Press release
Alcohol Ingredients Global Market 2023 Size, Share, Trends, Demand, Industry Growth and Competitive Outlook 2032
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032The Business Research Company's Alcohol Ingredients Global Market Report 2023 identifies rising consumption of alcohol as the major driver for the Alcohol Ingredients market's growth in the forecast period. The consumption of alcohol is increasing mainly due to rise in stress, increased availability of alcohol, boredom, and alcohol's view as socially acceptable. Alcoholic beverage production uses alcoholic ingredients like yeast, enzymes, and colorants. The sort of alcohol found in alcoholic beverages that are for consumption is a substance known as ethanol. As the alcohol consumption increases, it will also create demand for ingredients used in alcohol beverages.
The global alcohol ingredients market size is expected to grow from $1.87 billion in 2022 to $2.05 billion in 2023 at a compound annual growth rate (CAGR) of 9.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global alcohol ingredients market size is expected to grow to $2.91 billion in 2027 at a CAGR of 9.1%.
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Major competitors in the Alcohol Ingredients market are AngelYeast Co. Ltd., Ashland Global Holdings Inc., Bio Springer SA, Cargill Incorporated, Chr. Hansen Holding A/S, Diageo Plc., Döhler GmbH, Royal DSM N.V., MGP Ingredients Inc
A key trend in the Alcohol Ingredients market includes Ingredient innovations. Major companies operating in the alcohol ingredients market are involved in ingredient innovations to improve the alcohol fermentation process and increase alcohol yield as well as gain a competitive edge in the market. For instance, in October 2021, Novozymes A/S, a Denmark-based biotechnology company focusing on research, development, and production of industrial enzymes, microorganisms, and biopharmaceutical ingredients launched Innova Quantum yeast. The strong new yeast enables ethanol facilities to achieve higher ethanol yields and processing efficiency even with extended fermentation durations of more than 60 hours. Most significantly, plants may accomplish this industry-leading output without making compromises that endanger their business.
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The Alcohol Ingredients market is segmented -
• By Ingredient Type: Colorants, Yeast, Flavors and Salt, Enzymes, Other Ingredient Types
• By Application: Whiskey, Beer, Wine, Brandy, Spirits, Other Applications
• By Distribution Channel: On-Trade Channels, Off-Trade Channels
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Alcohol Ingredients market.
The Business Research Company's "Global Alcohol Ingredients Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Alcohol Ingredients Market Include:
1. Executive Summary
2. Alcohol Ingredients Market Characteristics
3. Alcohol Ingredients Market Trends And Strategies
4. Alcohol Ingredients Market - Macro Economic Scenario
5. Alcohol Ingredients Market Size And Growth
.............................
26. Africa Alcohol Ingredients Market
27. Alcohol Ingredients Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Alcohol Ingredients Market
29. Alcohol Ingredients Market Future Outlook and Potential Analysis
30. Appendix
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