Overview and Scope
Food-grade alcohol is ethyl alcohol that is safe for consumption as it is pure and has no additives. It is a volatile natural solvent safe for humans that may be used in a variety of food-grade applications that come into contact with people. It is utilized in the food and beverage sectors, as well as the pharmaceutical and medical, cosmetic, and electronic industries.
Sizing and Forecast
The food grade alcohol market size has grown strongly in recent years. It will grow from $6.07 billion in 2023 to $6.38 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to beverage industry growth, food and flavor industry demand, pharmaceutical and healthcare uses, consumer preferences for natural ingredients, stringent quality standards, alcohol-based extracts in cosmetics..
The food grade alcohol market size is expected to see strong growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to sustainable and eco-friendly practices, increased use in culinary arts, focus on traceability and transparency, functional and infused beverages, rising interest in local and artisanal products.. Major trends in the forecast period include innovations in fermentation technologies, rise in clean label products, flavor infusions and extracts, research and development for new applications, technology advancements in production..
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Segmentation & Regional Insights
The food grade alcohol market covered in this report is segmented –
1) By Product: Ethanol, Polyols
2) By Source: Sugarcane And Molasses, Fruits, Grains
3) By Function: Coatings, Preservatives, Flavouring, Other Functions
4) By Application: Spirits, Vinegar, Extracts, Cosmetics, Pharmaceutical, Industrial Application
Asia-Pacific was the largest region in the food grade alcohol market share in 2023. The regions covered in the food grade alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rising consumption of alcoholic beverages is expected to propel the growth of the food-grade alcohol market going forward. An alcoholic beverage contains more than a specific amount of alcohol by volume. Several alcoholic beverages are made out of food-grade alcohol, or neutral alcohol, which is derived from cereals, grapes, molasses, potatoes, and other agricultural or horticultural goods. Gin, for example, can be prepared from neutral-grain alcohol that has been infused with spices and herbs. For instance, in February 2022, according to a report published by the Distilled Spirit Council, a US-based national trade association representing producers and marketers of distilled spirits, the revenue from alcoholic beverages in the US between 2020 and 2021 increased to $35.8 billion at a Y-o-Y growth rate of 12.0%, while the volume of alcoholic beverages increased to 291.1 million cases (9-liter cases) at a Y-o-Y growth rate of 9.3%. Therefore, the rising consumption of alcoholic beverages is driving the growth of the food-grade alcohol market.
Key Industry Players
Major companies operating in the food grade alcohol market report are MGP Ingredients inc., Cargill Incorporated, Archer Daniels Midland Co., Cristalco SAS, Grain Processing Corporation, Wilmar International Ltd., Malindra Group., MOLINDO Group, Extractohol, Pure Alcohol Solutions, Ethimex Ltd., Roquette Freres SA, Glacial Grain Spirits LLC, INGREDION Inc., Fonterra Co-Operative Group Ltd., Ethanolsa Pty Ltd., Bartow Ethanol of Florida L.C., Greenfield Global Inc., Bartlett Grain Company, United Ethanol LLC, Pacific Ethanol Inc., Valero Energy Corporation, Flint Hills Resources, Green Plains Inc., The Andersons Inc., White Energy, Big River Resources LLC, Southwest Iowa Renewable Energy LLC, Marquis Energy LLC, ICM Inc. .
The food grade alcohol market report table of contents includes:
1. Executive Summary
2. Food Grade Alcohol Market Characteristics
3. Food Grade Alcohol Market Trends And Strategies
4. Food Grade Alcohol Market – Macro Economic Scenario
5. Global Food Grade Alcohol Market Size and Growth
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31. Global Food Grade Alcohol Market Competitive Benchmarking
32. Global Food Grade Alcohol Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Food Grade Alcohol Market
34. Food Grade Alcohol Market Future Outlook and Potential Analysis
35. Appendix
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