Europe Alcohol Ingredients Market worth is USD 0.79 billion by 2 021.
Posted by rohan on October 13th, 2017
The Europe Alcohol Ingredients Market was worth USD 0.50 billion in 2016 and expected to be growing at a CAGR of 9.8%, to reach USD 0.79 billion by 2021. Alcoholic beverages are produced by the fermentation of fruit, vegetables or cereals. Alcohol ingredients are majorly used in a variety of food & beverage applications, especially in the production of alcoholic beverages.
Alcohol ingredients such as yeast, flavours & salts, enzymes, colours and other ingredients are extracted from natural sources such as plants, vegetables, and fruits. For example, Wine is made from fermented grape juice or crushed grapes and Beer is produced by fermentation of malted barley or other cereals with the addition of hops.
The major driving force of the Europe market is the rise in alcohol consumption per capita and increase in number of socializing places like bars and pubs. A few restraints in the market include stringent government regulations on liquor manufacturing and selling, health-conscious consumers and high costs of raw materials.
The Europe 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. Spirits are accounting for a major part of market growth in recent times.
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The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. In 2015 Europe dominated the global alcohol ingredients market share as the per capita consumption is the maximum in Europe, with France in the lead, followed by Germany, Spain, Italy and the United Kingdom.
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The alcohol ingredients market is quite competitive because of numerous players operating at the global and local levels. The major 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.).
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About the Authorrohan
Joined: September 20th, 2017
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