This market study report includes a detailed segmentation of the global alcohol ingredients market by ingredient type (flavors and salts, colorants, and others) and by beverage type (beer, spirits, and wine). It also outlines the market shares for key regions like APAC, Europe, North America, and ROW. The leading vendors analyzed in this report are ADM, Ashland, Chr. Hansen, Dohler, Kerry, and Sensient.
Technavio’s market research analysts estimate the global alcohol ingredients market to grow at a CAGR of 10% by 2020. Increase in the demand for alcoholic beverages will help to bolster the need for alcohol ingredients like yeast, enzymes, flavors, and colorants during the forecast period. The European region is the largest revenue contributing region to the alcohol ingredients market worldwide, occupying 36% of the total market share. Since Europe is the largest market for alcoholic beverages, the need for alcoholic ingredients for the manufacture of such beverages will also increase during the estimated period.
The new market research report from Technavio provides a breakdown and analysis of the alcohol ingredients segments by technology.
“Vendors are coming up with unconventional flavors such as peanut butter and jelly, salmon, pickle, and apple pie, considering the changing taste preference of consumers. The market is also expected to witness rise in the demand for flavored alcoholic drinks, including flavored vodka, malt beverages, and RTD beverages during the forecast period. Smirnoff’s apple, pineapple, and coconut flavored vodkas are the most popular flavored alcoholic drinks in the market. Of late, the manufacturers are also experimenting with mango and berries and green tea flavors in beers,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
Technavio market research analysts have estimated the flavors and salts segment to account for a market share of more than 56% by 2020. Flavors, which can be natural or artificial, are added to beverages to compensate for any loss of taste during food processing. Flavored alcoholic beverages including spirits, wines, and beers are gaining popularity across population demographics. Consequently, they are becoming an integral part of the alcoholic beverages sector.
The key vendors in the global alcohol ingredients market include ADM, Ashland, Chr. Hansen, Dohler, Kerry, and Sensient. The market is highly fragmented owing to the presence of numerous small and large vendors. These vendors compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion to gain maximum market traction during the forecast period. Intense competition in this market has resulted in the growing number of mergers and acquisitions, wherein smaller entities are being acquired by major players.
A more detailed analysis is available in the Technavio report, Global Alcohol Ingredients Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
