Food Grade Alcohol - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Food Grade Alcohol Market is accounted for $6,975.20 million in 2019 and is expected to reach $12,440.11 million by 2027 growing at a CAGR of 7.5% during the forecast period. Some of the key factors propelling the market growth include rising demand for various types of food-grade alcohols from a number of end use industries, increasing adoption of food-grade alcohol in alcohol production and in pharmaceuticals as drugs, and increasing consumption of beer and other alcohol-based beverages. However, awareness about harmful effects of alcohol consumption may hamper the market growth.
Ethanol prepared from natural food ingredients is referred to as food-grade alcohol. Food-grade alcohols are extensively used in various end use industries such as food & beverages, healthcare, and pharmaceuticals for a variety of applications. Also, food-grade alcohol is referred to as ethyl alcohol, which is the its purest form. It is generally sourced from sugarcane and abundantly used for commercial applications. Food-grade alcohol can be characterized as a colorless & odorless liquid that is volatile and flammable and is predominantly used as a drug or as a beverage especially in production of alcohols.
By source, the sugarcane, sugar beet & molasses segment is anticipated to grow at the significant rate during the forecast period, due to the increase in production of ethanol from sugarcane and molasses. The continuously low production price of raw sugar in the global market is fueling the production of ethanol from sugarcane, sugar beet & molasses. Sugar cane and sugar beet plants are the most abundant sources of sucrose, which is fermented to produce alcohol. Low product price associated with raw sugar in the global market has led to the increased use of sugarcane in the production of ethanol.
On the basis of geography, the Asia Pacific region is experiencing the highest growth rate due to strong industrial development policies adopted by the government. Increased government investments for urbanization and the improved standard of living of consumers have led to an increase in the consumption of food & beverage products. The strategic investors in the industry should see this as an opportunity to introduce innovative alcohol products to cater to the changing demands of manufacturers in this market.
Some of the key players in Food Grade Alcohol Market include Sigma-Aldrich, Roquette Freres S.A., Fonterra Co-operative Group, Cristalco SAS, Grain Processing Corporation, Archer Daniels Midland Company, Cargill, Incorporated, Wilmar International Limited, Manildra Group, Extractohol, MGP Ingredients, Greenfield Global Inc., Pure Alcohol Solutions, Bartow Ethanol of Florida, L.C, Ethanolsa Pty Ltd., Illovo Sugar Africa (Pty) Ltd., and Godavari Biorefineries Ltd.
• Fruits and Vegetables
• Sugarcane, Sugar Beet & Molasses
• Other Sources
• Coloring/Flavoring Agent
• Personal Care & Cosmetics
• Chemical Industry
• Pharmaceutical & Nutraceutical
• Cleaning Agent
Sales Channels Covered:
• Distribution Channel
• Direct Channel
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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