The global alcohol additives market is expected to grow at a CAGR of 8.9% during the forecast period on the back of the growing demand for wine, beer, and spirits in leading economies in Asia Pacific and Europe, according to the latest research report from Market Research Future (MRFR).
Segmentation:
The global alcohol additives market is segmented on the basis of type, application, and region.
On the basis of type, the global alcohol additives market is segmented into colorants, flavors, emulsifying and stabilizing agents, antifoaming agents, and others. Flavors are likely to be the major revenue generators for the alcohol additives industry, thanks to the growing demand for flavor enhancements in traditional manufacturing processes to make up for the loss of certain compounds during production. The growing demand for craft beers in Asia Pacific, Europe, and North America is also likely to be a major driver for alcohol additives that enhance the flavor of the beverages.
On the basis of the application, the alcohol additives market is segmented into fermented alcoholic beverages, distilled alcoholic beverages, and others. Fermented alcoholic beverages, which include beer and wine, are likely to remain the leading revenue generator in the global alcohol additives market over the forecast period.
Competitive Analysis:
Leading key alcohol additives market players are 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.
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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