Almond Ingredients Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2428 | Last Updated On: Jul 04 2022 | Available Formats

> Global Almond Ingredients Market Expected to reach a high CAGR of 10.40% By 2029: DataM Intelligence

Global Almond Ingredients Market is segmented By Product Type (Whole Almonds, Almond Pieces, Almond Flour, Almond Paste, Almond Milk, Others), By Application (Snacks & Bars, Bakery & Confectionery (Bakery, Confectionery), Milk Substitutes & Ice Creams (Milk Substitutes, Ice Creams), Nut & Seed Butters, RTE Cereals, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Almond Ingredients Market" is predicted to reach at a high CAGR of 10.40% during the forecast period (2022-2029).

Alcohol which is also termed as ethanol or ethyl alcohol is formed by fermentation of yeast, sugar and starches. Other ingredients such as fruits, grains are also used for production of alcoholic beverages such as wine, beer and spirits. The global alcohol ingredients market has grown exponentially in the last few years and this trend is projected to continue following the same trend until 2028. The primary factor driving the global success of alcohol ingredients is the increased consumption of alcoholic beverages across the globe. The consumption of alcohol across the globe has increased a faster pace in the past couple with 235.4 billion liters of alcohol consumed in 2017 (Survey conducted by Banco do Nordeste), which in turn has paved way for the ingredient manufacturers to increase their production facility to meet the burgeoning demand coming for alcoholic beverage industries. Furthermore, growing trade of alcohol worldwide is another factor driving the market growth.

Market Dynamics

Increasing demand for craft beer

The increasing socializing trends, especially among the millennials have increased the visits to the taprooms and brewpubs. This has also led to an increase in the development of small and independent breweries. Thus, breweries are improving beer production to cater to the surging demand of consumers. According to the Brewers Association, small and independent brewers in the U.S produced 26.3 million barrels of beer in 2019, with a volume growth of 4% than the prior year. The craft production in 2019 accounted for 25.2% of the beer retail market in the U.S, which has supported the overall market growth. Moreover, increasing number of clubs, pubs, and breweries has also been boosting the market significantly. Over the past few years, the number of pubs and bars have increased on a global level. From 2014 to 2016, pubs and bars grew by 23.5%. These places have become a common platform for socializing, especially among the millennials. From 2013 to 2016, the number of Pubs, Bars, and Liquor-Serving Cafes and Lounges (PBCL) outlets increased from around 5,300 to 6,700 in India.

With brands such as Coca Cola moving into alcohol space with the launch of flavored alco-pop and premium mixers, market players are focusing on leveraging fruits and vegetable ingredients. A shift away from more conventional drinks to alcoholic soft drinks and malt beverages among consumers looking for beverages with that are lower in alcohol, sugar, and calories is promising new growth opportunities for the key players in the alcohol ingredients market.

However, owing to the stringent government regulations on the consumption as well as on the trade of alcohol and rise in the cost of raw materials are the major factors restraining the market growth. In addition, various anti-alcohol campaigns are expected to remain major restraints for the industry. Over the past few years, these campaigns have increased the health-consciousness in consumers. Moreover, increased amount of taxation and government regulation about the alcohol industry are expected to limit the manufacturing output, which, in turn, will limit the scope of market growth in near future

Market Segmentation

Flavors & Salts segment is expected to be the largest segment with a share of XX% during the forecast period

The global alcohol Ingredients market has been segmented by source into yeast, enzymes, colorants and flavors & salts among others. The flavors & salts segment held the largest share as of 2020. Growing demand for flavored drinks including flavored beer, whisky, and wine is fueling the demand for flavors & salts. Increasing use of fruits as flavor has expanded the portfolio of flavored drinks and attracted new consumers in the past few years. The European countries including France and U.K. are witnessing a significant growth in this segment. Major exporter of the flavored spirits includes Germany, Spain, U.S., Netherlands, and Jamaica. Popular flavors include vanilla, coffee, honey, chocolate, green apple, citrus, watermelon, and raspberry.

Yeast is another important ingredient, which is used for the fermentation of alcohol to convert the sugar into ethanol and carbon dioxide. Increased consumption of yeast as a raw material for the production of functional drinks including probiotics beverages on a global level is expected to affect the availability of yeast for the production of alcoholic beverages.

