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.
Food grade alcohol is obtained by the fermentation of starch-containing plants, such as cereals, beets, or sugarcane, using yeast cells. It is widely employed in the food and beverage (F&B) industry to serve as a base for distilled spirits, such as vodka, gin and liqueurs, and a solvent for colorants and flavors in different food products. Besides this, it is used by bakers for decorating cakes through airbrushing.
Food Grade Alcohol Market Trends:
The increasing consumption of alcoholic beverages across the globe represents one of the key factors impelling the growth of the market. Moreover, food grade alcohol is used to extract cannabis oil from hemp or cannabis biomass as it is healthier and safer to handle than other hydrocarbon extraction methods. It is also considered ideal for small, medium, and large-scale hemp processors on account of its high evaporation rate and ease of separation from cannabis oil. Additionally, the rising development of therapies and other consumer products derived from cannabis and its components, including cannabidiol (CBD) is catalyzing the demand for food grade alcohol worldwide. Apart from this, it is extensively utilized in the pharmaceutical industry for decongestants, pills, vitamins, cough syrup preparations, and iodine solutions. This can be accredited to its coating, sweetening, emollient, bulking, anti-crystallizing, and stabilizing properties. Furthermore, there is a rise in the popularity of nutraceutical products on account of their antiviral, anti-inflammatory, and immunomodulatory properties. This, coupled with the burgeoning pharmaceutical industry, is creating a positive outlook for the market. Other factors, including the increasing western influence and rising popularity of craft beer among millennials, are anticipated to facilitate the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global food grade alcoholmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, source, function and application.
Breakup by Product:
Breakup by Source:
Molasses and Sugarcane
Breakup by Function:
Coloring and Flavoring Agent
Breakup by Application:
Healthcare and Pharmaceutical
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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).
Base Year of the Analysis
Product, Source, Function, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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Key Questions Answered in This Report
The global food grade alcohol market was valued at US$ 8.3 Billion in 2022.
We expect the global food grade alcohol market to exhibit a CAGR of
5% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in numerous production activities for food grade alcohol.
The rising demand for food grade alcohol in the pharmaceutical industry owing to its coating, sweetening, emollient, bulking, anti-crystallizing, and stabilizing properties, is primarily driving the global food grade alcohol market.
Based on the product, the global food grade alcohol market can be categorized into ethanol and polyols. Currently, ethanol accounts for the majority of the total market share.
Based on the source, the global food grade alcohol market has been segregated into molasses and sugarcane, fruits, grains, and others. Among these, molasses and sugarcane currently holds the largest market share.
Based on the function, the global food grade alcohol market can be bifurcated into coatings, preservative, coloring and flavoring agent, and others. Currently, coloring and flavoring agent exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global food grade alcohol market include 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).
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