Food Grade Alcohol Industry was valued at $6.9 billion in 2019, and is projected to reach $8.8 billion by 2027, registering a CAGR of 5.4% from 2021 to 2027. The market is expected to exhibit an incremental revenue opportunity of $1.8 billion from 2021 to 2027.
Increase in consumption of alcoholic beverages among consumers worldwide and rise in acceptance of alcoholic beverages in social gatherings, especially in Asia-Pacific, are expected to propel the demand for food grade ethanol. In addition, growth in adoption of low-calorie and sugar-free food products, owing to the rise in consumer health consciousness is one of the crucial factors that drive the growth of the global food grade alcohol industry.
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Rise in demand for alcoholic beverages as well as low-calorie food propel the market growth. Moreover, rise in demand for sugar substitutes or alternatives due to consumer preferences shifting toward a healthier lifestyle is expected to drive the growth of the global food grade alcohol market size.
The production and consumption of alcoholic beverages globally are expanding. The trend of consuming alcoholic beverages, such as beer, wine, whiskey, among others, in social gatherings has propelled the market growth. This has been a crucial factor to drive the market for ethanol, which, in turns, fuels the market growth. In addition, the application of polyols (sugar alcohols) in the pharmaceutical & nutraceutical industry has risen exponentially. The rise in consumption of nutraceutical among consumers in the form of functional foods, dietary supplements, and functional beverages fuels the food grade alcohol market growth. This is attributed to the fact that polyols are used in numerous pharmaceutical and nutraceutical products, owing to their coating, sweetening, emollient, bulking, anti-crystallizing, and stabilizing properties. However, fluctuations in prices of sugarcane, corn, wheat, and others are expected to hinder the food grade alcohol market growth.
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On the basis of region, North America was the prominent region for the global food grade alcohol market in 2019. This can be attributed to the tremendous popularity and substantial consumption of alcohol and processed food in the region. However, Asia-Pacific is expected to witness a significant CAGR, owing to rapid demand and acceptance of alcohol for social drinking coupled with rise in income spending as well as young consumers.
The key players operating in the food grade alcohol market include Cargill Incorporated, Spectrum Chemical Manufacturing Corp., MGP Ingredients, Inc., Archer Daniels Midland Company, Roquette Freres SA, Manildra Group, Wilmar International Limited, Molindo Group, Grain Processing Corporation, Cristalco S.A.S., and Ingredion.
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Key findings of the study In Food Grade Alcohol Industry
- By type, the ethanol segment was the highest contributor to the market, with $4,907.9 million in 2019, and is estimated to reach $6,136.4 million by 2027, at a CAGR of 5.2% during the forecast period.
- In 2019, by source, the sugarcane, sugar beet & molasses segment held the highest share. However, the grains segment is anticipated to grow at a higher CAGR during the food grade alcohol market forecast period.
- By application, the beverages segment was the highest contributor to the market, with $2,923.8 million in 2019, and is estimated to reach $3,662.1 million by 2027, at a CAGR of 5.3% during the forecast period.
- In 2019, North America was the most prominent market. However, Asia-Pacific is expected to grow at a significant CAGR over the food grade alcohol forecast period.
