According to the business intelligence report titled ‘Global Alcohol Ingredients Market Size study, by Ingredient Type (Yeasts, Enzymes, Colorants, Salts & flavors, and others), Beverage Type (Whiskey, Brandy, Beer, Distilled Spirits, Rum, Vodka, Scotch, Tequila, Gin, Others, Wine, and Others) and Regional Forecasts 2021-2027’, available with Market Study Report, global alcohol ingredients market was evaluated at USD 1.80 billion in 2020 and is speculated to amass USD 3.11 billion by 2027, growing at an annual rate of 8.13% between 2021-2027.
 

Surging consumption of alcoholic drinks, growing spending capacity of individuals, and rising young adult population are key factors spurring global alcohol ingredients market expansion. As per the World Health Organization, an Indian person consumed 6.6 liters of alcohol per year on average in 2020. This number is estimated to reach 7.9 liters by 2025.
 

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For the unaware, alcohol ingredients are mainly used in fermentation of plant-based carbohydrates that are employed in a wide variety of culinary applications as well as manufacturing alcoholic beverages.
 

The report also cites that increasing number of bars, clubs, and breweries, alongside rising demand for craft alcoholic drinks will aid industry growth.
 

While partnerships, launch of new products, and mergers & acquisitions will facilitate market augmentation, rising awareness about ill-effects of alcohol consumption is poised to act as a challenge.
 

Based on ingredient type, worldwide alcohol ingredients industry is divided into yeasts, colorants, salts & flavors, enzymes, and others. Speaking of beverage type, the business sphere is bifurcated into whiskey, beer, brandy, distilled spirits, vodka, rum, tequila, scotch, wine, gin, and others.
 

Regionally speaking, Europe captured majority of worldwide alcohol ingredients market share in recent past, owing to presence of leading companies, and high consumption of alcoholic drinks. Meanwhile, Asia Pacific market is estimated to witness fast paced expansion through 2027, due to urbanization, growing disposable income, and rising number of clubs, bars, and restaurants.
 

Key players profiled in the report are Kerry Group plc, Synergy Flavors Inc., D.D. Williamson & Co. Inc. (DDW, The Color House), Chr Hansen Holding A/S, Angel Yeast Co. Ltd., Ashland Global Specialty Chemicals Inc., Cargill Inc., Döhler GmbH, Sensient Technologies Corporation, and Archer Daniels Midland Company.