Global Alcohol Ingredients Market to be Driven by the Rising Demand for Alcoholic Beverages in the Forecast Period of 2022-2027
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): About USD 2 billion
• Forecast CAGR (2022-2027): 9.60%
• Forecast Market Size (2027): Nearly USD 3.4 billion
The market growth of alcohol ingredients can be attributed to the growing demand for alcoholic beverages like wine and beer owing to evolving consumer trends. The increasing preference for flavoured alcoholic beverages owing to the emerging trend of consuming better-for-you alcoholic drinks is augmenting the growth of the market. With the surging health-consciousness, the demand for alcoholic beverages with low sugar and calories is significantly increasing.
The growing use of innovative alcoholic beverages to enhance the health benefits of alcoholic beverages is also driving the market growth. Furthermore, the rising popularity of hybrid drinks and beverages with low alcohol content are fuelling the growth of the alcohol ingredients industry.
Industry Definition and Major Segments
Alcohol ingredients are materials that are used in the processing of alcohol and the development of alcoholic beverages. They impart colour, texture, aroma, and flavour profile to alcoholic drinks and make them suitable for consumption. Moreover, alcohol ingredients such as enzymes and yeasts are extensively used in the fermentation of alcohols.
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The market, based on ingredient type, is divided into:
• Flavours and Salts
Based on beverage type, the market is classified into:
The regional markets of alcohol ingredients are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The market for alcohol ingredients is being driven by the increasing demand for alcohols with innovative flavours and aromas. The increasing optimisation of innovative yeast and yeast-derived compounds to create new flavours is propelling the growth of the market. As the interest in non-genetically modified (GMO) development techniques like selective breeding is surging, alcoholic beverages with health benefits are increasingly developed.
This, in turn, is expected to drive the market for alcohol ingredients. In addition, the increasing incorporation of innovative yeasts to enhance the cost-effectiveness and reduce the processing time of alcoholic beverages is estimated to provide impetus to the growth of the industry in the coming years.
Key Market Players
The major players in the market are Archer Daniels Midland Company, Cargill, Inc., Koninklijke DSM N.V., Doehler Group SE, Chr. Hansen A/S, Sensient Technologies Corporation, Ashland Global Specialty Chemicals Inc., and DDW, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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