PUBLISHER: Market Research Future | PRODUCT CODE: 1624244
PUBLISHER: Market Research Future | PRODUCT CODE: 1624244
Americas & Europe Potable Alcohol Market Research Report Data By Source (Grains and Sugarcane and Molasses), By Application (Food & Beverages, Alcoholic Beverages, Flavors and Fragrances, Pharmaceuticals, Cosmetics & Personal Care and Others), By Purity (Less Than 96% Purity, 96% Purity and Above 96% Purity), By Distribution Channel (Store-Based and Non-Store Based), and By Region (North America, Europe, and Latin America) Forecast Till 2032
In 2023, the market size of potable alcohol in the Americas and Europe was estimated to be USD 13,661.84 million. The Potable Alcohol market industry is anticipated to experience a compound annual growth rate (CAGR) of 5.72% from 2024 to 2032, resulting in a total market value of USD 22,542.04 million. The demand for potable alcohol in the Americas and Europe has remained consistently strong as a result of its essential position in the production of alcoholic beverages, its applications in various industrial sectors, and cultural and social traditions. The potable alcohol market is still being driven by the demand for alcoholic beverages such as beer, wine, and spirits in the beverage industry.
The market growth of potable alcohol is anticipated to be bolstered in the coming years because of the increasing consumption of alcohol in various regions of Europe and the Americas.
Market segment insights
The American and European potable alcohol market has been segmented into cereals, sugarcane, and molasses, depending on the source.
The American and European potable alcohol market has been segmented into the following categories: Food & Beverages, Alcoholic Beverages, Flavors and Fragrances, Pharmaceuticals, Cosmetics & Personal Care, and Others. This segmentation is dependent on the application.
Based on purity, the American and European potable alcohol market has been segmented into three categories: less than 96%, 96%, and above 96%.
The American and European potable alcohol market has been segmented into store-based and non-store-based segments based on the distribution channel.
Regional Perspectives
The market is segmented into North America, Europe, and Latin America by region. In 2022, the Europe region held the largest market share of 53.87%, with a market value of USD 7,016.81 million. It is anticipated to experience the highest CAGR of 5.83% during the forecast period. In 2022, the North American region was the second-largest market, with a value of USD 5,644.90 million. It is anticipated to grow at a compound annual growth rate (CAGR) of 4.53%.
The North American region, which encompasses the United States, Canada, and Mexico, contributes a substantial portion to the potable alcohol market in Europe and the Americas. The region is experiencing a shift in consumer preferences for intoxicating beverages because of the continuous evolution of consumer preferences.
The potable alcohol market is significantly influenced by the European region, which encompasses critical countries such as France, the United Kingdom, Germany, Italy, and Spain. Throughout history, wine consumption has been an essential component of French society, and France is renowned for its wine culture.
The Latin American region is on the brink of generating an absolute dollar opportunity valued at USD 183.43 million by 2030, surpassing 2023. It is expected to be valued at 1.51 times its current market value in 2022 by 2030.
Cargill Incorporated (U.S.), Sasma (Netherlands), USA Distillers (U.S.), Ethimex (U.K.), Gulshan Polyols Ltd. (India), Ryssen Alcools (France), IFB Agro Industries Ltd. (India), Euro-Alcohol GmbH (Germany), CropEnergies AG (Germany), Almagest (Bulgaria), and Midwest Renewable Energy, LLC are among the key companies in the Potable Alcohol market.