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Alcohol Ingredients Market Latest, Segments Analysis and Opportunities 2022-2030 | The Color House, Sensient Technologies

The global alcohol ingredient market is forecast to grow to US$ 7.1 billion by 2030, registering a compound annual growth rate (CAGR) of 8.8% during the forecast period from 2022 to 2030.

New York (United states):- Report Ocean publicize new report on the Alcohol Ingredients Market. The Alcohol Ingredients Market report contains numerous information about factors, such as market restraints, drivers, and opportunities. In addition, the report provides an in-depth review of industry developments and trends in the market that are influencing the Alcohol Ingredients Market growth. Additionally, the database analyzes and estimates the Alcohol Ingredients Market both globally and regionally.

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The global alcohol ingredients market size was US$ 1.9 billion in 2021. The global alcohol ingredient market is forecast to grow to US$ 7.1 billion by 2030, registering a compound annual growth rate (CAGR) of 8.8% during the forecast period from 2022 to 2030.

Factors Influencing the Market

Rising consumption of alcohol is the primary factor driving the growth of the alcohol ingredient market. The consumption of alcoholic beverages is increasing globally. In addition, the manufacturing of classic alcoholic drinks is forecast to benefit the market. Furthermore, the growing popularity of alcoholic drinks among youth will propel the market growth during the study period.

The growing establishment of pubs, hotels, restaurants, and bars is driving the growth of the global alcohol ingredients industry. Rising disposable income and the changing lifestyle of the population are the other factors contributing to the growth of the market.

Anti-alcohol campaigns may act as a significant challenge in market growth.

Regional Analysis

The global alcohol ingredients market is forecast to witness considerable growth in Europe. The region’s growth is attributed to the rising demand for alcoholic beverages. In addition, the growing production of alcoholic beverages in the region is driving the regional market growth. Europe accounts for around 50% of the global wine production. In addition, the region is home to various prominent players, such as Treatt Plc, Biospringer, Chr. Hansen A/S, etc. Thus, it will contribute to the revenue generation of the market.

Asia-Pacific alcohol ingredients market is forecast to grow rapidly due to the increasing purchasing power of the population. In addition, the presence of emerging economies, such as China, India, South Korea, Taiwan, Myanmar, Indonesia, Thailand, and the Philippines, and the growing population in this region will benefit the regional market for alcohol beverages.

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COVID-19 Impact Analysis

The hospitality segment suffered significant losses during the COVID-19 pandemic. Due to the growing spread of the virus, governments of many countries imposed lockdown and other restrictions. They also banned public gatherings and other events. Pubs, hotels, and other places had to close their doors or operate for a limited time as per government regulations. Thus, the trade of alcoholic beverages declined drastically, which hampered the overall alcohol ingredients market.

During the pandemic, the production capacity of alcoholic beverages also declined steeply. Companies had to halt operations to prevent the labor from the virus transmission. In addition, the demand for alcoholic beverages also decreased drastically, which hampered the revenue contribution of the companies. In addition, the bans on international trade further impacted the global alcohol ingredients market.

Competitors in the Market

Brightcove

Treatt Plc

Biospringer

AngelYeast Co., Ltd.

Chr. Hansen A/S

DDW

The Color House

Sensient Technologies

The Archer Daniels Midland Company

Dohler

Kerry, Inc.

Other Prominent Players

Market Segmentation

The global alcohol ingredients market segmentation focuses on Product, Application, and Region.

Product outlook

Yeast

Enzymes

Colorants

Flavors & Salts

Others

Application Outlook

Beer

Spirits

Wine

Others

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Regional Outlook

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

Key questions answered in the Alcohol Ingredients Market report are:

How does a global company acquire markets?

What are its core strategies and policies?

What factors will influence the Alcohol Ingredients Market over the forecast period?

What are the factors driving and restraining the market for Alcohol Ingredients Market?

What are the leading competitors in the global market?

Which region is growing at a higher pace in the global market?

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