Global Alcohol Ingredients Market 2019-2023
Global Alcohol Ingredients Market: About this market
Alcohol ingredients include yeast, enzymes, colors, flavors, malt, barley, and others that are used to produce alcohol products in large quantities in breweries and distilleries or in small scale at home. Technavio’s alcohol ingredients market analysis considers sales from the flavors and salts, colorants, and other segments. These ingredients are used to make beer, spirits, and wine. Our analysis also considers the sales of alcohol ingredients in APAC, Europe, MEA, North America, and South America. In 2018, the flavors and salts segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as growing product launches in response to rising demand for uniquely flavored alcohol products will significantly help the market segment in maintaining its leading position. Also, our global alcohol ingredients report has observed market growth factors such as increasing global alcohol consumption, emergence of breweries and distilleries across the world, and growing popularity of flavored alcohol products. However, campaigns against alcohol consumption, health issues due to alcohol consumption, and stringent regulations may hamper the growth of the alcohol ingredients industry over the forecast period.
Global Alcohol Ingredients Market: Overview
Growing popularity of flavored alcohol products
The popularity of flavored alcohol products is rising. In response to the same, liquor breweries and distilleries are focusing on product innovations such as flavored liquors and unconventional alcohol flavoring agents such as bitters made of insect ingredients, which will help them in increasing sales. As a result, the sales of alcohol ingredients will rise, leading to the expansion of the alcohol ingredients market at a CAGR of almost 10% during the forecast period.
Growing popularity of alcohol made of plant-based ingredients
The rising demand for alcohol products constituting natural ingredients has prompted alcohol producers to introduce new products with plant-based components. This trend has become prevalent owing to the rising awareness of adverse health effects of artificial and animal-based ingredients and additives. Therefore, the trend will have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global alcohol ingredients market during the forecast period 2019-2023, click here.
With the presence of several major players, the global alcohol ingredients market is fragmented. Technavio’s robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading alcohol ingredients manufacturers, which include Archer Daniels Midland Co., DDW The Colour House, Döhler GmbH, Kerry Group Plc, and Treatt Plc.
Also, the alcohol ingredients market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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