The Global Alcohol Ingredients Market was valued at USD 1.50 Billion in 2021. The market is projected to grow USD 15.11 Billion in 2030, at a CAGR of 7.2%. Asia Pacific is expected to dominate the market share of global alcohol ingredients market owing to the shift in customer preferences from traditional alcohol toward imported alcohol.
New York, United States, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The Global Alcohol Ingredients Market was valued at USD 1.50 Billion in 2021. The market is projected to grow USD 15.11 Billion in 2030, at a CAGR of 7.2%. as per the latest research report by Spherical Insights & Consulting.
The enormous increase in alcoholic beverage consumption worldwide is one of the key factors driving the market for alcohol components. According to Canadian researchers from the Centre for Addiction and Mental Health, since 1990, the amount of alcohol used worldwide has increased by 70%, from 21 billion liters to 35.7 billion liters. Most of the blame for the rise in alcohol use has been placed on the developing economies of Vietnam, China, and India.
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Craft beer has become more and more popular among consumers. The rapid global expansion of craft beer sales has been significantly influenced by the millennial generation. The shift toward craft beer consumption is influenced by a number of variables, including the want for variety, a desire for beer quality and flavor. Craft brewers serve as role models for cooperation, rejuvenation, and innovation. For instance, The Boston Beer Company launched Sam '76, a blend of lager and ale, as part of the development of its Samuel Adams beer brand. a base lager and a base ale, each with a unique yeast strain.
Increasing Number of Pubs and Nightclubs Propel Market Growth
The increased popularity of beer tourism has also contributed to the industry's development. Governments in countries including New Zealand, Australia, China, Mexico, the United Kingdom, and Belgium have sponsored the craft beer industry in an effort to strengthen their economy. Because of the distinctive components that can only be obtained in this region, craft beer, for example, has a substantial market in Wellington, New Zealand.
Increasing Demand of Alcohol Consumption Among Millennial Drive Market Growth
The worldwide alcohol ingredients market is divided into yeast, enzymes, colorants, flavors, and salts, among other categories, based on the ingredient segment. Due to the presence of the fundamental component that powers the whole fermentation process for the production of alcohol, the yeast category accounted for the greatest market share in 2020. Because it aids in maintaining a healthy, balanced digestive system, yeast is also commonly used, which has helped the market for this item grow.
The worldwide alcohol components market is divided into beer, spirits, wine, whiskey, and others based on the beverage sector. Due to the increasing health advantages of beer, which includes ingredients like barley and hops, which are rich in many beneficial elements, beer had the greatest market share in 2020. Beer's antioxidant and bone-building properties are also provided by these ingredients, which has greatly increased consumption.
Report Scope
|
Report Metric |
Details |
|
Market Size 2030 |
USD 15.11 Billion |
|
CAGR |
7.2% (2020-2030) |
|
Historical Data |
2019-2020 |
|
Base Year |
2021 |
|
Forecast Period |
2022-2030 |
|
Forecast Units |
Value (USD Billion) |
|
Segments Covered |
Ingredient, Beverage, COVID-19 Impact Analysis and Region |
|
Report Coverage |
Drivers, Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Geographies Covered |
North America, Europe, Asia-Pacific, Latin America, the Middle East, Africa and Rest of the World |
|
Key Companies Profiled/Vendors |
AngelYeast Co., Ltd., Ashland, Biospringer, Cargill, Incorporated, Chr. Hansen Holding A/S, Diageo, Döhler GmbH, DSM, |
|
Key Market Opportunities |
Increased Amount of Taxation is hampering the Market Growth |
|
Key Market Drivers |
Increasing Demand of Alcohol Consumption Among Millennial Drive Market Growth |
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Key Insights
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The Global Alcohol Ingredients Market was valued at USD 1.50 Billion in 2021. The market is projected to grow USD 15.11 Billion in 2030, at a CAGR of 7.2%.
-
Increasing Demand of Alcohol Consumption Among Millennial Drive Market Growth
-
Due to the increasing health advantages of beer, which includes ingredients like barley and hops, which are rich in many beneficial elements, beer had the greatest market share in 2020.
