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Food-Grade Alcohol Market Size was estimated at 34.13 (USD Billion) in 2022. The Food-Grade Alcohol Industry is expected to grow from 34.72(USD Billion) in 2023 to 40.51 (USD Billion) by 2032. The Food-Grade Alcohol Market CAGR (growth rate) is expected to be around 1.73% during the forecast period (2024 - 2032).
The Food-Grade Alcohol market has been witnessing steady growth in recent years, driven by rising demand from various industries such as pharmaceuticals, food and beverages, and personal care. In 2023, the market was valued at approximately USD 34.72 billion and is projected to reach USD 40.51 billion by 2032, exhibiting a CAGR of 1.73% during the forecast period. This growth is attributed to increasing health consciousness, rising disposable income, and expanding applications of food-grade alcohol in emerging economies. Additionally, the growing adoption of bio-based and sustainable alcohol production methods is expected to drive market expansion in the coming years. Recent news developments include the strategic partnership between Archer Daniels Midland Company and LG Chem to enhance the production of bio-based ethanol and the acquisition of Frutarom by IFF to strengthen its position in the food and beverage flavorings market. These developments highlight the ongoing consolidation and innovation within the Food-Grade Alcohol market.
https://www.marketresearchfuture.com/reports/food-grade-alcohol-market-40750
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