(PharmaNewsWire.Com, February 06, 2020 ) The food grade alcohol market was valued at USD 9.9 billion in 2015 and is projected to grow at a CAGR of 3.9% to reach USD 12.8 billion by 2022. Food grade alcohol plays a major role in the manufacture of flavors, extracts, yeast, and other food products. Factors such as an increase in the disposable income, betterment in the quality of beverages, and advanced marketing activities have led to an increase in global beverage consumption. Owing to the increasing demand for beverages and trade in alcohol alongside expansions in emerging markets like India, China, and Brazil, the market offers potential growth opportunities in the near future.
The key players in the food-grade alcohol market include Cargill (U.S.), MGP Ingredients (U.S.), Archer Daniels Midland Company (U.S.), Wilmar International Limited (Singapore), and Roquette Freres S.A. (France). Other players which include Sigma-Aldrich, Co. LLC (U.S.), Cristalco S.A.S (France), Manildra Group (Australia), Grain Processing Corporation (U.S.), and Fonterra Co-operative Group (U.S.) also have a strong position in the global food-grade alcohol market.
Key strategies such as expansions & investments, acquisitions, agreements & investments, and new product developments have been adopted by the key players to meet the increasing demand of food-grade alcohol by the food & beverages and health care & pharmaceutical manufacturers due to its functional properties. The leading players are investing in R&D capabilities to offer diversified product portfolios and strengthen their market position.
Strategic expansions & investments and acquisitions are the core strengths of the leading players of food-grade alcohol market to increase their market presence to reach customers. These core strengths help the players to diversify their business geographically, strengthen distribution networks, and enhance their product portfolios. Market leaders such as Cargill (U.S.), MGP Ingredients (U.S.), Archer Daniels Midland Company (U.S.), Wilmar International Limited (Singapore), and Roquette Freres S.A. (France) have successfully tapped the potential markets through agreements, acquiring certifications, and new product developments. The companies are focusing on offering innovative products for food-grade alcohol for various applications to maintain their position in the market.
Cargill (U.S.) is a leading company working in food, agriculture, financial & industrial, pharmaceutical, and personal care products & services with more than 150 years of industry experience. The company is one of the leaders in manufacturing of alcohol and distilleries for both beverage and industrial purposes. Cargill works in close cooperation with its customers to provide them the best ethanol meeting their requirements, enhancing the products and ensuring consistent quality. Cargill manufactures varied standards of ethanol, which finds application in the beverage industry, as well as in the pharmaceutical, energy, food products, chemical, and personal care sectors. In May 2016, Cargill (U.S.) expanded its production capacity of ethanol by opening a new Cargill plant in Barby, Germany. This expansion helped to expand its ethanol expertise in Europe and serve their customers throughout the region. It would also help the company to meet the increasing requirement of ethanol products in the European region and gain advantage of the food-grade alcohol market trend.
The Archer Daniels Midland Company (ADM) (U.S.) is one of the world’s largest processers and suppliers of starch and derivatives, which are used for applications such as food, feed, paper, pharmaceuticals, bio-ethanol, and other industrial applications. The company operates in more than 140 countries through 272 processing plants and more than 470 crop procurement facilities, where cereals, grains, and oilseeds are processed into products that are used in the food, beverage, nutraceutical, industrial, and animal feed markets. In December 2012, the company signed an agreement with Kinder Morgan, Inc. (U.S) and Bailey Feed Mill (U.S.) to produce new ethanol hub in North Carolina. Also, in August 2014, ADM opened global headquarters and customer center in Chicago, U.S. to reach the global markets easily and keeping a close contact with the U.S. farmers, customers, and operations. ADM aims to increase its business in most countries to develop a significant global network by adopting expansions as its strategy. The company also aims to expand its sourcing, storing, transporting, transforming, processing, marketing, and distributing facilities to serve its consumers better.
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