Market Research Future published a Half-Cooked Research Report on the Global Alcohol Additives Market, which is estimated to grow at a CAGR of 8.9% during the forecast period, 2017-2023.
Global Alcohol Additives Market Analysis has been moving up steadily and is expected to reach a significant valuation over the forecast period of 2017-2023, proclaims Market Research Future (MRFR) in an exhaustive study. Increasing popularity and consumption of alcoholic drinks among the global population has provided a push to the growth of the global alcohol additives market. Alcohol additives are used to enhance flavor, taste, and other olfactory characteristics of alcoholic beverages. Increasing demand for alcohol additives in fermented and distilled alcoholic beverages for improved stability and shelf-life has boosted the growth of the market. The economic outlook continues to improve in a broad spectrum of countries which has raised the per capita disposable income of consumers. With a rise in purchasing power, consumers are more indulgent towards alcoholic beverages which has a positive influence on the growth of the global alcohol additives market. Moreover, manufacturing companies use alcohol additives to achieve innovative concoctions with different flavor profiles that have not yet been popularized in the market which further augments the growth of the market. However, consumers are more health conscious these days and look for exact composition of beverages before purchasing which impacts the global alcohol additives market. It has resulted in a switch towards organic additives which provides opportunities to market players for market consolidation. The FDA has set limitations on the quantity of use certain alcohol additives which might also act as a deterrent to the growth of the global alcohol additives market.
Alcohol Additives Market- Segmentation:
The global alcohol additives market has been segmented based on type and application. By type, the market has been segmented into colorants, flavors, emulsifying and stabilizing agents, antifoaming agents, and others. The flavors segment is dominating the market. By application, the market has been segmented into fermented alcoholic beverages, distilled alcoholic beverages, and others. Alcohol additives find the most application in alcoholic beverages and application-wise, the alcoholic beverages segment is the largest segment.
Alcohol Additives Market- Competitive Analysis:
Leading players in the global alcohol additives market include Angel Yeast Co. Ltd., Ashland Global Holdings Inc., Koninklijke DSM N.V., D.D. Williamson & Co. Inc., Sensient Technologies Corporation, Kerry Group plc, Archer Daniels Midland Company, Cargill Inc., Chr. Hansen Holding A/S, and Döhler GmbH.
Blue wine is the latest innovation in the wine market and includes the use of spirulina, a natural seaweed. However, Imajyne, a Corsican producer of blue wine, has been investigated for the use of E133 instead of spirulina. The use of innovative coloring agents as well as flavorants is likely to be a major factor in the global alcohol additives market’s growth over the forecast period.
Alcohol Additives Market- Regional Analysis:
The global alcohol additives market is dominated by Europe, followed by Asia Pacific. The growing business of beer, wine, as well as spirits in Europe is the major driver for the alcohol additives market in the region. The region is home to longstanding traditions for the production of various alcoholic beverages, including beer, scotch whiskey, wine, and a number of liquors. This has driven the production and commercialization of alcohol additives in the region, leading to steady growth of the market over the historical review period.
The growing demand for wines, beer, and other alcoholic beverages in Europe is likely to be the major driver for the alcohol additives market in the region over the forecast period. Germany is likely to be the major regional segment of the Europe market for alcohol additives, thanks to the growing demand for beer in the region and the presence of several world-renowned beer manufacturers in Germany. The increasing demand for flavored beers and innovations in the same to make beer more attractive to consumers is likely to be a major driver for the alcohol additives market in Europe over the forecast period.
Asia Pacific is the second largest regional market for alcohol additives and is likely to exhibit stellar growth over the forecast period due to the growing demand for alcoholic beverages in the region. Countries such as India, China, Thailand, Australia, and South Korea have emerged as major markets for alcoholic beverages in recent years, driving the demand for alcohol additives to make the drinking more pleasurable for the consumers. Flavor enhancing additives are likely to be in widespread demand in the alcoholic beverage manufacturing industry in Asia Pacific over the forecast period. The increasing presence of alcoholic beverage manufacturers in Australia, China, and India is also likely to be a major driver for the alcohol additives market in Asia Pacific over the forecast period.
North America is also a major market for alcohol additives and is primarily driven by the growing demand for beer, wine, and whiskey and other spirits. Winemaking has emerged as a highly profitable industry in California and the surrounding regions, whereas beer manufacturing has also taken off in the region, with the U.S. alone housing more than 7,000 breweries. The increasing popularity of craft beer in the U.S. and Canada is likely to be a major driver for the alcohol additives market in North America over the forecast period, as craft beers make liberal use of additives for flavor and quality enhancement.
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