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.
To request a sample copy or view summary of this report,
click the link below:
https://www.grandviewresearch.com/industry-analysis/alcohol-ingredients-market
https://www.grandviewresearch.com/industry-analysis/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
Alcohol Ingredients Regional Outlook (Revenue, USD
Million, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com