Market Overview
The global alcohol additives market is witnessing an impressive growth over the last few years. The increasing per capita disposable income of the consumers has uplifted the demand for alcoholic beverages at the global level, which in turn has raised the demand for alcohol additives.
Additionally, the rising health-conscious population both in developed and developing economies and growing use of alcohol additives to enhance overall olfactory attributes of fermented beverages is pushing the global alcohol additives market in a positive direction.
Increasing consumption of alcoholic beverages has intensified the use of alcohol additives in the beverage industry. It is experiencing a high demand due to its added olfactory attributes. Growing health concerns among the global population together with the increasing awareness about the benefits of consuming additives are most likely to drive the growth of the alcohol additives market.
Alcohol additives are added to alcoholic beverages to enhance the quality of fermented or distilled beverage products. Additionally, use of flavoring agents in fermented beverages such as wine and beer for enhanced taste has uplifted the demand for global alcohol additives.
Competitive Landscape
The Major Players in the Alcohol Additives Market:
- Döhler GmbH (Germany)
- Hansen Holding A/S (Denmark)
- Cargill Inc. (U.S.)
- Archer-Daniels-Midland Company (U.S.)
- Kerry Group plc (Ireland)
- Sensient Technologies Corporation (U.S.)
- D. Williamson & Co., Inc. (U.S.)
- Koninklijke DSM N.V. (the Netherlands)
- Ashland Global Holdings Inc. (U.S.)
- Angel Yeast Co., Ltd. (China)
Market Segmentation
The global alcohol additives market is segmented into type and application.
On the basis of the type, it is segmented into colorants, flavors, emulsifying and stabilizing agents, antifoaming agents, and others. Among all, the flavors segment is dominating the market. Flavors are added to enhance the taste of fermented beverages which is lost during processing.
On the basis of the application, it is segmented into fermented alcoholic beverages, distilled alcoholic beverages, and others. The fermented alcoholic beverages segment is dominating the market. Increasing consumption of fermented alcoholic beverages such as wines and beers is the key factors responsible for the uplifted demand for alcohol additives.
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Regional Analysis
The global alcohol additives market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The European region is dominating the alcohol additives market followed by the Asia Pacific. Among the European countries, Germany is estimated to account maximum market proportion during the review period owing to increasing consumption of alcoholic beverages which in-turn has uplifted the demand for alcohol additives at a global level.
However, the Asia Pacific region is projected to grow at a considerable rate during the forecast period. Moreover, China is projected to register maximum CAGR during the forecast period in Asia Pacific region
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