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DUBLIN--(BUSINESS WIRE)--Dec 5, 2022--
The "Food Grade Alcohol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global food grade alcohol market reached a value of US$ 7.84 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 10.95 Billion by 2027, exhibiting a CAGR of 5.73% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Food grade alcohol is obtained by the fermentation of starch-containing plants, such as cereals, beets, or sugarcane, using yeast cells. It is widely employed in the food and beverage (F&B) industry to serve as a base for distilled spirits, such as vodka, gin and liqueurs, and a solvent for colorants and flavors in different food products. Besides this, it is used by bakers for decorating cakes through airbrushing.
The increasing consumption of alcoholic beverages across the globe represents one of the key factors impelling the growth of the market.
Moreover, food grade alcohol is used to extract cannabis oil from hemp or cannabis biomass as it is healthier and safer to handle than other hydrocarbon extraction methods. It is also considered ideal for small, medium, and large-scale hemp processors on account of its high evaporation rate and ease of separation from cannabis oil.
Additionally, the rising development of therapies and other consumer products derived from cannabis and its components, including cannabidiol (CBD) is catalyzing the demand for food grade alcohol worldwide.
Apart from this, it is extensively utilized in the pharmaceutical industry for decongestants, pills, vitamins, cough syrup preparations, and iodine solutions. This can be accredited to its coating, sweetening, emollient, bulking, anti-crystallizing, and stabilizing properties.
Furthermore, there is a rise in the popularity of nutraceutical products on account of their antiviral, anti-inflammatory, and immunomodulatory properties. This, coupled with the burgeoning pharmaceutical industry, is creating a positive outlook for the market. Other factors, including the increasing western influence and rising popularity of craft beer among millennials, are anticipated to facilitate the growth of the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global food grade alcohol market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, source, function and application.
Breakup by Product:
Breakup by Source:
Breakup by Function:
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Breakup by Region:
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/fdsdai
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KEYWORD:
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE WINE & SPIRITS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/05/2022 09:25 AM/DISC: 12/05/2022 09:26 AM
http://www.businesswire.com/news/home/20221205005457/en