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(EMAILWIRE.COM, February 12, 2018 ) North America Alcohol Ingredients Market was worth USD 0.35 billion in 2017 and expected to be growing at a CAGR of 9.6%, to reach USD 2.21 billion by 2022. Alcohol ingredients are specialty ingredients used in a variety of food & beverage applications, especially in the production of alcoholic beverages. Alcoholic beverages are produced by the fermentation of fruit, vegetables or cereals.
Alcohol ingredients such as yeast, flavours & salts, enzymes, colours and other ingredients are extracted from natural sources such as plants, vegetables, and fruits. Furthermore, Beer is produced by fermentation of malted barley or other cereals with the addition of hops. Wine is made from fermented grape juice or crushed grapes; fortified wines include additional distilled spirits.
The changing demand patterns of the consumers are a major driving force market. A few restraints in the alcohol industry include strict government regulations on manufacturing and selling liquor, high taxes, and ban on advertisements among others. Health-conscious consumers are a major restraint of the North America Alcohol Ingredients market.
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The alcohol ingredients demand basically depends on the performance quality and legislations imposed by the both local as well as international government on the production of alcohol beverage ingredients and alcohol beverages.
The North America alcohol ingredients market is segmented by ingredient type, beverage type and geography. By the ingredients type, the market is classified into yeasts, enzymes, colorants, salts & flavours and others. Yeast can be additionally categorized into bottom-fermenting and top-fermenting. By beverage type, the market is separated into beer, spirits, wine, whiskey, brandy, others. Further categorisation of spirits includes vodka, rum, scotch, gin, tequila and others. Spirits are accounting for a major part of market growth in recent times.
The North America market has been geographically segmented into segmented into US and Canada. As of 2015, North America faces a slight saturation in the market because of high development in the production of alcohol and also because of deep market access already existing in this region. This has led to a decrease in the relative market share but it continues to grow at a high CAGR.
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The alcohol ingredients market is quite competitive because of numerous players operating at the global and local levels. Some key players in the market are Chr. Hansen Holdings A/S (Denmark), Ashland Inc. (U.S.), Sensient Technologies Corporation (U.S.), Cargill, Incorporated (U.S.) and Archer Daniels Midland Company (U.S.).
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