Global Food Grade Alcohol Market By Type (Ethanol, Polyols), Source (Grains, Fruits, Sugarcane & Molasses, Others), Application (Food, Beverages, Healthcare & Pharmaceutical, Personal Care, Others), Functionality (Coatings, Preservative, Coloring/Flavouring Agent, Others)
Market Analysis: Global Food Grade Alcohol Market
Global food grade alcohol market is expected to rise from its initial estimated value of USD 11.02 billion in 2018 to an estimated value of USD 15.64 billion by 2026, registering a CAGR of 4.47% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing consumption of the product from the various applicable end-use industries.
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Market Definition: Global Food Grade Alcohol Market
Food-grade alcohol, also known as ethyl alcohol can be defined as a special kind of alcohol that is used as a source material or raw material in various applications such as food, beverages, pharmaceutical, personal care for the manufacturing of industry-associated products. This alcohol is generally sourced from natural food ingredients and provides different levels of functioning according to its variety of applications.
- Increased consumption of alcohol products and a significant rise in alcohol trading globally are factors driving the growth of the market
- Rise in the levels of alcohol consuming population along with a rise in the levels of disposable income of individuals; this factor is expected to positively affect the growth of the market
- Presence of strict regulations and compliances regarding the presence of alcohol and its quality in food products & food ingredients is expected to restrain the growth of the market
- Increasing concerns and awareness regarding the usage and effects of prolonged usage/consumption of alcohol; this factor is expected to restrain the growth of the market
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Segmentation: Global Food Grade Alcohol Market
- Sugarcane & Molasses
- Healthcare & Pharmaceutical
- Personal Care
- Coloring/Flavouring Agent
Key Developments in the Market:
In January 2019, The Andersons, Inc. announced that they had completed the acquisition of Lansing Trade Group, LLC for approximately USD 324 million. They have acquired the remaining equity shares as they had already owned a 32.5% share in Lansing. This acquisition will help them in expanding their share in the agricultural business and increase their profitability ratio across an enhanced application area.
In December 2018, Lab Alley announced the launch of food grade pure absolute ethanol products line for the growing demand of the products in the market. The new series added to their existing ethanol solvent category will help in the creation of new growth opportunities and expand their customer base as these products are readily available in different proofs and packaging sizes.
Competitive Analysis: Global Food Grade Alcohol Market
Global food grade alcohol market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of food grade alcohol market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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