Food-grade Alcohol Market Share, Size, Trends, Competitive Analysis and Forecast Report by 2029
The chemical formula for food-grade alcohol is C2H5OH. Food-grade alcohol is a 99.5% pure colorless liquid solvent that is not converted with poisons. This type of alcohol is mostly used for food and beverage applications such as confectionery and chocolate, used as flavors and fragrances in food, or as a solvent for food coloring. The increasing demand for food-grade alcohol from various applications in the food and beverage industry is promoting the global food-grade alcohol market growth. A report by Fortune Business Insights™ titled, “Food-grade Alcohol Market Size, Share & Industry Analysis, By Product (Ethanol, Polyols), By Source (Grains, Sugarcane, Fruits, Others), By Application (Food & Beverage, Pharmaceuticals, Personal Care & Cosmetics) and Regional Forecast, 2022-2029,” provides a 360-degree overview of the market and its prime growth trajectories.
Objectives of the Report
- A comprehensive overview of the market
- List of factors boosting, repelling, stimulating, and providing opportunities to the market
- Detailed market segmentation and names of leading segments
- List of key industry developments, and interesting insights to the market
- Competitive landscape and list of significant players operating in the food-grade alcohol market and key strategies adopted by them
- Other food-grade alcohol market trends
Use of Food-grade Alcohol for Body Care Products to Aid in Expansion of Market
The rise in global trade relations between nations for alcohol is an important factor promoting the food-grade alcohol market growth. Additionally, the rise in popularity and increasing production of beer worldwide is also expected to help increase the overall food-grade alcohol market size in the forecast period. Besides this, there is an increasing demand for food-grade alcohol from applications in the food and beverage sector such as bakery and confectionery, food flavoring. This will help increase the overall food-grade alcohol market size in the forecast period. This, coupled with the use of food-grade alcohol in body care products such as deodorant, perfume, shampoo, and soaps, sanitizers, hand wash, and others, will help attract high food-grade alcohol market revenue in the forecast period.
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On the flip side, increasing awareness about the harmful effects of alcohol consumption may hamper the overall food-grade alcohol market growth. This, coupled with the fluctuating raw material prices, may pose a challenge to the market in the long run. Furthermore, stringent regulations imposed on the use of alcohol in various health and personal care, as well as food and beverage products, may negatively impact the overall food-grade alcohol market.
Nevertheless, emerging nations such as Latin America, Asia Pacific, and the Middle East and Africa are prognosticated to create lucrative food-grade alcohol market growth opportunities in the forecast duration. Apart from this, analysts at Fortune Business Insights™ predict the contribution of co-products for ethanol production in the feed industry to help augment the growth of the market in the long run.
Rise in Per Capita Income of People will help Asia Pacific Attract Significant Revenue to the Regional Market
Geographically, Europe is holding the dominant food-grade alcohol market share in the market. This is attributable to the higher rate of utilization of alcohol from end-use industries such as cosmetics and personal care, pharmaceutical, food, and others in and around the region. Moreover, the presence of a well-established food and beverage industry, coupled with the high incorporation of food-grade alcohol for preparing food flavors, preparing vinegar, and others in the region, is also aiding to the expansion of the regional market.
On the other side, Asia Pacific market share is anticipated to witness a significant rise in the forecast period on account of rapid urbanization across major economies such as China, India, and others. In addition, the rise in per capita income of people in the developing nations of the region is also expected to add a boost to the overall food-grade alcohol market growth in the coming years.
Merger and Acquisition Strategies to Help Companies Compete for top Market Position
Companies operating in the food-grade alcohol market are entering into strategic collaborations, contracts, partnerships, and mergers and acquisitions for maintaining their position in the overall market. Such strategies are likely to help companies earn high food-grade alcohol market revenue on one hand and enjoy a significant position in the market competition.
Key industry developments of the food-grade alcohol market include:
May 2017 – Arkansas-based BioBased Technologies, Rogers, and Agrol were acquired by Cargill Incorporated for their vegetable-based polyol product line.
Significant food-grade alcohol market manufacturers include:
- Manildra Group
- Wilmar International Limited
- Grain Processing Corporation
- Roquette Freres S.A.
- Archer Daniels Midland Company
- Fonterra Co-operative
- Cristalco SAS
- Cargill, Incorporated
- MGP Ingredients
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