The alcohol ingredients global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Alcohol Ingredients Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The alcohol ingredients market size has grown strongly in recent years. It will grow 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.
The alcohol ingredients market size is expected to see strong growth in the next few years. It will grow to $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. Major trends in the forecast period include climate-adaptive ingredients, customized flavor blends, heritage and regional ingredients, transparency in sourcing, low-alcohol & non-alcoholic options.
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Scope Of Alcohol Ingredients Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Alcohol Ingredients Market Overview
Market Drivers –
The rising consumption of alcohol is significantly contributing to the growth of the alcohol ingredients market going forward. The consumption of alcohol is increasing mainly due to rise in stress, increased availability of alcohol, boredom, and alcohol’s view as socially acceptable. Alcoholic beverage production uses alcoholic ingredients like yeast, enzymes, and colorants. The sort of alcohol found in alcoholic beverages that are for consumption is a substance known as ethanol. As the alcohol consumption increases, it will also create demand for ingredients used in alcohol beverages. For instance, according to American Addiction Centers, a US-based healthcare facilities and services company providing treatment for substance use disorders and mental health disorders, in 2022, Belarus, a tiny landlocked nation in Europe, had the highest average per-capita consumption of pure alcohol. Its residents used 14.4 liters annually on average, more than 1.5 times what Americans did. Therefore, the rising consumption of alcohol is driving the demand for the alcohol ingredient market.
Market Trends –
Ingredient innovations are the key trend gaining popularity in the alcohol ingredients market. Major companies operating in the alcohol ingredients market are involved in ingredient innovations to improve the alcohol fermentation process and increase alcohol yield as well as gain a competitive edge in the market. For instance, in October 2021, Novozymes A/S, a Denmark-based biotechnology company focusing on research, development, and production of industrial enzymes, microorganisms, and biopharmaceutical ingredients launched Innova Quantum yeast. The strong new yeast enables ethanol facilities to achieve higher ethanol yields and processing efficiency even with extended fermentation durations of more than 60 hours. Most significantly, plants may accomplish this industry-leading output without making compromises that endanger their business. Producers can increase ethanol yield by 2-3% with the new yeast, which for a 100MGY plant translates to an additional $1-2 million in revenue. Designed to operate in fermentations for more than 60 hours, Quantum with new strain development is capable of converting the most sugar to ethanol while significantly lowering fermentation by-products such as glycerol up to 40% – all without the trade-off and risk of robustness loss experienced with competing yeasts. And, Quantum expands plant flexibility fermenting to more than 16% w/v ethanol concentrations, while eliminating the need for expensive nutritional supplements.
The alcohol ingredients market covered in this report is 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
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Regional Insights –
Asia-Pacific was the largest region in the alcohol ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global alcohol ingredients market share during the forecast period. The regions covered in the alcohol ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the alcohol ingredients market report are 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
Table of Contents
1. Executive Summary
2. Alcohol Ingredients Market Characteristics
3. Alcohol Ingredients Market Trends And Strategies
4. Alcohol Ingredients Market – Macro Economic Scenario
5. Global Alcohol Ingredients Market Size and Growth
….
31. Global Alcohol Ingredients Market Competitive Benchmarking
32. Global Alcohol Ingredients Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Alcohol Ingredients Market
34. Alcohol Ingredients Market Future Outlook and Potential Analysis
35. Appendix
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