25-July-2019: The global alcohol
ingredients market size is expected to reach USD 2.71
billion by 2025 registering a CAGR of 8.3%, according to a new report by Grand
View Research, Inc. Increasing alcohol consumption across the globe has been
fueling the product demand. In addition, rapid urbanization along with the
increased adoption of western culture in the developing countries including
China, India, Indonesia, and Taiwan is expected to boost the demand for
alcoholic beverages, which, in turn, will prompt the utility of ingredients
including yeast and enzymes.
Flavors & salts
product segment held the largest market share in 2018 on account of increased
demand for flavored drinks. Major alcoholic beverage companies have expanded
their product portfolio in this particular segment. Beer held the largest
market share of over 40% in 2018. Health benefits offered by beer along with
its low alcohol content have made it a popular drink. Craft beers are expected
to witness a significant growth in near future due to growing popularity across
the globe. Europe was the dominant regional market in 2018.
Prominent economies
of this region include, Germany, U.K., Italy, Spain, Romania, and Belgium. High
alcohol consumption levels along with the presence of a large number of alcohol
producers has increased the product demand in this region. Asia Pacific is
anticipated to be the fastest-growing region at a CAGR of 9.6% from 2019 to
2025. China, India, South Korea, Taiwan, Myanmar, and Thailand are the
prominent markets in this region. Rising per capita income and growing number
of pubs, bars, and clubs have been driving the product demand in these
developing countries.
In
depth research report on Alcohol Ingredients Market
Further key findings from the study suggest:
·
Europe held the largest market share in 2018 accounting for
more than 35% of the total revenue
·
Spirits application segment is expected to register the
fastest growth rate of 9.0% over the forecast period
·
Flavors & salts product segment held the largest share of
the global alcohol ingredients market in the past and is projected to expand at
the highest CAGR from 2019 to 2025
·
Spirits segment held the largest share in the Asia Pacific
market and also accounted for more than 45% of global revenue in 2018
·
Key companies in this market include Treatt PLC; DDW; The
Color House; AngelYeast Co., Ltd.; Biospringer; Sensient Technologies; Chr.
Hansen A/S; The Archer Daniels Midland Company; Kerry, Inc.; Ashland Global
Specialty Chemicals, Inc.; and Döhler
Grand View Research
has segmented the global alcohol ingredients market on the basis of product,
application, and region:
Alcohol Ingredients Product Outlook (Revenue, USD Million,
2015 - 2025)
·
Yeast
·
Enzymes
·
Colorants
·
Flavors & Salts
·
Others
Alcohol Ingredients Application Outlook (Revenue, USD
Million, 2015 - 2025)
·
Beer
·
Spirits
·
Wine
·
Others
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About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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