According to the latest report published by Acute Market Reports “Alcohol Ingredients market” – Growth, Future Prospects and Competitive Analysis, 2019-2029,” the Alcohol ingredient market is expected to expand at a CAGR of 9.8 % from 2021 to 2029
A wide range of alcohol ingredients are used in manufacturing alcohol by means of fermentation. The alcohol ingredient market is driven by the alcohol, in terms of sales, revenue generation & demand. Emerging technologies in food & technology sector has resulted in novel variety of wine, beers & whiskey. Research is the key factor for growth in alcohol industry.
Browse the full Alcohol Ingredients Market at https://www.acutemarketreports.com/report/alcohol-ingredients-market
The sales of alcohol declined during pandemic as irregularity in consumer consumption, the consumer access to alcohol was restricted during lockdown to curtail covid 19 infection. False news were carried out to increase the sales after pandemic, this resulted in recovering the sales. The government had an impact on tax collection as major part of tax was collected from alcohol industry. To keep the revenues coming online platforms & home delivery options were made available as many countries considered alcohol as essential.
Ethanol is used extensively as a solvent in the manufacture of varnishes and perfumes as a preservative for biological specimens, in the preparation of essences and flavorings, in many medicines and drugs, as a disinfectant and in tinctures &as a fuel and gasoline additive. The constant demand for alcohol from these sectors tends to generate revenue. Various pubs, lounges & breweries play a vital role in growth of this industry. These locations are made more attractive & comfortable as the market is consumer driven.
North America, Europe, Africa& Asia pacific are the key regions for the growth of this market. Belarus consumes the most alcohol in the world of 14.4 liters per person per year. This is about 48 handles of vodka per person per year. The United States has an annual consumption per person of 8.7 liters of pure alcohol, but consumption varies by state. Tunisia (36.6 liters/year), Eswatini (34.4 liters/year) and Maldives (33.7 liters/year) are the top three countries in alcohol consumption for per person across the globe.
The key players in this industry include Kerry Group plc, Cargill, Archer Daniels Midland Company, Dohler Group SE, KoninklijkeDsm N.V , TreattPlc, Biospringer, AngelYeast Co., Ltd., Chr Hansen A/S, DDW, The Color House, Sensient Technologies & Ashland Global Specialty Chemicals, Inc. The key strategy includes improvements in terms of sustainability benefits& innovation in enzymes & ingredients helps a brewery save thousands of tonnes of CO2 equivalent per annum.
In 2020, during the 146th session of the WHO Executive Board, the Board in its decision EB146 (14) called for accelerated action to reduce the harmful use of alcohol and requested the WHO Director-General, inter alia, to develop an action plan (2022-2030) to effectively implement the Global strategy to reduce the harmful use of alcohol as a public health priority, and to develop a technical report on the harmful use of alcohol.
Key Market Movements:
- Alcohol ingredient market is developing significantly with an expected CAGR of 9.8% from 2021 – 2029.
- Advancement in technology, innovation& research is the key factor for growth.
- Wide range of application drives the market resulting in revenue generation.
- The market trend is dominated by craft breweries.
- The pandemic has negative impact on the alcohol industry.
- North America, Europe, Africa & Asia pacific are the key regions driving the market.
- The key players in this industry include Kerry Group plc, Cargill, Archer Daniels Midland Company, Dohler Group SE, KoninklijkeDsm N.V , TreattPlc, Biospringer, AngelYeast Co., Ltd., Chr Hansen A/S, DDW, The Color House, Sensient Technologies & Ashland Global Specialty Chemicals, Inc.
Alcohol Ingredients Market is segmented into:
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|Application Segment (2019-2029; US$ Mn)|
|Region Segment (2019-2029; US$ Mn)|
|Global Impact of Covid-19 Segment (2020-2021; US$ Mn)|
* Detailed segments are available on the report page
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