The global alcohol ingredients market is projected to grow at a significant CAGR of around 8% during the forecast period. The key factors that drive the growth of the global alcohol ingredients industry includes the increased consumption of alcohol across the globe. There has been a significant rise in alcohol consumption across the globe, owing to the rising disposable income, especially in emerging economies. The rising youth population is another crucial factor in creating the demand for alcohol, which in turn, expands the global alcohol ingredients market size.
Browse the full report description of "Global Alcohol Ingredients Market Size, Share & Trends Analysis Report by Ingredient Type (Yeast, Enzyme, Colors; Flavors; & Salts, and Others), By Beverage Type (Beer, Spirits, Wine, and Others), and Forecast, 2020-2026" at https://www.omrglobal.com/industry-reports/alcohol-ingredients-market
The increased demand for alcohol from major countries such as the US, India, and China is driving market growth. The economic development in the countries and increased purchasing power are driving the overall alcohol industry and hence creates demand for alcohol ingredients. Additionally, the consumers are inclining more towards experimenting with novel tastes and drinks. Though health consciousness is on the rise, consumer taste gradually changes. This, in turn, demands for several new alcohol productions, which eventually will drive the growth of the alcohol ingredients market over the forecast period.
The market is driven further driven by a large number of international and local market participants. Archer Daniels Midland Co., Ashland Inc., Bio Springer SA, Cargill Inc., CHR Hansen Holding A/S, Koninklijke DSM N.V, Sensient Technologies Corp., Synergy Flavors Inc., and Treatt PLC are some of the key players contributing to the growth of the market. Alcoholic beverage manufacturers are making efforts for expanding their distribution channels such as online stores, and convenience stores. The introduction of new products in alcoholic beverages is attracting millennial consumers from around the globe.
Global Alcohol Ingredients Market – Segmentation
By IngredientType
By Beverage Type
Global Alcohol Ingredients Market – Segmentation
North America
Europe
Asia-Pacific
Rest of the World