Impact of COVID-19 on the Food-grade Alcohol Market

A recently published report by Future Market Insights (FMI) reveals that the global food grade alcohol market is scheduled to cross the US$ 13 billion revenue threshold through 2030. The report provides an exhaustive analysis of the key growth drivers from 2020-2030.

Food grade alcohol has been acquiring surging popularity across numerous application areas, ranging from food preservation to pharmaceutical formulations, cosmetics & fragrances manufacturing and spirits. Alcoholic beverages have long abandoned their premium tag, becoming more of a necessity than desire in various households.

Rising disposable incomes have led consumers to demand specialized food and beverage products, compelling manufacturers to introduce innovative formulations across the market. This is touted to be a primary growth accelerator in the coming years.

Key Takeaways from the Report

  • Asia-Pacific likely to emerge as the fastest growing market through 2030
  • Growing demand for clean-label products to accelerate organic food grade alcohol market
  • By function, food preservation to remain lucrative, pharmaceutical usage gaining traction
  • Sugarcane-sourced alcohol demand to remain consistent, fruit-based alcohol acquires momentum
  • Spirits production to remain a key food grade alcohol application area

“Abundant availability of raw materials such as fruits and sugarcane in emerging economies is enhancing their profitability, compelling alcohol producers to expand their presence in these regions,” comments an FMI analyst.

For more insights into the Market, Request a Sample of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-11155

COVID-19 Impact Insights

The novel coronavirus pandemic has drastically altered the global economic landscape. Several industries are relegating growth projections to much lower levels than the pre-pandemic levels. The food grade alcohol market has made similar adjustments.

According to experts, the near-term forecast appears to be quite sluggish. Growth is being stifled due to strict curbs on logistics, rendering procurement of ingredients required for the production process quite difficult. This is expected to last until the latter half of 2021.

At the same time, uptake across the pharmaceutical and personal care industries is sustaining demand. Since the pandemic’s onset, hand sanitizer sales have spiked exponentially, with consumers hoarding vast quantities of sanitizer sachets and bottles. Most of these use ethanol in conjunction with other alcohol variants.

Since it is highly effective in eradicating surface grade viruses, uptake of food grade alcohol across the aforementioned industries is slated to witness further growth in the upcoming forecast period.

Food Grade Alcohol Market Players

The global food grade alcohol market is interspersed with numerous regional and global level manufacturers, rendering it highly competitive. Prominent players include Archer Daniels Midland Company, Cargill Inc., Fairly Traded Organics, Ethimex Ltd., Organic Alcohol Company, GLACIAL GRAIN SPIRITS, CHIPPEWA VALLEY ETHANOL COMPANY, Essentica, MGP Ingredients, and Altia Industrial.

Common strategies employed by the aforementioned players include product innovations & launches, collaborations & partnerships with existing players, acquisitions and strengthening of regional distribution and supply chain networks. The presence of such a wide number of vendors renders the market highly competitive.

More Valuable Insights on Food Grade Alcohol Market

Future Market Insights, in its new report, offers an unbiased analysis of the global food grade alcohol market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the food grade alcohol market on the basis of nature (organic and conventional), application (spirits, vinegars, extracts and cosmetics & fragrances), function (aromas, preservatives, solvents, disinfectants and others) and source (sugarcane, wheat, rye, barley, corn and others) across seven prominent regions.

Food Grade Alcohol Market- Report Scope

Attribute Details
Forecast Period 2020-2030
Historical Data Available for 2015-2019
Market Analysis US$ Mn for Value & Tons for Volume
Key Regions Covered North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa
Key Countries Covered U.S., Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, BENELUX, India, Thailand, Indonesia, Malaysia, China, Japan, South Korea, Australia, New Zealand, GCC and South Africa
Key Segments Covered Nature, Application, Function & Source
Key Companies Profiled Archer Daniels Midland Company, Cargill Inc., Fairly Traded Organics, Ethimex Ltd., Organic Alcohol Company, GLACIAL GRAIN SPIRITS, CHIPPEWA VALLEY ETHANOL COMPANY, Essentica, MGP Ingredients, Altia Industrial, Highwater Ethanol LLC, Roquette Freres, Grain Processing Corporation, Fonterra Co-operative Group and Malindra Group.
Report Coverage Market Overview, Key Trends, Success Factors, Demand Analysis, Market Background, COVID-19 Impact Analysis, Segmental Analysis, Regional Profiling, Market Structure Analysis & Competition Analysis
Customization & Pricing Available upon Request

Key questions answered in the report

  • How will the food grade alcohol grow from 2020-2030?According to FMI’s estimates, the global food grade alcohol market is anticipated to embark on a largely positive trajectory, expanding steadily throughout the forecast period. A near-term sluggishness is expected due to disruptions in supply-demand equilibrium as a result of COVID-19.
  • Which is the most lucrative application area for food grade alcohol?The food segment is expected to generate credible growth opportunities, attributed to its use as preservatives for instant foods. Also, projections indicate the pharmaceutical industry to make extensive usage of food grade alcohol to formulate drugs, anaesthetics, lotions and solvents.
  • Which is the most preferred food grade alcohol source?Sugarcane is the dominant source for extracting food grade alcohol. However, fruit based alcohol is becoming equally popular, owing to the presence of high sugar content necessary to initiate the fermentation process.
  • How is COVID-19 likely to impact food grade alcohol market?In the short-run, the global food grade alcohol market is expected to experience deceleration due to constraints in procuring raw materials due to government imposed shutdowns. This is expected to ease eventually, owing to extensive applications across the pharmaceutical industry to manufacture hand sanitizers.
  • Which is the largest food grade alcohol market?North America currently dominates the global food grade alcohol market. Asia-Pacific, however, is slated to emerge as the most rapidly expanding market through 2030, with countries such as India and Thailand spearheading growth.
  • Which are the prominent food grade alcohol vendors?Prominent food grade alcohol vendors included in this report are Archer Daniels Midland Company, Cargill Inc., Fairly Traded Organics, Ethimex Ltd., Organic Alcohol Company, GLACIAL GRAIN SPIRITS, CHIPPEWA VALLEY ETHANOL COMPANY, Essentica, MGP Ingredients, Altia Industrial, Highwater Ethanol LLC, Roquette Freres, Grain Processing Corporation, Fonterra Co-operative Group and Malindra Group.

Explore the full food grade alcohol market report with 64 illustrative figures, 69 data tables and table of contents. Request ToC of the study at https://www.futuremarketinsights.com/customization-available/rep-gb-11155

Enquiry before Buying

  • Is this research conducted by Future Market Insights?Yes, the food grade alcohol market research has been conducted by expert analysts of Future Market Insights through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to the research analyst
  • What research methodology is followed by FMI?FMI follows a methodology that encompasses the demand side assessment of the market, and triangulates the same through a supply side analysis. This methodology is based on use of standard market structure, methods and definitions.

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