Geographical Penetration

Asia Pacific is expected to be the fastest growing region in the global alcohol ingredients market

By geography, Asia Pacific is expected to be the fastest growing region in the global alcohol ingredients market, growing with a CAGR of xx% during the forecast period. According to new research conducted by the Centre for Addiction and Mental Health, the total volume of alcohol consumed per year increased by as much as 70% between 1990 and 2017 in the middle-income countries especially in Asia-Pacific. The region holds immense potential for the craft beer market, with robust demand for Westernized craft beer that is blended with local taste and preferences. Shift in consumer preferences from traditional alcohol toward imported alcohol has been one of the driving factors for the growth of the alcoholic beverage market in the region. In countries like China, consumers are inclined toward wines manufactured by famous vineyard regions, such as Bordeaux, owing to renowned heritage and prestige. Whiskies, cognacs, and imported wines are becoming popular across the region as consumers are more inclined toward premium products.

 

Source: DataM Intelligence Analysis (2021)

Competitive Landscape

The global alcohol ingredients market is highly fragmented due to the dominance of several local and global players present in the market. The market exhibits a strong presence of global key players, such as DSM, ADM, Cargill and Döhler Group, alongside other domestic producers. Expansion remained the most adopted strategy among malt ingredient manufacturers, holding a major chunk of total strategies, followed by product innovation, partnership, and merger and acquisition. For instance, in April 2019, Döhler Group, a key player in the alcohol ingredients market, announced the acquisition of majority of the shares of Zumos Catalano Aragoneses S.A. (Zucasa), a producer of cremogenates, juices and concentrates of sweet fruit and vegetables, equipped with modern production facilities. The acquisition aims at expanding the former company’s offer of fruit concentrates, purees, and juices. Moreover, the major players are expanding their production capacities and strategically planning to supplement their export facilities, in order to stand out among other manufacturers in the market. For instance, in February 2020, Novozymes A/S launched next yeast technology, Innova Fit in North America. The product is a non-GMO yeast that eliminates the production constraints of alcohol by the other variants. In March 2019, Archer Daniels Midland announced that it has reached an agreement for the acquisition of the Ziegler Group, a Europe-based natural citrus flavor ingredients provider. The agreement came shortly after ADM added industry-leading citrus capabilities to flavor portfolio with acquisition of Florida Chemical Company.

COVID-19 Impact: The market has been negatively due to closure of non-essential services during pandemic

COVID-19 pandemic has resulted in closure of various pubs, restaurants and taprooms by the governments to maintain social distance norms. This has negatively impacted the global alcohol ingredients market. According to a study by the Brewers Association, the total brewery sales in the U.S went down by 30.5% in May compared to the previous year. Nearly 89% of the brewing companies, either had stopped or slowed down their production, as the Y-o-Y sales had declined in April. However, as the situation of COVID-19 has gradually improved, with lesser restrictions being imposed on foodservice channels, alcohol ingredients market is likely to gain back its elevating consumption levels from this year.

Why Purchase the Report?

  • Understand the current market scenario and viability of global alcohol ingredients over the forecast period
  • Visualize the composition of the global alcohol ingredients market in terms of ingredient type and beverage type to identify major players, growth potential, and market strategies
  • Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
  • Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
  • Excel data sheet with valuable data points of the global alcohol ingredients market – Regional and Country level segmentation
  • Product mapping in excel for the key products of all major market players
  • Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

Target Audience:

  • Alcohol Manufacturers
  • Grain Processing Companies
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals

**The global almond ingredients market report will provide access to approximately 53 market data tables, 44 figures, and 178 pages

Target Audience

  • Industry Investors/Investment Bankers
  • Suppliers/Buyers
  • Education & Research Institutes
  • Manufacturers
  • Research Professionals
  • Emerging Companies
  • Distributors

Trending Topics

Almond Milk Market

Almond Oil Market

Did not find what you were looking for?Every 7 out of 10 customers request tailored reports. Get yours today!
We collate your requirements.
Our global research team is put into action.
We deliver, and make sure your endeavour is a success!

Buy This Report



Note*: For "Bundle/Bulk" Subscription of Reports,
please contact: [email protected]

Get your free sample proposal with a single click!

linkedinpinterest