Knowledge Sourcing Intelligence announces the publication of a new report on “Alcohol Ingredients Market - Forecasts from 2020 to 2025” to their offering.
Enhanced perception of flavor, premiumization of alcoholic beverages, increased demand for craft beer, high rate of urbanization, the introduction of beverage delivery services among others are expected to lead to robust market growth.
As per the report, the market pertaining to the alcohol ingredients market is expectedto reach US$103.059 billion by 2025, from US$65.502 billion in 2019.
From a regional standpoint, the alcohol ingredients market of the North American region is poised to occupy a substantial space of the global market of alcohol ingredients. This projection is based on the undeterred rate of alcohol consumption in countries like Canada and the United States as well as due to the presence of major players in the market. Also, the recently evolved trend that is obscuring the lines which once demarcated categories within the diverse range of beverages has effectuated in growing investments in product innovation is also expected to result in the expanse of the share of North American alcohol ingredients market. For instance, in December 2019 the Pabst Brewing Company had reportedly launched the Pabst Blue Ribbon hard coffee, which is essentially a malt-based beverage that predominantly constitutes coffee that comprises a blend of Robusta and Arabica beans, alcohol (5% ABV) with 30 mg of caffeine per can, among others. During the same year, it was reportedly announced that Jägermeister would be making a new alcoholic cold brew coffee with 10% caffeine, arabica coffee flavor, and 33% alcohol by volume (ABV), commercially available in January 2020.
Further, in July 2020, Nitro Cold Brew that has been made available in 6.8 fluid ounce cans, was reportedly launched by Pernod Ricard’s Kahlua. This beverage reportedly comprises 4.5 % ABV and Arabica cold brew, among others. Besides, the surge in wine consumption is expected to positively impact the growth of the alcohol ingredients market of North America as well as Europe which to a certain extent is synonymous with wine and spirit culture. Moreover, Regulation (EU) No 1169/2011 of the European Parliament and of the Council comprises the obligations to disseminate information regarding the list of ingredients and nutrition declaration. In view of above certain developments during the past few years which are being elucidated below are expected to positively influence the growth of the European alcohol ingredients market. Buttressed by the rapidly evolving digital technologies and the inclination of consumers to seek information regarding ingredients, the need for providing harmonized and consistent information irrespective of time and place and in the consumers’ language has been the rationale for the following. This also reflects the collective effort of both private and public stakeholders to facilitate an informed buying experience for the consumers which in part is expected to contribute to the growth of the alcohol ingredient market around the world. For instance, in March 2018 a self-regulatory proposal to the Commission was reportedly submitted by the alcoholic beverage industry. Further in June 2019, representatives of the spirits’ industry had signed a Memorandum of Understanding in Paris at the SpiritsEUROPE Annual Congress on the labeling of spirits drinks in which a commitment to provide the energy value on the label and the list of ingredients off label over the following years was made. Besides 4 national associations of the Netherlands, Spain, Poland, and Ireland and six companies have individually signed. Later the same year during July, a letter welcoming the signature of the Memorandum of Understanding to the spirits Industry was sent to encouraging the immediate implementation for the benefit of consumers.
Further in September 2019, the Brewers of Europe and its members comprising Union of Brewers in Bulgaria (UBB), Sveriges Bryggerier AB (Sweden), Slovenské Združenie Výrobcov Piva a Sladu (Slovakia), Panimoliitto (Finland), Nederlandse Brouwers, Magyar Sörgyártók Szövetsége (Hungary), Irish Brewers Association (Ireland), Hellenic Association of Brewers (Greece), Deutscher Brauer-Bund e.V., Cyprus Brewers Association, Croatian Chamber of Commerce Association of beer, malt and hop producers, Confédération des Brasseries et des Brasseurs du Luxembourg (C.B.B.L.), ?eský Svaz Pivovar? a Sladoven (Czech Republic), Cervejeiros de Portugal, Cerveceros de España, Bryggeriforeningen (Denmark), Bryggeri -og Drikkervareforeningen (Norway), Browary Polskie , Brasseurs de France, Bierland Österreich (Verband der Brauereien Österreichs), Association of Slovene Brewers, Assobirra - Associazione dei Birrai e dei Maltatori (Italy), Asociatia Berarii Romaniei, among others have signed a memorandum of Understanding which has been committed through the publication of the document of Brewers’ Ambition 2022 ensuring that by 2022 ingredients and energy information should figure on the label of all pre-pack beer containers made commercially available to consumers in the EU .
As a part of the report, the major players operating in the global alcohol ingredients market, which have been covered are Treatt Plc, Sensient Technologies Corporation, Koninklijke Dsm N.V, Kerry Group PLC, Döhler Group, D.D. Williamson & Co., Inc., Chr. Hansen Holding A/S, Cargill, Incorporated, Ashland Inc., and Archer Daniels Midland Company.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/alcohol-ingredients-market
This report segmented the alcohol ingredients market on the basis following terms