Latin America Alcohol Ingredients Market is expected to reach USD 0.26 billion b
Posted by rohan on December 22nd, 2017
Latin America Alcohol Ingredients Market was worth USD 0.17 billion in 2016 and expected to be growing at a CAGR of 9.6%, to reach USD 0.26 billion by 2021. Alcohol ingredients are ingredients used in a variety of food & beverage applications, especially in the production of alcoholic beverages.
Alcoholic beverages are manufactured by the fermentation of fruit, vegetables or cereals. Alcohol ingredients such as yeast, flavours & salts, enzymes, colours and other ingredients are extracted from natural sources such as plants, vegetables, and fruits.
The major driving force of the market is the rise in alcohol consumption in emerging countries due to huge population base, more acceptances of socializing places like bars and pubs and growing consumption of alcohol becoming a new trend among the younger generation. The alcohol ingredients demand essentially 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. The market is restrained by stringent government regulations on manufacturing and selling liquor, high taxes, and ban on advertisements among others. Health-conscious consumers and high costs of raw materials are also a major restraint of the alcohol Ingredients market.
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The Latin-America 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.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. The market is projected to expand in Latin America as the consumer expenditure on these beverages is mounting rapidly. Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia.
1 Ingredient Type
1.5 Salts & Flavors
1.7 Market Attractiveness Analysis, By Ingredient Type
1.8 Market Share Analysis, By Ingredient Type
2 Beverage Type
2.8 Market Attractiveness Analysis, By Beverage Type
2.9 Market Share Analysis, By Beverage Type
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The alcohol ingredients market is quite competitive because of numerous 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.).
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About the Authorrohan
Joined: September 20th, 2017
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