The Europe Food Grade Alcohol Market was assessed to be $ xx million in 2022, and it is determined to reach a valuation of US$ xx million by 2028 with an annual expansion rate of xx% between 2023 and 2028.
Alcohol, also known as ethanol, is a versatile product with a wide variety of uses, from food and pharmaceuticals to industrial solvents. Alcohol made from natural food ingredients is called food grade alcohol. Food grade alcohol has a wide range of uses in a variety of end-use industries such as food and beverage, medical, and pharmaceuticals. It is usually obtained from sugar cane and has many commercial uses. Food grade alcohol can be characterized as a colorless, odorless liquid that is volatile and flammable, and is used primarily as a drug or beverage, especially in the production of alcohol. Food grade alcohol is mainly used in the food and beverage industry as an ingredient in products such as flavorings, extracts, colorants, etc. In the food industry, alcohol is widely used in the manufacture of vinegar, yeast, flavorings and extracts, caramel glazes, food coloring, and various food sprays. Food grade equipment is not necessarily used in the alcohol production process. Population growth and rapid urbanization have fueled the need for quality food.
Food grade alcohol used in food preservation is likely to lead the Europe Food Grade Alcohol market during the forecast period.
The trend of consuming alcoholic beverages such as beer, wine and whiskey at social gatherings has fueled the growth of the Europe Food Grade Alcohol market. In addition, the application of polyols has increased exponentially in the pharmaceutical and nutraceutical industries. The market is gaining momentum as consumption of functional foods among consumers in the form of functional foods, dietary supplements, and functional beverages increases. In general, the main difference between fuel grade ethanol production and food grade ethanol production is adding a small amount of solvent or gasoline to fuel grade ethanol to make it undrinkable. Additionally, increased alcohol production and adoption of food grade alcohol as pharmaceuticals are other factors supposed to drive the growth of the Europe Food Grade Alcohol market during the outlook period. The growing interest in craft beer and other alcoholic beverages among people is one of the main driving forces in the Europe Food Grade Alcohol market. In addition, improved trade regulations, demographic patterns, and economic growth are driving export markets in developing countries, while population growth and rapid urbanization have led to high demand for quality food. The increase in volumetric consumption has benefited the food grade alcohol industry as it constitutes a significant component of all alcoholic beverages in the area. The changing drinking habits of millennials and the growing number of artisanal distilleries have fueled the growth of the spirits industry and are using food grade alcohol for food preservation. These factors are estimated to drive the European food grade alcohol market during the foreseen period. Alcohol-flavored foods will provide a favorable opportunity for European market in the near future.
Price fluctuations such as sugarcane, corn and wheat are supposed to hamper the growth of the Europe Food Grade Alcohol market. Strict government regulations regarding the quality of food grade alcohol are expected to limit the regional market to some extent in the near future. Furthermore, the growing awareness of the negative impacts associated with alcohol consumption is another factor that is predicted to restrict the growth of the Europe Food Grade Alcohol market during the projection period.
By type, the Europe Food Grade Alcohol market has been segmented into polyols and ethanol. Ethanol had the largest share of the European market in 2019. The proven health benefits of polyols have led to increased use as an ingredient in the health industry, but increased beer production and the increased trade in alcohol have resulted in an increase in the use of ethanol as a major food grade alcohol in the beverage industry. There has also been an increase in the use of ethanol as a preservative in the food industry to increase the shelf life of the final product.
On the basis of application, the Europe Food Grade Alcohol market is divided into food, beverages, healthcare and pharmaceuticals. Ethanol is an excellent solvent and is used in the manufacture of antibiotics, tablets, pills, vitamins, and a variety of medications, promoting growth in the healthcare and pharmaceuticals segment.
According to sources, sugarcane had the largest market share in 2019. Sugarcane contains high levels of sucrose. Therefore, it is fermented to produce alcohol. The use of sugarcane for ethanol production has increased due to the low prices of products associated with raw sugar on the world market.
The recent coronavirus outbreak has greatly increased the demand for hand sanitizers and surface sanitizers, which has had a positive impact on product demand. With the COVID-19 crisis, the European food grade alcohol market is set to experience a slight slowdown in the short term due to gaps in the supply and demand equation caused by forced shutdowns by the government.
Geographically the Europe Food Grade Alcohol Market is segmented into UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe. Europe emerged as the dominant regional market in 2019 with a 34.1% revenue share. The growing applications in the food and beverage sector to meet the demand of a large consumer base are supposed to drive the growth of the regional market. Europe's food and beverage sector offers vast opportunities for the food grade alcohol market in terms of its broad consumer base and its new range of applications. The region's food and beverage industry players are constantly looking to develop new products and advanced strategies to meet market demand and gain a competitive advantage.
Key Players in the Market:
Major Key Players in the Europe Food Grade Alcohol Market are
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