Food Grade Alcohol Market by Type, Source, and Application: Opportunity Analysis and Industry Forecast, 2021–2027,” the global food grade alcohol market was valued at $6.9 billion in 2019, and is projected to reach $8.8 billion by 2027, registering a CAGR of 5.4% from 2021 to 2027. The market is expected to exhibit an incremental revenue opportunity of $1.8 billion from 2021 to 2027. Furthermore, rise in demand for alcoholic beverages as well as low-calorie food propel the market growth. Moreover, rise in demand for sugar substitutes or alternatives due to consumer preferences shifting toward a healthier lifestyle is expected to drive the growth of the global food grade alcohol market size.
- The outbreak of covid-19 caused major disruptions in the supply of raw materials, therefore, impacting the manufacturing of food grade alcohol based products.
- At the same time, this pandemic has increased health consciousness among people. And, the fact that any sort of alcoholic indulgence tends to weaken the immune system and reduces the ability to cope with infectious diseases has declined the demand for such products to a significant extent.
Download Sample Copy Of Report@ https://www.alliedmarketresearch.com/request-sample/7152
Rise in consumer spending and growth in urbanization have led to an increase in the consumption of processed and comfort food which, in turn, has driven the growth of the global food grade alcohol market. On the other hand, fluctuations in prices of sugarcane, corn, wheat, and others curb the growth to some extent. Nevertheless, the trend of consuming alcoholic beverages, such as beer, wine, whiskey, among others, in social gatherings is expected to create multiple opportunities in the industry.
Based on type, the ethanol segment accounted for more than two-thirds of the global food grade alcohol market revenue in 2019 and is expected to retain its dominance throughout the forecast period. This is due to the fact that food grade ethanol has the highest rate of consumption by means of alcoholic beverages. The xylitol segment, on the other hand, would portray the fastest CAGR of 6.0% during the study period.
Based on application, the beverages segment contributed to more than two-fifths of the global food grade alcohol market. This is because ethanol is largely used in the production of alcoholic beverages such as beer, wine, whiskey, and other liquors. At the same time, the pharmaceutical and nutraceutical segment would manifest the fastest CAGR of 5.6% from 2021 to 2027, owing to increasing use of polyol in the manufacture of pharmaceutical and nutraceutical products.
Based on geography, North America generated the highest share in 2019, garnering more than one-third of the global food grade alcohol market. This is attributed to tremendous popularity and substantial consumption of alcohol and processed food in the region Simultaneously, Asia-Pacific would register the fastest CAGR of 6.6% by the end of 2027, owing to rapid demand and acceptance of alcohol for social drinking coupled with rise in expenditure of young consumers.
The key players profiled in this report include Cargill Incorporated, Cargill Incorporated, Archer Daniels Midland Company, Archer Daniels Midland Company, Ingredion, Manildra Group, MGP Ingredients, Inc., Molindo Group.
Explore Detailed Insights PDF: https://www.alliedmarketresearch.com/food-grade-alcohol-market-A06787
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060