The global Alcohol Ingredients Market is expected to reach a market size of USD 3,060.7 Million 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.
Increasing consumption of alcoholic beverages globally is one of the major driving factors of the global alcohol ingredients market during the forecast period. Global alcohol consumption is increasing, particularly in the Asia Pacific region. This rising trend indicates economic growth, rising consumer purchasing power, and rising brand building of alcoholic drinks. Increasing global alcohol trade is another factor expected to propel revenue growth of the global alcohol ingredients market in the forthcoming years.
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Key Players:
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; 2020-2028)
- Enzymes
- Flavors Salts
- Colorants
- Yeast
- Others
Application Outlook (Revenue, USD Billion; 2020-2028)
- Spirits
- Beer
- Wine
- Others
Regional Outlook (Revenue, USD Billion; 2020-2028)
- 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 questions answered:
- Which of these regions – North America, Europe, Asia Pacific, Latin America, and Middle East Africa, dominates market share?
- What is the outcome of the COVID-19 Impact Analysis performed in the report?
- What are the revenue estimations for every region in the Alcohol Ingredients market?
- What is the current market valuation of each region and the estimated market size by the end of the forecast period?
- What is the projected growth rate of the global Alcohol Ingredients market?
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