Market Overview:
The alcohol industry is growing at an incredible pace, changing consumer preferences and the highly fragmented market have inspired market players to create innovative alcoholic beverages that are brewed, stored and flavored in a variety of ways. Market Research Future has recently released a comprehensive report on the global alcoholic beverage spice & fruit ingredients market. The market is set to grow as the demand for uniquely flavored alcohol increases. A variety of alcoholic beverages such as beer, gin, whiskey, rum, and vodka, amongst others, can be flavored in different combinations to provide unique flavor profiles.
Alcoholic beverages can be flavored using fruits and spices in various forms using a multitude of infusion or flavoring techniques to impart the desired flavor. Vodka is often found flavored with a variety including apple, lemon, orange, raspberry, and others. However, manufacturers have also released unique and unconventional vodka flavors that include bacon, iced cake, dill pickle, cinnamon, and others. Consumer’s preferences are constantly changing which compels the alcohol beverage industry to produce new and creative products which expand market growth. Flavors that offer consumers an experience unlike any they have had before are growing in popularity and spurring further innovation. Some alcoholic beverages such as liqueurs and gin require spices and fruit in the brewing process for proper flavor and authenticity. Additionally, these alcoholic beverages are also uniquely flavored in different combinations to lend distinctive flavor notes. This has been made possible by the technological advancements being made in processing food and beverages, allowing manufacturers to get creative with their offerings.
With convenient food becoming highly popular with consumers, market players are offering pre-mixed flavored alcoholic beverages in a wide variety of special flavors. Rising disposable incomes are another key factor in encouraging the growth of the global alcoholic beverages spice & fruit ingredients market. Availability of disposable income has increased demand for premium flavored beverages. Consistent development of new flavors and increasing demand for alcoholic beverages by a globally massive adult population is expected to offer market expansion opportunities in the future.
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Top Key Players Analysis:
Important market-leading players operating in the global alcohol beverage spice & fruit ingredients market include Martin Mundo OHG, Hainan Nicepal Industry Co. Ltd., Kunming, Sevarome, Huijbregts SL, Kerry Group, Brisan Ingredients, and Treatt.
Latest Industry News:
Tempus Fugit Spirits have just launched a new banana-flavored liqueur called Creme de Banane which is imported by Hotaling & Co.
Pickering’s Gin has launched a gin liqueur which is flavored with pink grapefruit and lemongrass. This Scottish bin company is marketing the drink as the ideal summer drink and includes notes of cardamom and juniper.
Market Segmentation:
The global alcohol beverage spice & fruit ingredients market is segmented on the basis of spice type, fruit type, form, and region. By spice type, the market is segmented into bitter orange peel, cacao nibs, cinnamon sticks, coriander seed, crystallized ginger, grapefruit, juniper berries, and others.
By fruit type, the market is segmented into apple, cherry, raspberry, apricot, and others.
By form, the market is segmented into powder, puree, liquid, and others.
By region, the global market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
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Regional Analysis:
North America and Europe are significant leading regions where there is high consumption of alcohol. The high demand for flavored alcoholic beverages and the presence of many prominent market players in these regions is spurring competition which in turn means innovation in the industry.
The Asia-Pacific market is expected to grow at a rapid pace due to the increasing disposable incomes in rapidly urbanizing emerging economies present in the region. The increased demand for premium alcoholic beverages is expected to boost market growth for the region and subsequently the globe in the coming years.
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