Rockville, Feb. 15, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global food-grade alcohol market is anticipated to surpass a value of US$ 20.8 billion by the end of 2033, increasing at a CAGR of 4.1% during the forecast period from 2023 to 2033. Growing traction for a wide variety of beverages is projected to stimulate the demand for food-grade alcohol over the coming years.

Food-grade alcohol is used as an essential ingredient in the food & beverage industry for several purposes, including dyes, extracts, flavorings, and others. Rising consumer spending along with growing urbanization is leading to increased consumption of processed foods and beverages, which is expected to push the demand for food-grade alcohol upward.

Production and consumption of alcoholic beverages are increasing due to the changing consumption patterns and lifestyles of people around the globe. The existing trend to consume alcoholic beverages, including whiskey, beer, and wine in social gatherings, has been contributing to increasing demand for food-grade alcohol. In addition, polyols (sugar alcohols) are widely used in the nutraceutical and pharmaceutical industries, which can further boost the sales of food-grade alcohol products. Many people consume nutraceuticals in the form of functional beverages, functional foods, and dietary supplements. Numerous nutraceutical and pharmaceutical products use polyols due to their stabilizing, coating, anti-crystallizing, sweetening, bulking, and emollient properties.

In recent years, the market for food-grade alcohol has been escalating at a noticeable rate. In addition, the popularity of craft beer and global beer are some other pivotal factors that are estimated to generate lucrative opportunities for new market players over the coming years.

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However, constant fluctuations in the prices of raw materials used in the production of food-grade alcohol are predicted to adversely impact market growth. Wheat, sugarcane, corn, etc., are some of the major raw materials that are used in the manufacturing of food-grade alcohol. Also, health concerns related to the dangerous side effects of alcohol consumption are anticipated to impede growth opportunities in the target market during the forecast period.

Key Takeaways from Market Study

• The global food-grade alcohol market is expected to grow at a CAGR of 4.1% during the forecast period from 2023 to 2033.
• The value of the global market is US$ 13.8 billion in 2023.
• The global industry is expected to reach a value of US$ 20.8 billion by the end of 2033.
• Food-grade alcohol products produced from sugarcane & molasses are projected to hold around 30% market share.
• Demand for food-grade alcohol in Germany is predicted to rise at a CAGR of 3%.
• Sales of food-grade alcohol in Canada are estimated to advance at a CAGR of 3.3% during the forecast period (2023 to 2033).

"Demand for food-grade alcohol is forecasted to be driven by increasing demand for beers and spirits across economies around the world. A noticeable growth in the food processing industry along with growing consumption of ethanol is estimated to generate lucrative opportunities for market players," says a Fact.MR analyst.

Segmentation of Food-grade Alcohol Industry Research

• By Product :
  • Ethanol
  • Sorbitol
  • Xylitol
  • Others
• By Source :
  • Sugarcanes & Molasses
  • Fruits
  • Grains
  • Others
• By Application :
  • Food & Beverages
  • Personal Care
  • Pharmaceuticals
  • Nutraceuticals
  • Others
• By Region :
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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Key Market Players

Major providers of food-grade alcohol, across the globe, are spending a handsome amount on developing and strengthening their supply chain management system. They are strategizing on enhancing the quality of products and enabling faster delivery to consumers. While ensuring product quality, they adhere to set guidelines for quality control and environmental impact.

Key Companies Profiled

• Archer Daniels Midland Company
• Cargill, Inc.
• Fonterra Co-operative Group Ltd.
• Grain Processing Corporation
• Manildra Group
• Wilmar International Ltd.
• MilliporeSigma
• MGP Ingredients, Inc.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global food-grade alcohol market for the period of 2023 to 2033.

The study divulges essential insights into the market on the basis of product (ethanol, sorbitol, xylitol, others), source (sugarcane & molasses, fruits, grains, others), and application (food & beverages, personal care, pharmaceuticals, nutraceuticals, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).

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Food-grade Alcohol Market - The global food-grade alcohol market is valued at US$ 13.8 billion in 2023 and is expected to reach US$ 20.8 billion by the end of 2033, expanding at a CAGR of 4.1% during the forecast period (2023 to 2033).

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