The food grade alcohol market is anticipated to expand at a CAGR of ~7% by 2028, owing to the increase in consumption of alcoholic beverages among younger population at a global level. Food grade alcohol is used in different industries such as food and beverages, pharmaceutical, personal care and others. The rising application across diverse industries is expected to drive the market. The demand for food grade alcohol is likely to rise in the food and beverages industry. The global sales value of food grade alcohol is estimated ~ US$ 3.2 Bn in 2019. Due to wider availability, the demand for food grade ethanol is anticipated to rise, and it’s relatively multiple uses have made it the product of choice among consumers.
Key Takeaways from Food Grade Alcohol Market Study
- The demand for ethanol and polyol as a product of food grade alcohol will increase at a striking CAGR of ~7% and ~6% respectively by the end of 2028.
- The global food grade alcohol market is estimated to be valued at ~US $ 3.2 Bn in the year 2019 and is expected to reach ~US$ 5.8 Bn in 2028.
- As compared to developing regions, the sales value of the food grade alcohol market are foreseen to be higher in countries of the Middle East & Africa and Latin America.
- Certain limitations or adverse effects of food grade alcohol are likely to restrict its market growth in the current scenario.
- Food grade ethanol has long remained the preferred type or primary ingredient for alcoholic beverages and continues to capture substantial share in the new food grade alcohol market space.
- The beverage industry holds extreme potential for food grade alcohol manufacturers to assist the bigger sector and develop more innovative beverages.
- Increasing demand for natural ingredients in cosmetic and personal care products among consumers resulted in the high adoption rate of food grade alcohol in the cosmetic and personal care industry.
- Growth in the demand for food grade ethanol is fueled by the growing demand for ready-to-eat food products, as it possess the property to expand the shelf life of the product.
“Rising consumption of alcoholic beverages resulted in its high trade, worldwide. According to WHO (World Health Organization), around 2.3 billion people are consuming alcohol in the overall global population and the count is increasing. Beer is the second most-consumed type of beverages among consumers, which is one of the final products of food grade alcohol. These factors are further driving the demand for food grade alcohol in the food and beverages sector.” says the FMI analyst.
Some of the major players in the food grade alcohol market are Cargill Incorporated, Archer Daniel Midland Company, MGP Ingredients (US), Roquette Freres S.A, Sigma-Aldrich, Fonterra Co-operative Group, Cristalco SAS, Wilmar International Limited, Grain Processing Corporation, Manildra Group, and many others. These major players are focusing on R&D for product innovation owing to extend their product portfolio to accomplish the growing demand for innovative beverages around the world from consumers. Also, manufactures are focusing to increasing their footholds around the globe by optimizing the strategy of mergers and acquisitions, joint ventures and partnership with small food grade alcohol manufactures.
For More Detailed Insights on Food Grade Alcohol Market
Find More Valuable Insights on Food Grade Alcohol Market
Future Market Insights, in its new report, brings to fore an unbiased analysis of the global food grade alcohol market, presenting historical demand data (2013-2018) and forecast statistics for the period, 2019-2028. The study divulges compelling insights on the food grade alcohol market on the basis of product type (ethanol/polyol), by application (food & beverages, pharmaceuticals, personal care, and others), across six major regions.
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