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Alcohol Ingredients Market Value Chain And Stakeholder Analysis
The primary factor driving the alcohol ingredients market is the rise in the global consumption of alcoholic beverages which is in direct relation to the traditions and cultures followed by the population all around the globe. Alcohol ingredients are prepared by extraction of yeast, enzymes, colors, and flavors from natural sources such as plants, vegetables, and fruits. Alcohol ingredients are used in a wide range of beverage applications, especially in the production of alcoholic beverages.
The worldwide demand for alcohol ingredients is on the rise, particularly in the beverage industry. The demand is governed by the performance quality, their incorporation in beverage applications, and regulations imposed by international and local governments in the production of alcohol ingredients and alcoholic beverages.
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The rise in the global consumption of alcohol, especially in developing regions such as Asia-Pacific drives the market for alcohol ingredients. This has resulted in increasing focus of key alcohol manufacturers to provide better functional ingredients by development in the production processes for alcohol ingredients and favorable functionalities of alcohol ingredients in various beverage applications. This will influence the alcohol ingredients market size.
The alcohol ingredients market is segmented on the basis of beverage type into beer, spirits, wine, whisky, brandy, and others which include RTDs, premixes, cider, and perry.
The market is segmented on the basis of ingredient type into yeast; enzymes; colors, flavors & salts; and others which include spices, palm, and supplements. On the basis of type, the spirits segment is further classified into vodka, rum, scotch, gin, tequila, and other spirits. The market is also segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW); and has been further segmented on the basis of their key countries.
The market for alcohol ingredients is projected to reach USD 1.8 Billion by 2020 at a CAGR of 9.4% from 2015 to 2020 in terms of value. with the increasing use of alcohol ingredients in different beverage applications and rising opportunities in emerging markets such as Japan, India, China, and Latin American countries.
The alcohol ingredients market is fragmented and competitive, with a large number of players operating at regional and local levels. The key players in the market adopted new product development, acquisitions, and expansions as their preferred strategies. The key players such as Cargill, Incorporated (U.S.), Sensient Technologies Corporation (U.S.), Archer Daniels Midland Company (U.S.), Ashland Inc. (U.S.), and Chr. Hansen A/S (Denmark) have been profiled in the report.
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