Alcohol Based Flavors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
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- Flavor and Fragrance
Alcohol-based flavors are those type of flavor which contains alcohol in some amount. In alcohol-based flavor, alcohol acts as a carrier where another flavor is blended in it. Mostly, the alcohol-based flavors are used in the bakery & dessert products such as cakes, biscuits, rum balls etc. The alcohol-based flavors and concentrates are predominantly used in chocolate pralines and are used to flavor chocolates, cakes and in the fine bakery. The alcohol-based flavors are also known as spirits and distillates and are less viscose than alcohol-based concentrates.
The alcohol-based flavors product market is segmented on the basis of flavor, end user, and region. On the basis of flavor the market is segmented into the classic flavor, fruit flavor, spice, and herbs flavor and others. Among all these segment fruit flavors is expected to grow enormously in the coming future, followed by the classic flavor segment. Moreover, the classic flavor can be sub-segmented into the coffee flavor, chocolate flavor and vanilla flavor, whereas the fruit flavor can be sub-segmented into the lemon flavor, orange flavor, and berry flavor. On the basis of end use the alcohol-based flavors market is segmented into the chocolate industry, bakery industry, food, and beverage industry and others.
Market Regional Outlook:
A regional segment for the market of alcohol-based flavors is divided into five different regions: North America, Latin America, Europe, Asia-Pacific, and MEA. Among these segment, Europe is expected to have the major market share globally, as it is the largest producer and consumer of alcohol-based flavors products. In Asia-Pacific region, the countries like China and Australia are generating the major revenue. While Asia-Pacific region is estimated to account the highest CAGR, owing to a larger consumer base, combined with a higher number of retail outlets than any other region. The Latin America market is expected to grow significantly over the forecast period, but are anticipated to account for a lower growth rate than the Asia-Pacific region, owing to a greater number of emerging economies in Asia-Pacific.
According to the recent past activities in various regions in the world, it can be concluded that consumption of alcohol or alcohol-based products has become an accompaniment for a number of reasons such as celebrations, commiserations, the end of the working day, and others. In many developed regions such as Europe, Canada, the U.S., alcohol is a socially accepted part of their daily life. Younger population of the world is influenced by their peer group or peer thinking, which is a factor driving the growth of the alcohol-based market. Changing lifestyles, an influence of social media and Internet, increasing social parties, adolescents with high social network influence, greater family incomes, and others have easier access to alcoholic drinks and alcoholic products, which is also driving demand for alcohol. Moreover, globally, the gender gap in terms of alcohol consumption is closing as there is increasing acceptance of female drinking in the societal norms. Because of all these factors, people are attracted towards alcohol and alcohol-based products, which is driving the growth of the alcohol-based flavor market and this is expected to continue over the forecast period. According to WHO, in 2015, the worldwide consumption of alcoholic beverages was around 8.13 liters of pure alcohol per person, who were above 15 years of age. The highest consumption level was mostly found in the Northern Hemisphere and also in the areas of Argentina, Australia, and New Zealand. Spending on R&D is increasing, as global alcohol products manufacturers are now facing competition from the regional players. The pace at which new technologies are impacting the food and beverage sector is high, and it has become necessary for manufacturers to increase the speed and scale of their R&D efforts. Many flavor manufacturing companies are shifting their R&D activities away from their headquarters. It is expected that focus on R&D will increase over the forecast period, as companies are expected to offer products that are better than its rivals. Manufacturers of alcohol-based products are also focused on the positioning their brands better, to improve its sales. As manufacturers are focusing towards the research and development of their products, they are innovating new flavors and alcohol-based beverages for consumers.
Market Key Players:
Some of the key players in alcohol based flavors Market are Givaudan SA, Döhler GmbH, Kerry Group plc, Firmenich International SA, Symrise AG, Sensient Flavors International, Inc., and Frutarom Industries Ltd. among others.
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- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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