Global Alcohol Ingredients Market Is Estimated To Witness High Growth Due To Increasing Popularity Of Flavoured Alcoholic Beverages And Growing Demand For High-End Spirits

Alcohol Ingredients



Overview:

Alcohol Ingredients are widely used in the production of alcoholic beverages, including beer, wine and spirits. Alcohol is commonly produced through the fermentation of fruits, including grapes. Other alcohol ingredients that are popular include yeast, salts and flavors. Alcohol ingredients are expected to gain market share in the alcoholic beverages industry as consumers opt for higher-quality products and premium brands. Consumers are interested in low-calorie alcoholic drinks. Manufacturers are focusing on product innovation. Manufacturers are looking for collaborations and mergers to expand their businesses. Increased health awareness has pushed consumers to opt for healthier alcoholic drinks. This trend has also increased the demand for pre-mixed alcoholic drinks that can fit into a busy lifestyle.

Market Dynamics:

 Growing expansion by key players is estimated to augment growth of the Global Alcohol Ingredients Market during the forecast period. For instance, a grain merchant from the U. S. Archer-Daniels-Midland Co., declared the opening of a new flavor production factory in China in September 2021. This factory will be manufacturing food and beverages to meet consumer demand. Moreover, anti-alcohol campaigns are anticipated to restrain growth of the global alcohol ingredients market during the forecast period.

Impact of COVID-19:

The pandemic impacted almost all businesses including automobile, electronics, manufacturing, semiconductors and many more. These were mostly affected due to the restrictions imposed by government in various countries for preventing the spread of the virus. These restrictions led to shutting down of manufacturing units as there was a shortage of raw materials in many sectors. Travel bans were also imposed which led to banning export and import activities in many nations. This also affected the growth of many industries. Social distancing rules were also followed, restaurants, and pubs were shut down by government, which affected the Alcohol Market. All these rules hampered the growth of the global alcohol ingredients market.

Key Takeaways:

The Global Alcohol Ingredients Market is expected to witness high growth, exhibiting CAGR of XX% over the forecast period, due to increasing partnerships among major players. For instance, Diageo is planning to invest almost €200 million in Ireland's first purpose-built carbon-neutral brewery in July 2022. This brewery will be established in Littleconnell, Newbridge.

Europe is anticipated to witness significant growth in the global alcohol ingredients market over the forecast period, owing to rapid expansion of the industry and growing product demand.

Major players operating in the Global Alcohol Ingredients Market are Archer Daniels Midland Company, DDW, Inc., Cargill, Inc., Ashland Global Specialty Chemicals Inc., Koninklijke DSM N.V., Sensient Technologies Corporation, Doehler Group SE, and Chr. Hansen A/S.

 

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