SAN FRANCISCO, June 5, 2019 /PRNewswire/ -- The global alcohol ingredients market size is expected to reach USD 2.71 billion by 2025, registering a CAGR of 8.3%, according to a new report by Grand View Research, Inc. Increasing alcohol consumption across the globe has been fueling the product demand. In addition, rapid urbanization along with the increased adoption of western culture in the developing countries including China, India, Indonesia, and Taiwan is expected to boost the demand for alcoholic beverages, which, in turn, will prompt the utility of ingredients including yeast and enzymes.
Key suggestions from the report:
- Europe held the largest market share in 2018 accounting for more than 35% of the total revenue
- Spirits application segment is expected to register the fastest growth rate of 9.0% over the forecast period
- Flavors & salts product segment held the largest share of the global alcohol ingredients market in the past and is projected to expand at the highest CAGR from 2019 to 2025
- Spirits segment held the largest share in the Asia Pacific market and also accounted for more than 45% of global revenue in 2018
- Key companies in this market include Treatt PLC; DDW; The Color House; AngelYeast Co., Ltd.; Biospringer; Sensient Technologies; Chr. Hansen A/S; The Archer Daniels Midland Company; Kerry, Inc.; Ashland Global Specialty Chemicals, Inc.; and Döhler
Read 300 page research report with TOC on "Alcohol Ingredients Market Size, Share & Trends Analysis Report By Product (Enzymes, Yeast, Colorants, Flavors & Salts), By Application (Beer, Spirits, Wine), By Region (MEA, APAC, North America), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/alcohol-ingredients-market
Flavors & salts product segment held the largest market share in 2018 on account of increased demand for flavored drinks. Major alcoholic beverage companies have expanded their product portfolio in this particular segment. Beer held the largest market share of over 40% in 2018. Health benefits offered by beer along with its low alcohol content have made it a popular drink. Craft beers are expected to witness a significant growth in near future due to growing popularity across the globe. Europe was the dominant regional market in 2018.
Prominent economies of this region include, Germany, U.K., Italy, Spain, Romania, and Belgium. High alcohol consumption levels along with the presence of a large number of alcohol producers has increased the product demand in this region. Asia Pacific is anticipated to be the fastest-growing region at a CAGR of 9.6% from 2019 to 2025. China, India, South Korea, Taiwan, Myanmar, and Thailand are the prominent markets in this region. Rising per capita income and growing number of pubs, bars, and clubs have been driving the product demand in these developing countries.
Grand View Research has segmented the global alcohol ingredients market on the basis of product, application, and region:
- Alcohol Ingredients Product Outlook (Revenue, USD Million, 2015 - 2025)
- Flavors & Salts
- Alcohol Ingredients Application Outlook (Revenue, USD Million, 2015 - 2025)
- Alcohol Ingredients Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- Middle East and Africa
- Central and South America
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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