Global Food Grade Alcohol Market To Be Driven By Rising Application Of The Product In The F&B Sector In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Global Food Grade Alcohol Market Outlook, Size, Share, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global food grade alcohol market, assessing the food grade alcohol market based on its segments like types, sources, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along withanalyzingthe market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 8.17 billion
- Forecast CAGR (2023-2028): 5.4%
- Forecast Market Size (2028): USD 11.22 billion
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The rising applications of food grade alcohol in the beverage sector is driving the growth of the market. The increasing prominence of alcoholic drinks like beer, whiskey, and wine raises the demand for food-grade alcohol, thereby driving the market. In addition to this, the demand for food grade alcohol in the food sector is enhancing the market growth owing to the diverse range of flavours and several uses of the product in food processing applications.
This can be associated with the coating, sweetening, bulking, anti-crystallising, and stabilising properties of food grade alcohol. The trends supporting the flourishing food and beverage sector include rising per capita disposable incomes, rapid urbanisation, and rising standards of living.
Food Grade Alcohol Industry Definition and Segmentation
Food grade alcohol refers to an ingredient that is popularly used in end-use industries like food, beverage, and pharmaceuticals. Also known as non-denatured alcohol, food grade alcohol is safe for human consumption owing to its purity which is attributable to a lack of additives.
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Based on type, the market can be distinguished into:
- Ethanol
- Sorbitol
- Xylitol
- Others
On the basis of source, the market can be divided into:
- Sugarcane
- Sugar Beet and Molasses
- Grains
- Others
Based on application, the market segmentations include:
- Food
- Beverage
- Pharmaceutical and Nutraceutical
The regional markets for food grade alcohol include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Food Grade Alcohol Market Trends
In addition to applications in the food and beverage sector, the market growth of food grade alcohol is expected to be driven by applications in the pharmaceutical and nutraceutical sectors in the coming years.
Various alcohol-based ingredients find extensive use in the pharmaceutical and nutraceutical sectors as dietary supplements, functional food and beverages, and sanitisation products, among others, hence contributing to the market.
Key Market Players
The major players in the market are Cargill Incorporated, Spectrum Chemical Manufacturing Corp., Manildra Group, Wilmar International Limited, and Grain Processing Corporation, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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