-
The rapid global expansion of craft beer sales has been significantly influenced by the millennial generation.
-
Geographically, The Asia Pacific region is expected to dominate the market share owing to the movement in consumer preferences from domestic alcohol toward imported alcohol.
COMPETETIVE ANALYSIS
Segmentation of Alcohol Ingredients Market
The worldwide alcohol ingredients market is divided into yeast, enzymes, colorants, flavors, and salts, among other categories, based on the ingredient segment.
By Ingredient
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Yeast
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Enzymes
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Colorants
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Flavors & salts
By Beverage
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Beer
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Spirits
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Wine
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Whisky
Regions Covered of Alcohol Ingredients Market
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TABLE OF CONTENT
Chapter 1. INTRODUCTION
1.1. Study Assumptions and Market Definition
1.2. Scope of the Study
Chapter 2. RESEARCH METHODOLOGY
2.1. Research approach
2.2. Scope, definition, and assumptions
2.3. Data Ingredient
2.3.1. Secondary Ingredient
2.3.1.1. Preliminary data mining
2.3.2. Primary Ingredient
2.3.2.1. Statistical Model
2.3.2.2. Data Triangulation
2.3.2.3. Research Objective
Chapter 3. EXECUTIVE SUMMARY
Chapter 4. MARKET INSIGHT
4.1. Market Overview
4.2. Industry Value Chain Analysis
4.3. Industry Attractiveness - Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitute Products
4.3.5. Intensity of Competitive Rivalry
Chapter 5. ASSESSMENT OF COVID-19 IMPACT ON THE INDUSTRY
Chapter 6. MARKET DYNAMICS
6.1. Market Drivers
6.1.1. Increasing Demand of Alcohol Consumption Among Millennial Drive Market Growth
6.1.2. Increasing Number of Pubs and Nightclubs Propel Market Growth
6.2. Market Restraints
6.2.1. Increased Amount of Taxation is hampering the Market Growth
Chapter 7. MARKET SEGMENTATION
7.1. By Ingredient
7.1.1. Yeast
7.1.2. Enzymes
7.1.3. Colorants
7.1.4. Flavors & salts
7.1.5. Others
7.2. By Beverage
7.2.1. Beer
7.2.2. Spirits
7.2.3. Wine
7.2.4. Whisky
7.2.5. Others
Chapter 8. Global Alcohol Ingredients Market Overview, By Geography, 2017 - 2030(USD Million)
Chapter 9. North America Alcohol Ingredients Market Overview, By Countries, 2017 - 2030(USD Million)
Chapter 10. Europe Alcohol Ingredients Market Overview, By Countries, 2017 - 2030(USD Million)
Chapter 11. Asia Pacific Alcohol Ingredients Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 12. Middle East & Africa Alcohol Ingredients Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 13. South America Alcohol Ingredients Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 14. COMPETITIVE LANDSCAPE
14.1. Company Profiles
14.1.1. AngelYeast Co., Ltd.
14.1.2. Ashland
14.1.3. Biospringer
14.1.4. Cargill, Incorporated
14.1.5. Chr. Hansen Holding A/S
14.1.6. Diageo
14.1.7. Döhler GmbH
14.1.8. DSM
Chapter 15. LIST OF TABLES
Chapter 16. LIST OF FIGURES
Chapter 17. INVESTMENT ANALYSIS
Chapter 18. FUTURE OF THE MARKET
Table of Content and Figure @ https://www.sphericalinsights.com/table-of-contents/alcohol-ingredients-market
Market News
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In July 2022, Diageo announced plans to invest €200 million near Ireland's first purpose-built carbon-neutral brewery, which would produce lagers and ales. The brewery will be erected on a greenfield site in Littleconnell, Newbridge.
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In June 2022, Diageo purchased Vivanda in order to expand the use of FlavorPrint technology across more categories and to offer individualized brand experiences across all channels.
Global Alcohol Ingredients Market Size to grow USD 15.11 Billion by 2030 | CAGR of 7.2%
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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