According to Future Market Insights (FMI), the global food-grade alcohol market is expected to be worth US$ 4.16 billion in 2023 and US$ 6.16 billion by 2033, expanding at a CAGR of 4.0% during the forecast period.
Demand for food-grade alcohol may rise as demand for spirits and beers rises in various nations. Growth in the food processing sector and higher ethanol use propel the organic food-grade alcohol market forward.
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Market Opportunities
The traditional food-grade alcohol market should expand significantly over the forecast years, owing to increased alcoholic beverage sales as well as enhanced alcohol trade among developing economies as a result of favourable trade rules.
The use of efficient preservatives, flavourings, and other substances is increasing as the food and beverage industry becomes more sophisticated. This can help to improve the taste of the product while also increasing its shelf-life, which will fuel the expansion of the food-grade alcohol products market in the future years.
The advancement of the countries, as well as the involvement of ethanol co-products in the feed sector, may provide further prospects for the expansion of the food-grade alcohol market in the approaching years.
Negative Health Effects Dwindling Economic Growth of the Market
The negative health effects of excessive alcohol intake, along with demographic and legal concerns related to alcohol usage, may stymie organic food-grade alcohol market expansion during the predicted years.
In the near future, the volatile raw material prices and rigorous limits on the use of alcohol in food and beverages, health, and personal care products may provide additional challenges to the food-grade alcohol market growth.
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Regional Evaluation
Due to increasing alcohol consumption by end-use industries including food, pharmaceuticals, and cosmetics & personal care across countries in Europe, leading the region with the lion’s share of the conventional food-grade alcohol market and is to maintain its dominance during the forecast years.
The region’s well-established food and beverage sector and significant adoption of food-grade alcohol in the creation of various types of food flavors, vinegar preparation, and other processes are to be the catalyst for the organic food-grade alcohol market expansion.
Key Takeaways:
- Between 2023 and 2033, the United States may command a market share of 3.8%.
- From 2023 to 2033, Germany’s market share may capture 5.2%.
- Japan can boost its share of the market to 3.6% between 2023 and 2033.
- Australia’s market share between 2023 and 2033 is likely to be 2.9%.
- China food-grade alcohol products market is to advance at a 7.7% CAGR between 2023 and 2033.
- Between 2023 and 2033, India market is to register a CAGR of 13.7%.
- The market in the United Kingdom is to blossom at a CAGR of 4.2% between 2023 and 2033.
Insights into Notable Businesses and Market Dominance
The global market is very competitive, with the leading international brands focused on long-term relationships with end customers. Competition is to raise more in the food and beverage, pharmaceutical, and personal care sectors in the future years.
Sucrogen Bioethanol Pty. Ltd., MGP Ingredients, Inc., Shree Renuka Sugars Limited, AppliChem GmbH, Balrampur Chini Mills Ltd. (Sugar Division), Shanker International, Cargill, Incorporated, Cristalco S.A.S, Grain Processing Corporation, and others are among the food-grade alcohol manufacturers and suppliers of food-grade alcohol products.
Many food-grade alcohol product manufacturers and industrialists have expressed an interest in food-grade ethanol, which may increase food-grade alcohol demand among food makers and consumers in the coming years.
Notable Economic Innovation
· Acquisition
Cargill Incorporated purchased Rogers, Arkansas-based BioBased Technologies, and Agrol, their vegetable-based polyol product line, in May 2017.
About Future Market Insights (FMI):
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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