Alcohol Ingredients Global Market 2024 - Top Manufacturers, Latest Trends, Future Prospects, and Outlook until 2033

The alcohol ingredients market size has grown strongly in recent years. It will grow from $2.04 billion in 2023 to $2.24 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to consumer demand for variety, globalization and trade, evolving consumer preferences, regulatory framework, shift in drinking culture.

The alcohol ingredients market size is expected to see strong growth in the next few years. It will grow to $3.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to functional and nutraceutical ingredients, clean-label and natural ingredients, rising beverage tourism, global economic growth, innovative cocktail culture. Major trends in the forecast period include climate-adaptive ingredients, customized flavor blends, heritage and regional ingredients, transparency in sourcing, low-alcohol & non-alcoholic options.

Market Overview -
Alcohol ingredients are made by extracting yeast, enzymes, colors, and tastes from plants, fruits, and vegetables. Especially in the creation of alcoholic beverages, alcohol components are employed in a variety of beverage applications.

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Increased Alcohol Consumption Fuels Growth In The Alcohol Ingredients Market
The rising consumption of alcohol is significantly contributing to the growth of the alcohol ingredients market going forward. 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. For instance, according to American Addiction Centers, a US-based healthcare facilities and services company providing treatment for substance use disorders and mental health disorders, in 2022, Belarus, a tiny landlocked nation in Europe, had the highest average per-capita consumption of pure alcohol. Its residents used 14.4 liters annually on average, more than 1.5 times what Americans did. Therefore, the rising consumption of alcohol is driving the demand for the alcohol ingredient market.

Competitive Landscape -
Major companies operating in the alcohol ingredients market report 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., Sensient Technologies Corporation, Synergy Flavours, The Archer-Daniels-Midland Company, Treatt Plc., Crystal Pharma, DDW The Color House, Koninklijke DSM N.V., Kerry Group PLC, The Color House, D.D. Williamson & Co. Inc., The Edlong Corporation, International Flavors & Fragrances Inc., Firmenich SA, Givaudan SA, Takasago International Corporation, Mane SA, Robertet SA, Molson Coors Beverage Company, BASF SE, Ajinomoto Co. Inc., Novozymes A/S

Innovative Ingredient Solutions Drive Growth In The Alcohol Ingredients Market
Ingredient innovations are the key trend gaining popularity in the alcohol ingredients market. 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. Producers can increase ethanol yield by 2-3% with the new yeast, which for a 100MGY plant translates to an additional $1-2 million in revenue. Designed to operate in fermentations for more than 60 hours, Quantum with new strain development is capable of converting the most sugar to ethanol while significantly lowering fermentation by-products such as glycerol up to 40% - all without the trade-off and risk of robustness loss experienced with competing yeasts. And, Quantum expands plant flexibility fermenting to more than 16% w/v ethanol concentrations, while eliminating the need for expensive nutritional supplements.

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Key Segments -
The alcohol ingredients market covered in this report is segmented -
1) By Ingredient Type: Colorants, Yeast, Flavors and Salt, Enzymes, Other Ingredient Types
2) By Application: Whiskey, Beer, Wine, Brandy, Spirits, Other Applications
3) By Distribution Channel: On-Trade Channels, Off-Trade Channels

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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