The food grade alcohol global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Food Grade Alcohol Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The food grade alcohol market size has grown strongly in recent years. It will grow from $6.07 billion in 2023 to $6.38 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to beverage industry growth, food and flavor industry demand, pharmaceutical and healthcare uses, consumer preferences for natural ingredients, stringent quality standards, alcohol-based extracts in cosmetics..
The food grade alcohol market size is expected to see strong growth in the next few years. It will grow to $7.83 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to sustainable and eco-friendly practices, increased use in culinary arts, focus on traceability and transparency, functional and infused beverages, rising interest in local and artisanal products.. Major trends in the forecast period include innovations in fermentation technologies, rise in clean label products, flavor infusions and extracts, research and development for new applications, technology advancements in production..
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Scope Of Food Grade Alcohol Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Food Grade Alcohol Market Overview
Market Drivers –
The rising consumption of alcoholic beverages is expected to propel the growth of the food-grade alcohol market going forward. An alcoholic beverage contains more than a specific amount of alcohol by volume. Several alcoholic beverages are made out of food-grade alcohol, or neutral alcohol, which is derived from cereals, grapes, molasses, potatoes, and other agricultural or horticultural goods. Gin, for example, can be prepared from neutral-grain alcohol that has been infused with spices and herbs. For instance, in February 2022, according to a report published by the Distilled Spirit Council, a US-based national trade association representing producers and marketers of distilled spirits, the revenue from alcoholic beverages in the US between 2020 and 2021 increased to $35.8 billion at a Y-o-Y growth rate of 12.0%, while the volume of alcoholic beverages increased to 291.1 million cases (9-liter cases) at a Y-o-Y growth rate of 9.3%. Therefore, the rising consumption of alcoholic beverages is driving the growth of the food-grade alcohol market.
Market Trends –
Innovations in craft breweries have emerged as a key trend gaining popularity in the food-grade alcohol market. Major companies operating in the food-grade alcohol market are focused on developing innovative craft breweries to sustain their market position.For instance, in August 2021, Hopsteiner, a US-based hops supplier for breweries, launched ALTUS, an alcohol-flavored hop used in breweries to craft beers. It has notes of spicy tangerine and alpha-acid percentages nearing 20% and a yield of nearly 3,500 PPA. ALTUS is well-known among brewers looking for new aromas and improved brewing efficiencies. It has Super AA varieties that have been the base of brewing, and it was bred to be that versatile hop that works in malt-heavy recipes.
The food grade alcohol market covered in this report is segmented –
1) By Product: Ethanol, Polyols
2) By Source: Sugarcane And Molasses, Fruits, Grains
3) By Function: Coatings, Preservatives, Flavouring, Other Functions
4) By Application: Spirits, Vinegar, Extracts, Cosmetics, Pharmaceutical, Industrial Application
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Regional Insights –
Asia-Pacific was the largest region in the food grade alcohol market share in 2023. The regions covered in the food grade alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the food grade alcohol market report are MGP Ingredients inc., Cargill Incorporated, Archer Daniels Midland Co., Cristalco SAS, Grain Processing Corporation, Wilmar International Ltd., Malindra Group., MOLINDO Group, Extractohol, Pure Alcohol Solutions, Ethimex Ltd., Roquette Freres SA, Glacial Grain Spirits LLC, INGREDION Inc., Fonterra Co-Operative Group Ltd., Ethanolsa Pty Ltd., Bartow Ethanol of Florida L.C., Greenfield Global Inc., Bartlett Grain Company, United Ethanol LLC, Pacific Ethanol Inc., Valero Energy Corporation, Flint Hills Resources, Green Plains Inc., The Andersons Inc., White Energy, Big River Resources LLC, Southwest Iowa Renewable Energy LLC, Marquis Energy LLC, ICM Inc. .
Table of Contents
1. Executive Summary
2. Food Grade Alcohol Market Report Structure
3. Food Grade Alcohol Market Trends And Strategies
4. Food Grade Alcohol Market – Macro Economic Scenario
5. Food Grade Alcohol Market Size And Growth
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27. Food Grade Alcohol Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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