IMARC Group, a leading market research company, has recently releases report titled “Food Grade Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032. The report offers a comprehensive analysis of the industry, which comprises insights on the global food grade alcohol market size. The global food grade alcohol market size reached US$ 8.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 13.1 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
Factors Affecting the Growth of the Food Grade Alcohol Industry:
- Demand for Processed Foods:
The rising demand for processed food products due to changing lifestyle patterns and the need for convenience among people represents one of the key factors impelling the market growth. This trend is particularly seen in urban areas, where fast-paced lifestyles have increased dependence on ready-to-eat (RTE) and packaged foods. Food grade alcohol is a crucial ingredient in many of these products, serving as a preservative and flavor enhancer. It helps extend shelf life and maintain the taste, texture, and quality of food items. The proliferation of international cuisine and gourmet products in various regions is catalyzing the demand for food grade alcohol in the preparation and preservation of these delicacies.
- Pharmaceutical Sector Demand:
The increasing utilization of food grade alcohol in pharmaceuticals as a solvent and excipient in the formulation of various drugs is propelling the growth of the market. It plays a vital part in the production of herbal tinctures, cough syrups, and certain types of vaccines, where it acts as a solvent or carrier for active medicinal ingredients. Additionally, the rising focus on health and wellness is increasing the production of health supplements and vitamins, where food grade alcohol is often employed. Besides this, ongoing research operations in the pharmaceutical sector, aimed at launching new and more effective medicines, is further driving the demand for high-purity, food grade alcohol.
- Use in Personal Care Products:
The growing use of food grade alcohol in the personal care industry is offering a favorable market outlook. This is attributed to its effectiveness as a solvent and its antimicrobial properties, making it ideal for use in a range of products, including perfumes, lotions, and sanitizers. The increasing awareness about personal hygiene and self-care is catalyzing the demand for hand sanitizers and other hygiene-related products, where food grade alcohol is a key ingredient. Furthermore, rising preferences for natural and organic personal care products is encouraging the use of food grade alcohol, as it is often derived from natural sources and is perceived as a safer, more sustainable option compared to synthetic alternatives.
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Competitive Landscape with Key Player:
- 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
- Wilmar Sugar Pty Ltd. (Wilmar International Limited)
Food Grade Alcohol Market Report Segmentation:
Breakup by Product:
- Ethanol
- Polyols
Ethanol exhibits a clear dominance on account of its wide availability and extensive use in various food applications.
Breakup by Source:
- Molasses and Sugarcane
- Fruits
- Grains
- Others
Molasses and sugarcane hold the largest segment attributed to the abundant availability of molasses and sugarcane as raw materials for food-grade alcohol production, making them a significant source in the industry.
Breakup by Function:
- Coatings
- Preservative
- Coloring and Flavoring Agent
- Others
Coloring and flavoring agent accounts for the maximum share justified by the essential role of food-grade alcohol in extracting and preserving flavors and colors in various food products and beverages.
Breakup by Application:
- Healthcare and Pharmaceutical
- Food
- Beverages
- Personal Care
- Others
On the basis of application, the market has been divided into healthcare and pharmaceutical, food, beverages, personal care, and others.
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific dominates the market due to the robust food and beverage (F&B) industry and increasing consumer demand for food-grade alcohol products.
Global Food Grade Alcohol Market Trends:
The growing integration of advanced technology in the production of food grade alcohol like precision fermentation and the use of artificial intelligence (AI) in monitoring and optimizing production processes, are positively influencing the market. These technologies enhance efficiency, increase yield, and ensure consistent quality, meeting the stringent standards required for food grade alcohol. In addition, the rising use of data analytics and internet of things (IoT) devices in supply chain management helps to predict market trends and demand, enabling producers to adjust production accordingly. This technological integration is vital for maintaining competitiveness and catering to the evolving needs of the market.
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