(Entertainment-NewsWire.com, June 08, 2018 ) Food Grade Alcohol Market Size was around USD 10.28 billion in 2016. It is expected to grow at a CAGR of 4.1% to reach USD 12.57 billion by 2021.Food-grade beverage alcohol comprises principally of grain neutral spirits and gin. Grain neutral spirits are sold in mass amounts at different proof concentrations to bottlers and rectifiers, which additionally process the alcohol available to be purchased to buyers under various labels. Gin is made by re-distilling grain neutral spirits together with exclusive customer formulations of botanicals or botanical oils.
Liquor is a standout amongst the most adaptable items known. Applications vary from use in FMCG and pharmaceutical products to industrial solvents and so on. Alcohols can be used in a hundred of different ways in the field of proprietary solvents. One of the major uses of alcohol is in the food industry.
Fermented distilled liquor popularly known as food-grade alcohol is made using potato, cereals, sugar after cooking as raw material, scarification, fermentation and processing for food industry using aqueous alcohol. Food grade alcohol flavor is usually determined by the level of content of distilled liquor in the aldehyde, acid, ester. Further, impurities may lead to alteration in flavor.
The global market is driven by expanding global beer generation and likeness towards craft beer. Likewise, the expanding usage of alcoholic drinks in the developing regions bolstered with the extension of potential export markets because of demographic and economic reasons, have built up a developing platform for expanded liquor trade which is thus driving the food-grade liquor market.
The recent ban by the supreme court of India for the sale of liquor in the shops on state and national highways and other proactive measures taken by the union as well as various state governments are the major restraints of this market. Further, lobbying by various NGOs to increase the tax rate on alcoholic beverages is another dampening factor of the market. Similar trends are observable globally.
As far as volume, the beverages section is anticipated to develop at the most elevated rate in the vicinity of 2017 and 2022, because of the expansion in the worldwide utilization of alcoholic beverages.
On the basis of geography, the global food-grade alcohol market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Food-grade alcohol is utilized for producing alcoholic beverages as well as for food and healthcare and pharmaceutical products. Subsequently, as the interest for these consumables increments from end users, makers utilize food-grade alcohol for making creative food items. Europe has adopted the use of food-grade alcohol in food, beverages, and pharma applications. The Asia-Pacific region is assessed to drive the market with the expansion in demand for food-grade alcohol. The increased utilization of alcoholic beverages and convenience food products are essentially affecting the development of the market in this region, with the growing food-processing industry.
The Asia-Pacific region is expected to be the fastest-growing market, in terms of both value and volume, in the global food-grade alcohol market, in 2017. This region encompasses developing economies such as China, Japan, and India, which are the largest consumers of food-grade alcohol in the world. The augmenting population and per capita income in India and China coupled with widespread availability of raw materials is expected to drive the food-grade alcohol market. India's food-grade alcohol market is expected to grow at the highest rate among the Asia-Pacific countries.
Some of the Food Grade Alcohol Market Leaders are Archer Daniels Midland Company (U.S.), Cargill Inc. (U.S.), MGP Ingredients (U.S.) Sigma-Aldrich (U.S.) and Roquette Freres S.A. (France).
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. From all-encompassing umbrella markets to extremely specific niche markets covering all the major regions across the globe as part of the research scope, their research services offer one of a kind specialities with competitive pricing options. For more info kindly visit, www.marketdataforecast.com