The global alcoholic ingredients market is expected to witness significant demand over the forecast period A judicious use of specialty ingredients such as yeast, enzymes, colors, flavors and salts bearing extracts of natural sources such as plants, vegetables and fruits in a variety of food and beverages applications constitute the alcohol ingredients market. A growth in alcoholic ingredients market is preceded by an increasing demand for alcoholic beverages with a significantly elevated consumption pattern influencing the alcoholic ingredients market for colorants, yeasts, enzymes and flavors.
Consumption behavior of beer among populace embodies beer to be the largest selling beverage with cider beer, craft beer and beer made from fruit juice proving to beat the market in alcohol ingredients during the forecast period. Segmentation by ingredient type comprises yeasts, enzymes, colors, flavors and salts and others.
Segmentation by beverage type comprises beer, spirits, rum, vodks, whisky, gin, scotch, tequila and brandy and other (RTD ‘S, premixes, cider and perry). On the basis of region, the market is segmented into North America, Europe, Asia Pacific, MEA and Latin America. Europe has been the largest market for alcoholic ingredients by value and volume in 2015, growth being bolstered explicitly due to accompanying market prosperity in alcoholic beverages market. Asia Pacific is slated to be the fastest growing market for alcoholic ingredients in forecast period owing to increasing consumption of alcoholic beverages in developing countries such as India, Australia, Japan and China.
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Being a high- expertise segment, the global alcohol ingredients market is highly fragmented in nature with a number of small and large vendors making their presence felt and competing on various parameters such as price, service, reputation, distribution and promotion and intense rivalry has resulted in Mergers and Acquisitions (M and A) bearing prominence. Leading industry players are adopting a research intensified programme to tap potential in the market by offering a comprehensive portfolio in relation to the beverages industry. As per news article dated Sept 2015, key market players are strengthening their market hold with Sensient Technologies Corporation launching a new production and distribution facility in South Africa to serve customers of Africa and sub-Saharan Africa with more tempting offerings.
An article dated Feb 2016 has to state the importance of innovation in alcoholic beverages underlined by the constituents or largely the alcoholic ingredients. Therefore, vendors are investing heavily in R&D offing to develop a portfolio with innovative flavors. Product differentiation in alcoholic beverages is sought by innovativeness in alcohol ingredients and a means to understand customer preferences to gain a foothold in this thriving liquor industry is envisioned and this novelty in beverages will drive the alcoholic ingredients market in the forecast period. Vendors have experimented with innovative flavors in the market such as peanut butter, jelly, pickle, apple pie and salmon with innovativeness being the key differentiator and adding to the market sentiment. Another befitting example of innovative ingredients added to wine is Gold Arabesque that has 24 carat gold flakes added to the beverage to create a beverage that is soothing to the eye and of therapeutic value. The key industries leading in the market include Sensient Technologies Corporation, Ashland Inc, and Cargill Incorporated, Archer Daniels Midland Company, Chr Hansen A/S, Dohler Group, Koninlijke, D.D Williamson and Company, Kerry group plc, and Treatt plc.
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