Pune India, Dec. 23, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Alcohol ingredients market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the alcohol ingredients market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the beverages type, ingredient type and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global alcohol ingredients market are Dohler Group, Sensient Technologies Corporation, Kerry Group, MGP Ingredients, Ashland, Cargill Incorporated, Chr. Hansen Holdings A/S among others. To achieve a substantial market share in the worldwide alcohol ingredients market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Ethanol, a kind of alcohol produced by the fermentation of fruits or sugar sources, is a component of alcoholic beverages. Alcohol is frequently consumed for both recreation and rejuvenating. Alcohol drinking should be done in moderation to reduce the risk of issues with the heart and blood pressure. Alcohol producers are placing more emphasis on using natural, organic components that are devoid of fertilisers, inorganic chemicals, etc., which is helping the market expand. In order to maintain their long-term survival on the market, several of the top companies in the alcohol ingredients market have taken a number of crucial strategies, including mergers and acquisitions, joint ventures and partnerships, product innovation, and geographic growth. Additionally, excessive alcohol consumption has detrimental effects on one's health, including head and neck cancers, irregular heartbeats, strokes, and liver cell inflammation, which hinders the growth of the alcoholic beverages industry and consequently restrains the market for alcohol ingredients. Along with the proliferation of online retailers, which make it simple to access products and offer a wide variety of options, there is also a growing trend of microbreweries that place an emphasis on sustainable sourcing and alcohol manufacturing practises, which are predicted to propel the market even further.
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Scope of Alcohol ingredients market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Beverage Type, Ingredients Type and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Dohler Group, Sensient Technologies Corporation, Kerry Group, MGP Ingredients, Ashland, Cargill Incorporated, Chr. Hansen Holdings A/S among others. |
Segmentation Analysis
The beer segment is expected to be the fastest-growing segment in 2021.
The beverage type segment includes whiskey, beer, spirits, wine and others. The beer segment is expected to witness the highest growth rate during the forecast period. Beer is anticipated to have the greatest CAGR throughout the forecast period due to growing knowledge of the health advantages connected with it, as well as its nutritional characteristics that guard against kidney stones and excessive cholesterol levels and stimulate muscle rebuilding.
The yeast segment is expected to be the fastest-growing segment in 2021.
The ingredient type segment includes enzymes, yeast, starch and others. The yeast segment is expected to witness the highest growth rate during the forecast period. Since yeast is a key component in starting the fermentation process in beer, it holds a substantial market share. Saccharomyces cerevisiae, usually referred to as brewer's yeast, is the yeast that is utilised in the fermentation of wine and beer. It produces ethanol from complex carbohydrates, which is widely employed in the alcoholic beverage sector.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the textile fibres include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Europe region witnessed a major share. The use of various alcoholic drinks in Europe as well as the existence of key players in the market both contribute to the growth of the global alcohol ingredients market. Additionally, according to the World Bank, Belarusians consumed 17.1 litres of alcohol per person in 2015, compared to a global average of 6.3 litres.
Country Analysis
- Germany
Germany's alcohol ingredients market size was valued at USD 0.2 billion in 2021 and is expected to reach USD 0.38 billion by 2029, at a CAGR of 8.5% from 2022 to 2029. Natural wines and botanicals used in gin ingredients are in greater demand, which is proof of the rising popularity of healthy lives. The long and hot summer in Germany, combined with the introduction of numerous new goods in popular categories, all contribute to an increase in demand for alcoholic beverages and additives.
- China
China’s alcohol ingredients market size was valued at USD 0.15 billion in 2021 and is expected to reach USD 0.29 billion by 2029, at a CAGR of 8.7% from 2022 to 2029. The market is expanding as a result of a number of factors, including the enormous population base, younger generations' rising alcohol consumption, and rising disposable income.
- India
India's alcohol ingredients market size was valued at USD 0.10 billion in 2021 and is expected to reach USD 0.19 billion by 2029, at a CAGR of 8.9% from 2022 to 2029. Urban drinking habits have developed, increasing the nation's demand for alcoholic drinks. The market for alcoholic ingredients will expand due to the increasing demand for alcoholic beverages in the area.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand for comfortable and stylish clothing among consumers.
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