countries like China are drawn to wines made in renowned vineyard regions like Bordeaux due to its well-known heritage and reputation. The demand for foreign wines, cognacs, and whiskies is rising in the region as consumers turn increasingly toward high-end products. But throughout the course of the projected period, Europe is predicted to become the region with the quickest growth. Alcohol consumption is rising in countries like Russia, Germany, France, and the United Kingdom, which is driving the market. The region is also a significant producer of alcoholic drinks. The top three wine-producing countries worldwide are Italy, France, and Spain. The ease with which components are available for the manufacturing of alcohol depends on the region's suitable temperature, soil quality, and terrain, which in turn drives market expansion for alcohol ingredients.
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ALCOHOL INGREDIENTS MARKET: KEY PLAYERS
- AngelYeast Co., Ltd.
- Cargill, Incorporated
- Chr. Hansen Holding A/S
- Döhler GmbH
- Sensient Technologies Corporation
- Synergy Flavours
- DDW, Inc.
- Treatt Plc
ALCOHOL INGREDIENTS MARKET: RECENT DEVELOPMENT
- In July 2022, Diageo announced plans to invest €200 million near Ireland's first purpose-built carbon-neutral brewery, which would produce lagers and ales. The brewery will be erected on a greenfield site in Littleconnell, Newbridge.
- In June 2022, Diageo purchased Vivanda in order to expand the use of FlavorPrint technology across more categories and to offer individualized brand experiences across all channels.
- May 2022, to expand its current product line, Ashland has introduced Polyclar brewbrite granules.
- March 2020, Cargill has given the Belgian government 100 liters of sterilized alcohol so they may make hand sanitizer for the emergency services.
ALCOHOL INGREDIENTS MARKET: REPORT OVERVIEW
The scope of the report includes a detailed study of regional markets for Global Alcohol Ingredients Market. The global alcohol ingredients market is segmented by Ingredient, Beverage, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Alcohol Ingredients Market.
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