Food-grade alcohol is widely used in various end use industries, and is generally referred to as ethyl alcohol. It is primarily derived from sugarcane and is used for production of alcohol. General characteristics of food-grade alcohol are, it is a volatile, flammable, colorless & odorless liquid.
High demand for food-grade alcohol from a number of end use industries especially from the food and beverage industry for manufacture of alcohols is a key factor fueling growth of the global food-grade alcohols market. Also, increasing adoption of food-grade alcohol in the pharmaceutical sector as a drug is another factor anticipated to boost growth of the global food-grade alcohol market over the forecast period.
Stringent government regulations pertaining to distribution and production of alcohols is a major factor hampering growth of the global food-grade alcohol market. Moreover, growing awareness among the general population in regard with harmful effects caused due to alcohol consumption is another factor expected to limit growth of the global food-grade alcohol market to a significant extent.
The global food-grade alcohol market report has been segmented on the basis of type, application, source, and region. On the basis of type, the global food-grade alcohol market is segmented into, ethanol and polyols. On the basis of application, the global food-grade alcohol market is segmented into, food & beverage and healthcare and pharmaceuticals. On the basis of source, the global food-grade alcohol market is segmented into, sugarcane & molasses, grains, fruits, and others. On the basis of region, into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in North America accounted for highest revenue share in the global food-grade alcohol market, as compared to that of markets in other regions. This can be attributed to high consumption of alcohol and increasing use of specialty food-grade alcohols in beverage production in countries in the region. Also, owing to rising demand for food-grade alcohols from various end use industries, the market in Europe accounted for second-highest revenue share in the global food-grade alcohol market. The markets in Asia Pacific, Latin America, and Middle East & Africa are also expected to witness moderate growth over the forecast period.
Prominent players in the global food-grade alcohol market include Archer Daniels Midland Company, Cargill, MGP Ingredients, Sigma-Aldrich, Roquette Freres S.A., Fonterra Co-operative Group, Cristalco SAS, Grain Processing Corporation, Wilmar International Limited, and Manildra Group.