Alcohol ingredients are used in the preparation of alcoholic beverages such as wine, beer, champagne, vodka, rum, etc. Alcoholic beverages are made using fruits, grains, vegetables, and yeast. For instance, yeast reacts with sugar content in food and is therefore converted into alcohol. Flavors and other ingredients are added to the beverage for taste and color. Major factor driving growth of the global alcohol ingredients market is rising demand of alcoholic beverages.
The global alcohol ingredients market report has been segmented on the basis of ingredient type, beverage type, and region. On the basis of ingredient type, the market is segmented into colors, flavors, salts, enzymes, yeast, and others. Flavors are added to the alcoholic beverage to give it certain taste. Increasing consumption of flavored alcoholic beverages is expected to drive the growth of flavors and salt segments in the near future. On the basis of beverage type, the market is segmented into wine, whiskey, beer, distilled spirits, brandy, and others. In terms of revenue, beer segment currently accounts for a major share, due to its high consumption rate among adult population.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, market in Europe dominates the global alcohol ingredients market in terms of revenue, followed by North America. Increasing alcohol beverage consumption among individuals and presence of major wineries are expected to fuel the growth of the market in Europe. North America market accounts for second highest share in terms of revenue and expected to maintain its position in the near future. Asia pacific region is expected to witness fastest growth in terms of revenue over the forecast period, owing to changing lifestyle and increasing number of recreational clubs in this region. In addition, increasing alcohol consuming population is another factor expected to boost growth of the target market in Asia Pacific region.
Key players operating in the global alcohol ingredients market include The Archer Daniels Midland Company, Cargill, Incorporated, Chr. Hansen Holdings A/S, Koninklijke DSM N.V., Sensient Technologies Corporation, Ashland LLC, D.D. Williamson & Co., Inc., Döhler GmbH, Kerry Group plc, and Treatt PLC.