FOOD GRADE ALCOHOL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The food grade alcohol market faces several challenges. Stricter regulations around alcohol concentrations are restricting product launches. Additionally, health consciousness is shifting the consumer preference towards low-alcohol or alcohol-free beverages. The production of food grade alcohol requires adherence to quality and purity guidelines set by regulatory bodies which increases operational costs. Fluctuating agricultural commodity prices also impact production costs. Supply chain disruptions due to COVID-19 have temporarily disrupted market dynamics though demand has remained steady overall.
Market Opportunities: Increasing prevalence of on-the-go lifestyles and demand for functional drinks
The market sees several opportunities for growth. Increasing prevalence of on-the-go lifestyles and demand for functional drinks have pushed the development of products containing food grade alcohol as an ingredient. Emerging markets across Asia Pacific and Latin America present a lucrative consumer base.
Food Grade Alcohol Market Report Snapshots
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