11-Aug-2020 | Zion Market Research
Zion Market Research has published a new report titled “Food Grade Alcohol Product Market Type (Ethanol and Polyols), Source (Sugarcane, Grains, Fruits, and Others), Application (Food, Healthcare and Pharmaceutical and Beverages): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026” According to the report, global demand for Food Grade Alcohol market was valued at approximately USD 2.34 Billion in 2019, and is expected to generate revenue of around USD 3.10 Billion by end of 2026, growing at a CAGR of around 3.5% between 2020 and 2026.
Browse the full “Food Grade Alcohol Product Market Type (Ethanol and Polyols), Source (Sugarcane, Grains, Fruits, and Others), Application (Food, Healthcare and Pharmaceutical and Beverages): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 - 2026.” Report at https://www.zionmarketresearch.com/report/food-grade-alcohol-product-market
Alcohol is a versatile product with a wide range of applications from food and pharmaceutical to industrial solvents. In the food industry alcohol is widely used in the manufacturing of flavors & extracts, vinegar, food dyes, candy glazes, yeast, and various food sprays. Commonly, a major difference between productions of fuel-grade ethanol and food-grade ethanol is the addition of a small amount of solvent or gasoline to the fuel-grade ethanol in order to make it undrinkable. The process of alcohol production does not necessarily employ food-grade equipment. Rising population and rapid urbanization facilitated the need for quality food products. Moreover, food grade alcohol is utilized for food preservation are likely to drive the food grade alcohol market during the forecast period.
The recent outbreak of COVID-19 has resulted in a significant increase in the demand for hand sanitizers and surface disinfectants, thereby positively affecting the demand for the product. Various chemical and beverage manufacturing companies have started production of food-grade alcohol-based hand sanitizers and surface disinfectants in order to meet the surging demand. The outbreak of COVID-19 in December 2019 and its deadly effects across the globe is estimated to result in a demand-supply gap, and thus restrain the product demand. However, growth in the pharmaceutical sector, along with the growing need for hand rubs, is estimated to fuel the product demand.
In terms of revenue, ethanol is expected dominant type in the forecast period. This is endorsed to the growing adoption of the ethanol in the food and beverage industry in order to increase the shelf life of the final product. It is extensively used in the end-use industries, such as pharmaceutical, personal care, and food & beverage. In the personal care industry, the product is primarily used as an astringent, anti-foaming agent, and preservative in several hair care, skin care, and oral care products. Furthermore, it is also used as a food additive in numerous food preparations to enrich the flavors and quality of the food products.
Europe is likely to dominant regional market in the forecast period. The rising application in the food and beverage sector to fulfill the demand of a large consumer base is expected to generate the regional market growth. The food and beverage sector in Europe provides ample opportunities for the food grade alcohol market in terms of a vast consumer base and novel application scope. The players in the food and beverage industry in the region are continuously aim to develop new products and take up advance strategies in order to meet the demand and gain a competitive edge in the market
The report also includes detailed profiles of key players such as Archer Daniels Midland Company, Cargill, Sigma-Aldrich, Roquette Frères, MGP Ingredients, Cristalco S.A.S, Grain Processing Corporation, Wilmar International Limited, Fonterra Co-Operative Group and Manildra Group.
This report segments the Global Food Grade Alcohol Market as follows:
Global Food Grade Alcohol Market: Type Analysis
Global Food Grade Alcohol Market: Source Analysis
Global Food Grade Alcohol Market: Application Analysis
Global Food Grade Alcohol Market: By Region
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