The food grade alcohol market was valued at USD 9.9 billion in 2015 and is projected to grow at a CAGR of 3.9% to reach USD 12.8 billion by 2022. Food grade alcohol plays a major role in the manufacture of flavors, extracts, yeast, and other food products. Factors such as an increase in the disposable income, betterment in the quality of beverages, and advanced marketing activities have led to an increase in global beverage consumption. Owing to the increasing demand for beverages and trade in alcohol alongside expansions in emerging markets like India, China, and Brazil, the market offers potential growth opportunities in the near future.
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Targeted Audience:
Raw material suppliers
Regulatory bodies, which include the following:
Food safety agencies such as the FDA, EFSA, USDA, and FSANZ
Government agencies and NGOs
Food safety agencies
End users, which include the following:
Food & beverage manufacturers/suppliers
Pharmaceutical manufacturers/suppliers
Retailers
Commercial research & development (R&D) institutions and financial institutions
Importers and exporters of food grade alcohol
Traders, distributors, and suppliers
Government and research organizations
Trade associations and industry bodies
The Asia Pacific region is experiencing the highest growth rate due to strong industrial development policies adopted by the government. Increased government investments for urbanization and the improved standard of living of consumers have led to an increase in the consumption of food & beverage products. The strategic investors in the industry should see this as an opportunity to introduce innovative alcohol products to cater to the changing demands of manufacturers in this market.
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The food & beverage industry offers the European food grade alcohol market a prominent consumer base with opportunistic growth prospects. The region’s food industry intends to adopt innovation and new product development strategies to meet the demand and competition in this region.
Fluctuating prices of raw materials and stringent regulations on the use of alcohol in food & beverage and health & personal care products are the major challenges that the market faces. While the above-stated facts could hamper the growth of the market, the increased demand in the emerging markets such as Asia Pacific; Latin America; the Middle East; and Africa, alongside the increasing global trade in alcohol, could be seen as opportunities and drivers in this market.
Players such as Archer Daniels Midland Company (US), Cargill Inc. (US), Sigma–Aldrich (US), Roquette Freres S.A. (France), and MGP Ingredients (US) have a strong presence in the Americas as well as in the Asia Pacific region. These companies are constantly strategizing their growth plans to expand their operations in the food grade alcohol market.
