IMARC Group, a leading market research company, has recently releases report titled “Alcohol Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global alcohol ingredients market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the alcohol ingredients market?
The global alcohol ingredients market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028.
What are alcohol ingredients?
Alcohol ingredients comprise barley, corn, rye, wheat, potatoes, fruit juices, grapes, ethanol, yeast, enzymes, flavorings, colors, sugar, and salt. They are fermented to produce alcoholic beverages, such as wine, cider, beer, and rum. They are also distilled to remove water and create a strong characteristic flavor of alcohol. They are incorporated into the drinks to enhance the overall taste and provide sweetness. They increase the shelf life of the beverages and improve the quality over time by reducing the unpleasant flavors from volatile sulfur compounds during maturation.
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What are the growth prospects and trends in the alcohol ingredients industry?
The increasing demand for alcoholic ingredients to manufacture premium quality beverages represents one of the primary factors influencing the growth of the market. In addition, there is a rise in the marketing and branding of alcohol companies to increase sales and attract a more number of customers. This, along with the increasing number of online brands selling premium quality wines, is propelling the growth of the market. Besides this, the wide availability of affordable alcoholic beverages of good quality and taste around the world is offering a favorable market outlook. Additionally, the rising number of restaurants, pubs, and bars serving cocktails, along with the thriving food and beverage (F&B) industry, is positively influencing the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Ingredient Type:
- Flavors and Salts
- Colorants
- Yeast
- Enzymes
- Others
Breakup by Beverage Type:
- Beer
- Wine
- Whiskey
- Spirits
- Vodka
- Gin
- Rum
- Tequila
- Brandy
- Others
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Archer Daniels Midland Company
- Ashland Inc.
- Cargill Incorporated
- Hansen Holding A/S.
- Williamson & Co., Inc.
- Doehler
- Kerry Group PLC
- Koninklijke DSM N.V.
- Sensient Technologies Corporation.
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