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 growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Food Grade Alcohol Market
Food grade alcohol refers to alcohol that is safe for human consumption and meets the specific quality standards and regulations set by regulatory authorities for use in the food and beverage industry. It is primarily used as an ingredient in the production of various food and beverage products. Food grade alcohol can be derived from various sources, including grains, fruits, or sugar cane, and it undergoes a distillation process to achieve high purity levels. Food grade alcohol is commonly used in the production of alcoholic beverages, such as beer, wine, and spirits. It serves as the main alcoholic component and contributes to the flavor, aroma, and overall quality of the beverage. Additionally, it is used in the production of flavor extracts, tinctures, and culinary applications where alcohol is required 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 is influenced by several industry trends and drivers that shape its growth and dynamics. One significant trend is the increasing demand for premium and craft alcoholic beverages. Consumers are showing a growing interest in unique flavors, high-quality ingredients, and artisanal products, which drives the demand for food grade alcohol as a key ingredient in the production of these beverages. Health consciousness and the preference for natural and organic products are also driving the market. Food grade alcohol derived from organic sources and produced using sustainable methods appeals to health-conscious consumers who seek clean-label products. The expanding food and beverage industry, along with the growing number of restaurants, bars, and hotels, is another driver for the food grade alcohol market. As the foodservice sector continues to grow globally, there is a rising demand for food grade alcohol to cater to the beverage needs of these establishments. Government regulations and policies play a crucial role in shaping the food grade alcohol market. Stringent 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).