According to Future Market Insights (FMI), the global food-grade alcohol market is brimming with potential, poised to reach US$ 6.16 billion by 2033, reflecting a steady CAGR of 4.0%. This market caters to a fundamental human need – safe and reliable alcohol for various applications. From the familiar ethanol in your favorite beverage to the sterilizing agent in pharmaceuticals, food-grade alcohol plays a crucial role across industries.
Demand on the Rise: A Thirst for Quality
Several factors are fueling the demand for food-grade alcohol:
- Rising Disposable Incomes: Consumers are indulging in more specialty food and beverage items, driving manufacturers to introduce innovative formulas using food-grade alcohol.
- Health and Wellness Focus: Organic food-grade alcohol caters to the growing demand for natural and safe ingredients, particularly in pharmaceuticals and personal care products.
- Stringent Regulations: Stringent regulations on synthetic materials are pushing manufacturers towards natural alternatives like food-grade alcohol in cosmetics and cleaning solutions.
- Expanding Beverage Industry: The increasing popularity of craft beers and premium spirits is directly linked to the demand for high-quality food-grade alcohol.
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Several trends are propelling the market towards a future of robust growth:
- Product Diversification: Manufacturers are constantly innovating with new flavors, sugar-free options, and long-lasting formulas to cater to evolving consumer preferences.
- Focus on Sustainability: Environmentally conscious consumers are driving the demand for eco-friendly packaging solutions for food-grade alcohol products.
- Rising Pharmaceutical Applications: The growing pharmaceutical sector is utilizing food-grade alcohol in sanitizers, disinfectants, and medication production.
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.
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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.
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Key Segments
By Nature:
- Organic
- Conventional
By Application:
- Spirits
- Vinegar
- Extracts
- Cosmetics & Fragrances
- Pharmaceutical
- Nutraceutical
- Other Industrial Applications
By Function:
- Aromas
- Preservatives
- Solvents
- Disinfectants
- Others
By Source:
- Sugarcane
- Wheat
- Rye
- Barley
- Corn
- Others
By Region:
- North America (The United States & Canada)
- Latin America (Brazil, Mexico & Rest of Latin America)
- Europe (Germany, Italy, France, United kingdom, Spain, BENELUX, Nordics, Russia, Poland & Rest of Europe)
- Middle East & Africa (GCC, South Africa & Rest of the Middle East and Africa)
- East Asia (China, Japan & South Korea)
- South Asia (India, Thailand, Indonesia, Malaysia & Rest of South Asia)
- Oceania (Australia & New Zealand)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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