Rise in Consumption of Alcoholic Beverages to Boost the Market Growth.

  • Market

As stated in our extensive report, providing insights on ingredient type and beverage type, the Global Alcohol Ingredients Market accounted for USD 1.98 Billion in 2020.

Alcohol refers to an ingredient in the drinks that makes a person drunk. The alcohol substance present in the drinks is known as ethanol which is ethyl alcohol. It is made when yeast ferments the sugars in fruits, grains as well as in vegetables.

The young population globally is rising with the trend of socializing. The number of pubs and bars serving alcoholic beverages has grown extensively driven by the demand generated by the young consumers; proliferation of options coupled with competitive pricing. The consumption pattern has made considerable growth, mainly for the beer market. Factors such as growth in income, growth in beer production, economic liberalization, with rapid growth in trade are factors fueling the market growth.

Moreover, the COVID-19 pandemic has affected almost all industries all over the globe. The alcohol Ingredients have an adverse impact on the pandemic driven by the lockdown and stoppage in commercial activities all over the globe. However, the alcohol ingredients in the market are quickly reaching their gains and are about to have a healthy growth rate. However, unprecedented situations due to covid is about to hinder the market growth.

The consumption of alcoholic beverages is increasing all over the world, mainly in the Asia-Pacific region driven by the increase in the purchasing power of the consumers, economic development. The marketing and branding of alcoholic beverages are done effectively by several big players.

The Asia-Pacific holds a high potential for the craft beer market. The shift in consumer preferences from traditional alcohol to imported one has been a major factor driving the growth of the alcoholic beverage market in the region.

Some of the key players in the alcohol ingredients market are MGP ingredients, Doehler, Archer Daniels Midland Company, Cargill, Incorporated, Ashland, Sensient Technologies Corporation, Kerry Group PLC, Chr. Hansen Holding A/S and Synergy Flavors, among others.