Newark, NJ, May 16, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global alcohol ingredients market is expected to grow from USD 1.68 billion in 2019 to USD 3.22 billion by 2027, at a CARG of 8.5% during the forecast period 2020-2027.
Europe is the leading region for alcohol ingredients and the demand is expected to increase in the future because of growth in the beverages manufacturing activities. Also, Europe produces more than half of the world’s wine. North American region is considered as a mature market for alcohol beverages due to increasing food and beverages industries. Asia-Pacific region is expected to have the fastest growth.
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The key players of this market are D.D. Williamson, ADM, Dohler, Kerry, Bio Springer, Treatt, Crystal Pharma, Chr. Hansen, Ashland, Angel Yeast and Biorigin.
Angel Yeast, one of the biggest yeast makers and a biotech solution provider, is banking on its manufacturing facilities in Russia and Egypt to expand its footprint in the overseas markets.
The ingredient types include colorants, yeast, flavors & salt, enzymes and others. Flavors & salt is the dominant in the global market of alcohol ingredients. The application segment includes whiskey, beer, wine, brandy, spirits and others. Beer is the leading type in the global market.
The consumption of alcohol has increased the demand of alcoholic beverages and is the major factor which drives the market. many people are addicted to alcoholic beverages which increases the growth of the global market. Moreover, drinking alcoholic beverages has become a status symbol which may increase the global market of alcohol ingredients.
However, high cost of alcoholic ingredients and the strict government regulations and rules can restrain the market to grow.
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About the report:
The global alcohol ingredients market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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