Alcohol beverages are drinks with a considerable amount of ethanol and the content of alcohol varies depending upon the beverage type. The various types of alcohols are beer, spirits, wine, whisky, and brandy and their ingredients are primarily produced from yeast, starch, enzymes, and others. According to new research conducted by the Centre for Addiction and Mental Health, the total volume of alcohol consumed per year increased by as much as 70% between 1990 and 2017 in the middle-income countries especially in Asia-Pacific. This rise in trend can be associated with increase in purchasing power of the consumers, rise in population, economic development, and improved marketing and branding of alcoholic beverages.
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The market is segmented based on ingredient type, beverage type, and region. Based on ingredient type, it is classified into yeast, starch, enzymes and others. Based on beverage type, it is categorized into beer, wine, whiskey, spirits and others. Based on region, it is studied across North America, Asia-Pacific, Europe and LAMEA.
The major players in the alcohol ingredient market include Archer Daniels Midland Company, MGP ingredients, Doehler, Cargill, Incorporated, Sensient Technologies Corporation, Ashland, Kerry Group PLC, Synergy Flavours, and Chr. Hansen Holding A/S.
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However, factors that include government regulations such as making cheap alcohol less available and anti-alcohol campaigns restrain the growth of the alcohol ingredient market. On the contrary, shifting demographics and rise in demand for alcohol in emerging markets as per changing tastes and preferences of consumers, can be viewed as an opportunity for launching innovative products to expand the market base.
Key Benefits of the Report:
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the alcohol ingredients market to elucidate the prevailing opportunities and tap the investment pockets.
- It offers qualitative trends as well as quantitative analysis of the global market to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the type of alcohol ingredients used for various beverages.
- Competitive intelligence of the industry highlights the business practices followed by key players across geographies as well as the prevailing market opportunities.
- Key market players are profiled to understand the competitive outlook of the market.
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