(Entertainment-NewsWire.com, December 13, 2017 ) According to Publisher, the Global Food Grade Alcohol market is expected to grow from $9.06 billion in 2016 to reach $13.35 billion by 2023 with a CAGR of 5.6%. Demand for food-grade alcohols from various industries, rising trade of alcohol across the globe are some of the key factors fueling the market growth. However, increasing awareness about the harmful effects of high alcohol consumption and stringent government regulations regarding the food grade alcohol quality are hindering the market growth. The beverage sectors create huge opportunities for the food grade alcohol manufacturers in the Asia Pacific region to innovate new products due to the availability of raw materials.
Based on Product, the Ethanol segment holds the largest market share due to the huge production of alcoholic beverages. It is a kind of alcohol which is found in alcoholic drinks such as beer, brandy, or whiskey. Ethanol can be produced from plants and grains such as corn, wheat, barley and milling the grains and fermenting them with yeast. Ethanol is widely used as a preservative in the food industry to increase the shelf life of end products and in manufacturing wide range of alcoholic beverages with diverse functions such as preservative, coloring/flavouring agent, and coatings.
Geographically, Asia Pacific is expected to grow at a fastest CAGR due to the widely used in manufacturing alcoholic beverages, food and healthcare & pharmaceutical products. In addition, rise in the consumption of alcoholic beverages and convenience food products are contributing to the growth of the market in this region with the growing food-processing industry.
Some of the key players in the Food Grade Alcohol market are Roquette Frères, Manildra Group, MGP Ingredients, Wilmar International Limited, Sigma-Aldrich, Archer Daniels Midland Company, Grain Processing Corporation, Cargill, Jiangsu Huating Biotechnology, Fonterra Co-Operative Group and Cistalco S.A.S.
Applications Covered: -Health Care & Pharmaceutical -Chemical Industry -Beverages -Food
Regions Covered: -North America o US o Canada o Mexico -Europe o Germany o UK o France o Italy o Spain o Rest of Europe -Asia Pacific o Japan o China o India o Australia o New Zealand o South Korea o Rest of Asia Pacific -South America o Argentina o Brazil o Chile o Rest of South America -Middle East & Africa o Saudi Arabia o UAE o Qatar o South Africa o Rest of Middle East & Africa
