DUBLIN–(BUSINESS WIRE)–The “Food Grade Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global food grade alcohol market reached a value of US$ 7.84 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 10.95 Billion by 2027, exhibiting a CAGR of 5.73% during 2021-2027.
- Archer-Daniels-Midland Company
- Cargill Incorporated
- Ethimex Ltd
- Glacial Grain Spirits
- Grain Processing Corporation (Kent Corporation)
- Manildra Group
- MGP Ingredients Inc.
- Molindo Group
- Pure Alcohol Solutions
- Roquette Freres
- Wilmar Sugar Pty Ltd. (Wilmar International Limited)
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Food grade alcohol is obtained by the fermentation of starch-containing plants, such as cereals, beets, or sugarcane, using yeast cells. It is widely employed in the food and beverage (F&B) industry to serve as a base for distilled spirits, such as vodka, gin and liqueurs, and a solvent for colorants and flavors in different food products. Besides this, it is used by bakers for decorating cakes through airbrushing.
The increasing consumption of alcoholic beverages across the globe represents one of the key factors impelling the growth of the market.
Moreover, food grade alcohol is used to extract cannabis oil from hemp or cannabis biomass as it is healthier and safer to handle than other hydrocarbon extraction methods. It is also considered ideal for small, medium, and large-scale hemp processors on account of its high evaporation rate and ease of separation from cannabis oil.
Additionally, the rising development of therapies and other consumer products derived from cannabis and its components, including cannabidiol (CBD) is catalyzing the demand for food grade alcohol worldwide.
Apart from this, it is extensively utilized in the pharmaceutical industry for decongestants, pills, vitamins, cough syrup preparations, and iodine solutions. This can be accredited to its coating, sweetening, emollient, bulking, anti-crystallizing, and stabilizing properties.
Furthermore, there is a rise in the popularity of nutraceutical products on account of their antiviral, anti-inflammatory, and immunomodulatory properties. This, coupled with the burgeoning pharmaceutical industry, is creating a positive outlook for the market. Other factors, including the increasing western influence and rising popularity of craft beer among millennials, are anticipated to facilitate the growth of the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global food grade alcohol market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, source, function and application.
Breakup by Product:
Breakup by Source:
- Molasses and Sugarcane
Breakup by Function:
- Coloring and Flavoring Agent
Breakup by Application:
- Healthcare and Pharmaceutical
- Personal Care
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global food grade alcohol market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global food grade alcohol market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the source?
- What is the breakup of the market based on the function?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global food grade alcohol market and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/fdsdai