(Food-Beverage-News.Com, February 26, 2018 ) Asia Pacific Alcohol Ingredients Market was worth USD 0.28 billion in 2017 and expected to be growing at a CAGR of 11.2%, to reach USD 0.47 billion by 2022. Alcohol ingredients such as yeast, flavours & salts, enzymes, colours and other ingredients are extracted from natural sources such as plants, vegetables, and fruits. Alcohol ingredients are used in a variety of food & beverage applications, especially in the production of alcoholic beverages.
For consideration, Beer is produced by fermentation of malted barley or other cereals with the addition of hops. Wine is made from fermented grape juice or crushed grapes; fortified wines include additional distilled spirits. Alcoholic beverages are produced by the fermentation of fruit, vegetables or cereals.
The major driving force of the market is the rise in alcohol consumption in emerging countries due to huge population base, more acceptance of socializing places like bars and pubs and growing consumption of alcohol becoming a new trend among the younger generation. The alcohol ingredients demand basically depends on the performance quality and legislations imposed by the both local as well as international government on the production of alcohol beverage ingredients and alcohol beverages.
Distribution channel advancement such as online sales, outlets in public places like airport, separate counter for females are a few important driving factors for the market. A few restraints in the Asia-Pacific alcohol market are stringent government regulations on manufacturing and selling liquor, high taxes, and ban on advertisements among others. High costs of raw materials is also among a major restraint of the alcohol Ingredients market in Asia-Pacific.
The Asia-Pacific alcohol ingredients market is segmented by ingredient type, beverage type and geography. By the ingredients type, the market is classified into yeasts, enzymes, colorants, salts & flavours and others. Yeast can be additionally categorized into bottom-fermenting and top-fermenting. By beverage type, the market is separated into beer, spirits, wine, whiskey, brandy, others. Further categorisation of spirits includes vodka, rum, scotch, gin, tequila and others.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia Pacific is one of the most lucrative markets for the growth of alcohol ingredients market and is projected to grow with the highest CAGR of 11.2% the forecast period. Factors such as growing demographics, rising consumer expenditure and emerging economies in countries such as India and China are predicted to lead the growth of the market in this region.
The alcohol ingredients market is pretty competitive because of the presence of many players operating at the global and local levels. Some key players in the market are Chr. Hansen Holdings A/S (Denmark), Ashland Inc. (U.S.), Sensient Technologies Corporation (U.S.), Cargill, Incorporated (U.S.) and Archer Daniels Midland Company (U.S.).
About Market Data Forecast
Market Data Forecast is a well versed market research firm catering solutions in the fields of market research, business intelligence and consulting. With a profound knowledge about the global market activities coupled with a customized approach. We render services in the most gripping markets like healthcare, agriculture and food & Beverages
