The Global Alcohol Ingredients Market was worth USD 1.38 billion in 2016 and expected to be growing at a CAGR of 9.9%, to reach USD 2.21 billion by 2021.
Hyderabad, India -- (SBWIRE) -- 02/06/2018 -- The report " Alcohol Ingredients Market by Ingredient Type (Enzymes, Yeast, Colorants, Salts And Flavors, And Others), Beverage Type (Beer, Wine, Spirits, Whisky, Brandy, And Others) And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)", The Alcohol Ingredients market is expected to reach USD 2.21 Billion by 2021 from an estimated USD 1.38 Billion in 2016, at a CAGR of 9.9%. The key factors associated with the growth in the market are increased consumption of alcohol beverages and high acceptance of socializing places like bars & pubs.
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By ingredient type, the salts & flavours segment accounted for the largest share of the market in 2016
On the basis of ingredient type, the Alcohol Ingredients market has been segmented into Enzymes, Yeast, Colorants, Salts and Flavours, And Others. In 2016, the salts & flavours segment accounted for the largest share of the global Alcohol Ingredients market occupying more than 50% of the market share. Salts & Flavours are added to beverages to avoid any loss of taste during processing.
By beverage type, the beer segment accounted for the largest share of the market in 2016
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On the basis of beverage type, the Alcohol Ingredients market has been segmented into Beer, Wine, Spirits, Whisky, Brandy, And Others. In 2016, the beer segment accounted for the largest share of the global Alcohol Ingredients market due to its rise in consumption all around the globe. Spirits are likely to be fastest growing segment during the forecast period.
Europe dominated the market in 2016
Europe accounted for the largest share of the Alcohol Ingredients market in 2016 and is considered to be a potential market. Developing countries with high population growth like Asia Pacific, and Latin America countries are expected to have a high growth rate.
The various players in the Alcohol Ingredients market include Chr. Hansen Holdings A/S (Denmark), Sensient Technologies Corporation (U.S.), Ashland Inc. (U.S.), Archer Daniels Midland Company (U.S.) and Cargill, Incorporated (U.S.).
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