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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2020): About USD 7.35 billion
- Forecast CAGR (2022-2027): 5.4%
The rising applications of food grade alcohol in the beverage sector is driving the growth of the market. The increasing prominence of alcoholic drinks like beer, whiskey, and wine raises the demand for food-grade alcohol, thereby driving the market. In addition to this, the demand for food grade alcohol in the food sector is enhancing the market growth owing to the diverse range of flavours and several uses of the product in food processing applications. This can be associated with the coating, sweetening, bulking, anti-crystallising, and stabilising properties of food grade alcohol. The trends supporting the flourishing food and beverage sector include rising per capita disposable incomes, rapid urbanisation, and rising standards of living.
Industry Definition and Segmentation
Food grade alcohol refers to an ingredient that is popularly used in end-use industries like food, beverage, and pharmaceuticals. Also known as non-denatured alcohol, food grade alcohol is safe for human consumption owing to its purity which is attributable to a lack of additives.
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Based on type, the market can be distinguished into:
On the basis of source, the market can be divided into:
- Sugar Beet and Molasses
Based on application, the market segmentations include:
The regional markets for food grade alcohol include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
In addition to applications in the food and beverage sector, the market growth of food grade alcohol is expected to be driven by applications in the pharmaceutical and nutraceutical sectors in the coming years. Various alcohol-based ingredients find extensive use in the pharmaceutical and nutraceutical sectors as dietary supplements, functional food and beverages, and sanitisation products, among others, hence contributing to the market.
Key Market Players
The major players in the market are Cargill Incorporated, Spectrum Chemical Manufacturing Corp., Manildra Group, Wilmar International Limited, and Grain Processing Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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