Food grade alcohol market is projected to exhibit robust growth at approximately 7% CAGR over the forecast period (2019-2028). Major manufacturers continue to innovative beverage products to match the shifting preferences and heightening demand from consumers. FMI projects the global revenue pool to exceed approximately US$ 5.8 Bn by 2028 end.
"Role of food grade ethanol as a food and beverages preservative is fuelling the market growth. Further, manufacturers utilize food grade ethanol to enhance the flavor and color of food products. In some applications, it is used as a food coating agent. Hence, diverse functional properties of food grade alcohol are highly favored by manufacturers," finds FMI analysis.
Key Takeaways of Food Grade Alcohol Market Study
- Polyol holds the leading market share in terms of product type.
- Ethanol will showcase impressive CAGR over the forecast period.
- Demand for food grade alcohol remains rampant in food & beverages industry.
- Asia Pacific will remain lucrative market for food grade alcohol through 2029.
Food Grade Alcohol Market - Key Growth Factors
- Rising demand for food grade alcohol in personal care applications is supplementing the growth of market.
- Alcoholic beverages are witnessing growing consumption rate thereby supporting the market growth.
- Variegated applications of food grade alcohol such as personal care products, pharmaceuticals, and food additives are favoring the market growth.
- Wider availability of food grade alcohol is facilitating the growth of market.
Food Grade Alcohol Market - Key Restraints
- Food grade alcohol has certain adverse effects which is limiting the overall market growth.
- Stringent regulations and fluctuating raw material prices is hampering the growth of food grade alcohol market.
Competitive Landscape
Global food grade alcohol market is a highly competitive landscape. Premier companies featured in this FMI study include, but are not limited to, Fonterra Co-operative Group, Sigma-Aldrich, Roquette Freres S.A., MGP Ingredients (US), Archer Daniel Midland Company, and Cargill Incorporated. In order to boost growth, key players are undertaking expansion strategies. Mergers and acquisitions continue to be primary strategic choice for business expansion. Moreover, Asia Pacific will be the regional focus area for market players through the duration of forecast period.
More about the Report
This Future Market Insights study of 200 pages provides all-inclusive insights on the global food grade alcohol market. The market analysis is based on product type (ethanol, polyol), application (food & beverages, pharmaceuticals, personal care) across six regions (North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa, Japan).
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Press Release Source: https://www.accesswire.com/582253/Food-Grade-Alcohol-Market-Pegged-at-7-CAGR-through-2028-Food-Beverages-Industry-Accounts-for-a-Majority-of-Demand-Future-Market-Insights
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s largest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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