Global Food Grade Ethyl Alcohol Market
The food-grade ethyl alcohol finds its application in various different industries like food & beverages, cosmetics, petroleum, etc. The primary use or the major share of revenue is generated by the beverage industry mainly. According to the research done by Transparency Market Insights, the study showed a decent increase in growth rate over the past few years and is expected to experience an almost lookalike CAGR in the forecasted period of 2021-2031.
What are the Driving Forces of Food Grade Ethyl Alcohol Market?
Food grade ethyl alcohol is mainly formed from natural sources like corn, sugarcane, fruits, etc whose growth is quite high in countries like the US and India which itself are quite lucrative regions for this market. It has found its numerous use in the different sectors but the beverage sector is the most productive one.
There is a prime use of food-grade ethyl alcohol in the making of beer, wines, and other alcoholic products which have demanded all over the globe. The use of it in alcohol-based products is quite high as it’s a nice ingredient and quite economical to use for the manufacturers. This is the main sector of which is driving the growth of this market.
Apart from this, the use in the food additive market has also increased quite enough in recent past years. It is frequently being used in many food products. Also, it has found a strong application as a food preservative in the market. Consumers also favor it in different food products as it enhances the overall essence and appearance of the food. These all factors are driving the growth of this market.
What are the Opportunities for Key Players in Food Grade Ethyl Alcohol Market?
In the current scenario, the food-grade ethyl alcohol market is at the growth stage, and with the product development and innovation, it is finding its use in various products. One of the appealing opportunities for the key players in this market is to come up with various innovative and enhanced food flavors. Nowadays almost every food manufacturing company and specially packaged food companies use this as a food flavoring ingredient.
The innovation in this as a beneficial food ingredient for health-conscious consumers or even an elite taste-changing ingredient really opens a bulk of opportunity in this field.
Also, looking at the current situation, the sanitizer market has captured exponential growth from last year. The use of food-grade ethyl alcohol in sanitizers also has a great opportunity. Since it readily available and economical too, the use of this in sanitizer also opens up a great opportunity in the future.
What are the Effects of Covid-19 on Food Grade Ethyl Alcohol Market?
The covid-19 imparted a severe impact market. Due to global lockdown, most of the production units of this market were either minimized or closed for a while. Due to the crunch in the economy of the market, failure in supply chain management, most of the manufacturers faced losses. But this market garnered some positivity in the latter part of the lockdown.
The market has been showing a positive curve for the past few months as food-grade ethyl alcohol is now being used in the making of sanitizers and most of the manufacturers are supplying this to the essential industry. Hence, looking at all the factors of this market, it is expected to rise back quickly compared to other markets.
US and Canada Market Outlook
Most of the production of food-grade ethyl alcohol is done from sugarcane and corn and the US is among the highest producer of this. Also, the demand for beer, wine, or any other alcohol-based drinks is pretty high in both US and Canada. The North American region can be considered as a leader in the beverage sector.
A lot of major and minor adult-based drink companies are based in these countries. The youth lifestyle and culture are some of the main factors for the growth of it in this region. Looking at the current scenario of this market in North America, it is expected to grow at a substantial rate in the forecasted period.
Europe Demand Outlook for the Food Grade Ethyl Alcohol
The use of food-grade ethyl alcohol as an ingredient in various food products is quite profound in Europe. It is widely used and especially food as well as beverage sector. The use of it in alcohol-based drinks is quite common there and is the major driving force of this market.
Europe resides some of the major manufacturers of food-grade ethyl alcohol. They are a major key player in this market and it is expected to experience a decent CAGR in the forecasted period.
Who are the Key Manufacturers and Suppliers of Food Grade Ethyl Alcohol?
Some of the major key players of this market are Wilmar International, Manildra, Jiangsu Huating Biotechnology, RoquetteFreres, Fonterra Co-operative, Shree Renuka Sugars Limited, AppliChem GmbH, Balrampur Chini Mills Ltd. (Sugar Division), Archer Daniels Midland, Cargill, MGP Ingredients, Cristalco, Grain Processing, Shree Renuka Sugars Limited, AppliChem GmbH, and few others.
By End-Use Application
- Food & Beverages
- North America
- US and Canada
- Latin America
- New Zealand
- Middle-East & Africa
- South Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.