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Alcohol Ingredients Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
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LONDON, GREATER LONDON , UNITED KINGDOM, October 18, 2024 /EINPresswire / -- The alcohol ingredients market has experienced robust growth in recent years, expanding from $2.04 billion in 2023 to $2.24 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to consumer demand for variety, globalization and trade, evolving consumer preferences, regulatory framework, shift in drinking culture.
What Is The Estimated Market Size Of The Global Alcohol Ingredients Market And Its Annual Growth Rate?
The alcohol ingredients market is projected to continue its strong growth, reaching $3.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to functional and nutraceutical ingredients, clean-label and natural ingredients, rising beverage tourism, global economic growth, innovative cocktail culture.
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Growth Driver Of The Alcohol Ingredients Market
The growing bar and pub industry is expected to propel the growth of the alcohol ingredients market going forward. A bar and a pub are both establishments licensed to serve alcoholic beverages, and they have distinct characteristics and services, with pubs often offering a more elaborate food menu and serving as a community focal point. The use of alcohol ingredients in bars and pubs is essential for producing a diverse range of alcoholic beverages that cater to the varying preferences and tastes of consumers.
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Who Are The Leading Competitors In The Alcohol Ingredients Market Share?
Key players in the market include AngelYeast Co. Ltd., Ashland Global Holdings Inc., Bio Springer SA, Cargill Incorporated, Chr. Hansen Holding A/S, Diageo Plc., Döhler GmbH, Royal DSM N.V., MGP Ingredients Inc., Sensient Technologies Corporation, Synergy Flavours, The Archer-Daniels-Midland Company, Treatt Plc., Crystal Pharma, DDW The Color House, Koninklijke DSM N.V., Kerry Group PLC, The Color House, D.D. Williamson & Co. Inc., The Edlong Corporation, International Flavors & Fragrances Inc., Firmenich SA, Givaudan SA, Takasago International Corporation, Mane SA, Robertet SA, Molson Coors Beverage Company, BASF SE, Ajinomoto Co. Inc., Novozymes A/S.
What Are The Dominant Trends In Alcohol Ingredients Market Growth?
Major companies operating in the alcohol ingredients market are focused on adopting strategic partnerships to produce innovative products, such as protein-boosted alcoholic drinks, to gain a competitive edge in the market. Alcohol ingredient companies form strategic partnerships to expand their market reach, enhance their product offerings, and improve their production capabilities.
How Is The Global Alcohol Ingredients Market Segmented?
1) By Ingredient Type: Colorants, Yeast, Flavors and Salt, Enzymes, Other Ingredient Types
2) By Application: Whiskey, Beer, Wine, Brandy, Spirits, Other Applications
3) By Distribution Channel: On-Trade Channels, Off-Trade Channels
Geographical Insights: Asia-Pacific Leading The Alcohol Ingredients Market
Asia-Pacific was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market share during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Alcohol Ingredients Market Definition
Alcohol ingredients are made by extracting yeast, enzymes, colors, and tastes from plants, fruits, and vegetables. Especially in the creation of alcoholic beverages, alcohol components are employed in a variety of beverage applications.
Alcohol Ingredients Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global alcohol ingredients market report covering trends, opportunities, strategies, and more
The Alcohol Ingredients Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on alcohol ingredients market size, alcohol ingredients market drivers and trends, alcohol ingredients market major players and alcohol ingredients market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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