Global food grade alcohol market is expected to rise from its initial estimated value of USD 11.02 billion to an estimated value of USD 15.64 billion by 2026, registering a CAGR of 4.47% in the forecast period of 2020-2026.
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.
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Key Market Competitors: Global Food Grade Alcohol Market
Few of the major competitors currently working in the food grade alcohol market are Archer Daniels Midland Company; Roquette Frères; MGP; Fonterra Co-operative Group; GREENFIELD GLOBAL INC.; Jiangsu Hua Ting Biological Technology Co., Ltd.; Cristalco; Lab Alley; The Andersons, Inc.; Wilmar International Ltd; Grain Processing Corporation; Cargill, Incorporated; Manildra Group; Merck KGaA; Puhoi Organic Distillery; Extractohol; Spectrum Chemical Manufacturing Corp. and The Northern Maine Distilling Company.
Segmentation: Global Food Grade Alcohol Market
· By Type (Ethanol, Polyols)
· By Source (Grains, Fruits, Sugarcane & Molasses, Others)
· By Application (Food, Beverages, Healthcare & Pharmaceutical, Personal Care, Others)
· By Functionality (Coatings, Preservative, Coloring/Flavouring Agent, Others)
· By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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.
· 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
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· 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
Key Insights in the report:
· Competitive analysis of key competitors involved in the market
· Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
· Market drivers and restraints analysis along with the analysis of the market structure
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