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USA Alcohol Ingredients Market Size, Share, Opportunities, And Trends By Ingredient (Yeast And Enzymes, Colors, Flavors & Salts, Others), By Beverage Type (Beer, Wine, Whiskey, Spirits, Others) - Forecasts From 2020 To 2025

Published: Oct 2020 | Report Code:  KSI061613897 | Pages:  111

 

The USA alcohol ingredients market is projected to grow at a CAGR of 7.61% to reach US$39.666 billion by 2025, falcohol ingredient marketrom US$25.545 billion in 2019. The majority of U.S. adults consume alcoholic beverages.As per USDA ERS reports the constant dollar food and alcohol expenditures, without taxes and tips, for all purchasers updated in June 2020, a total sale in the order of $ 59634.38 million which pertains to Alcohol at home (AAH) was registered during 2019 - an increase from $ 58,922.04 million that was registered during 2018. Included in total sales of 2019, among others, are sales registered by liquor stores which was to the tune of $ 28,433.27 million - an increase from $ 28,025.79 registered during the previous year. Moreover, also included, among others is the amount of $ 16,247.24 million that pertains to sales of alcohol at food stores - an increase from $ 16,060.63 registered during 2018. Further, as far as sales related to Alcohol away from home (AAFH) is concerned the total amount registered during 2019 was $ 35,624.71 million – an increase from $ 34,862.23 million registered during 2018. Included within the figure of 2019 are, among others, the sales registered at eating and drinking places that were to the tune of $ 28,555.67 million – an increase from $ 28,097.65 million registered in 2018 and the sales amounting to $ 3,302.81 million registered at hotels and motels – an increase from $ 3,214.28 million. The evident increase in sales suggests that there is great potential for USA Alcohol Ingredients Market growth during the forecast period.

usa alcohol ingredients market

Nevertheless, nearly half of current drinkers across most age categories report past-month binge drinking, and alcohol consumption accounts for approximately 100,000 deaths annually in the United States. Of all alcohol-attributable deaths, approximately 88,000 are accounted for by excessive drinking; more than twice the number of deaths from excessive drinking occurs among men compared to women. Moreover, an annual cost of $224 billion is incurred by the United States due to excessive alcohol consumption, or approximately $750 per adult annually, or $2 per drink sold. These costs are based on costs to the legal and criminal justice systems, lost productivity, and medically-related costs [ Source: USDA]. Therefore, these ramifications of alcohol consumption, growing awareness of health, as led consumers towards alcohol-free analogs like alcohol-free beer. Further, the health consciousness is expected to augment due to the need for maintaining immunity during the COVID 19 pandemic ad beyond. Therefore, the aforementioned factors are in a certain manner expected to hinder the growth of the USA alcohol ingredient market. Nevertheless, with the demand for low alcoholic beverages, the growing trend of premiumization of spirits as well as wines, and above all, interest on Local products which have been facilitated by travel restrictions and lockdown measures brought about by COVID 19 is expected to drive the USA alcohol ingredient market growth to unprecedented heights during the forecast period.

Segmentation

  • By Ingredient
    • Yeast and Enzymes
    • Colors, flavors & salts
    • Others
  • By Product Type
    • Beer
    • Wine
    • Whiskey
    • Spirits
      • Gin
      • Rum
      • others

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