Asia Pacific Alcohol Ingredients Market By Ingredient Type (Enzymes, Yeast, Colorants, Salts And Flavors, And Others), Beverage Type (Beer, Wine, Spirits, Whisky, Brandy, And Others) and By Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC) – Size, Share, Trends, Growth, Forecast (2021 – 2027)
Asia Pacific Alcohol Ingredients Market Growth and Forecast (2022 - 2027):
Asia Pacific Alcohol Ingredients Market was worth USD 0.34 billion in 2021 and expected to be growing at a CAGR of 11.2%, to reach USD 0.58 billion by 2026.
Market Overview:
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.
Drivers and Restraints:
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.
Asia Pacific Alcohol Ingredients Market Segmentation Analysis:
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.
Geographical Analysis:
Geographically the Asia Pacific Alcohol Ingredients Market is segmented into India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia. 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.
Key Players in the market:
Major Key Players in the APAC Alcohol Ingredients Market are
- Chr. Hansen Holdings A/S (Denmark)
- Ashland Inc. (U.S.)
- Sensient Technologies Corporation (U.S.)
- Cargill, Incorporated (U.S.)
- Archer Daniels Midland Company (U.S.)
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