Exploring the Booming Food Grade Alcohol Market: Trends and Opportunities
IMARC Group, a leading market research company, has recently releases report titled “Food Grade Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global food grade alcohol market size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is Food Grade Alcohol?
Food grade alcohol is alcohol deemed safe for human consumption, meeting specific quality standards and regulations established by authorities for use in the food and beverage industry. It serves as a key ingredient in the production of various food and beverage items. Derived from sources like grains, fruits, or sugar cane, it undergoes a distillation process to attain high purity levels. Widely employed in the production of alcoholic beverages such as beer, wine, and spirits, food grade alcohol acts as the primary alcoholic component, influencing the flavor, aroma, and overall quality of the beverage. Moreover, it finds application in the production of flavor extracts, tinctures, and culinary uses where alcohol serves as a solvent or preservative.
How Big Is the Food Grade Alcohol Market?
The global food grade alcohol market size reached US$ 8.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.
Global Industry Trends and Drivers:
The Food Grade Alcohol market experiences the influence of various industry trends and drivers that contribute to its growth and dynamics. A notable trend is the increasing demand for premium and craft alcoholic beverages. Consumers exhibit a rising interest in unique flavors, high-quality ingredients, and artisanal products, fueling the need for food grade alcohol as a crucial component in the production of these beverages. Health consciousness and a preference for natural and organic products also play a significant role in propelling the market forward. Food grade alcohol sourced from organic origins and produced using sustainable methods appeals to health-conscious consumers seeking clean-label products. The market is further driven by the expanding food and beverage industry, accompanied by a growing number of restaurants, bars, and hotels. As the global foodservice sector continues to grow, there is an increasing demand for food grade alcohol to meet the beverage requirements of these establishments. Government regulations and policies play a pivotal role in shaping the food grade alcohol market. Strict quality standards, safety regulations, and labeling requirements set by regulatory bodies ensure that food grade alcohol meets the necessary criteria for human consumption.
What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Product:
- Ethanol
- Polyols
Breakup by Source:
- Molasses and Sugarcane
- Fruits
- Grains
- Others
Breakup by Function:
- Coatings
- Preservative
- Coloring and Flavoring Agent
- Others
Breakup by Application:
- Healthcare and Pharmaceutical
- Food
- Beverages
- Personal Care
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The report provides a comprehensive analysis of the industry key players listed below:
Archer-Daniels-Midland Company, Cargill Incorporated, Cristalco, Ethimex Ltd, Extractohol, Glacial Grain Spirits, Grain Processing Corporation (Kent Corporation), Manildra Group, MGP Ingredients Inc., Molindo Group, Pure Alcohol Solutions, Roquette Frères and Wilmar Sugar Pty Ltd. (Wilmar International Limited).
Key highlights of the Report:
- Market Performance (2018–2023)
- Market Outlook (2023–2028)
- COVID-19 Impact on the Market
- Porter's Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape