The Grain Alcohol Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Grain Alcohol Global Market Report 2024, The grain alcohol market size has grown strongly in recent years. It will grow from $13.88 billion in 2024 to $14.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to traditional use of grain alcohol in beverage and spirits production, global demand for alcoholic beverages and spirits, cultural significance and consumption of spirits in various regions, expansion of the craft distillery and artisanal spirits industry, regulatory policies and licensing for alcohol production and distribution.
The grain alcohol market size is expected to see strong growth in the next few years. It will grow to $18.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to consumer interest in premium and high-quality alcoholic beverages, innovation in flavored and infused grain alcohol products, demand for ethanol in industrial and pharmaceutical applications, sustainable and organic grain sourcing for alcohol production, emerging markets and increasing affluence of middle-class consumers. Major trends in the forecast period include flavored and infused grain spirits, barrel-aged and specialty releases, cocktail culture and mixology, ready-to-drink (rtd) cocktails, local and terroir-driven spirits.
The increasing consumption of alcoholic drinks is driving the growth of the grain alcohol market. An increase in consumption of these beverages can be attributed to multiple factors, such as rising levels of disposable income and an increasingly urban population. For instance, in December 2022, according to NHS Digital, a UK-based government agency, in 2021, 79% of participants admitted to drinking alcohol in the previous 12 months, and 49% said they did so at least once per week and these numbers expected increase in future. Therefore, the increasing consumption rate of alcoholic beverages drives the grain alcohol market.
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The grain alcohol market covered in this report is segmented –
1) By Type: Ethanol, Polyols
2) By Source: Sugarcane, Grains, Fruits, Other Sources
3) By Functionality: Preservative, Colouring/Flavouring Agent, Coatings, Other Functionalities
4) By Application: Beverages, Food, Pharmaceutical And Health Care, Other Applications
Major companies operating in the emission control catalysts market are focusing on business expansion to meet the increased demand for high-purity alcohol. For instance, in February 2021, Grain Processing Corporation (GPC), a US-based manufacturer and marketer of corn-based products, opened a large, high-quality, efficient distillery in Muscatine, Iowa, for the production of alcohol. This distillery is capable of producing up to 1 million gallons of high-purity alcohol per year, and it is one of the largest and most efficient distilleries in the US. In order to enhance the quantity of value-added components manufactured from maize kernels, this expansion required thousands of engineering hours and made use of GPC’s workforce’s experience.
The grain alcohol market report table of contents includes:
- Executive Summary
- Grain Alcohol Market Characteristics
- Grain Alcohol Market Trends And Strategies
- Grain Alcohol Market – Macro Economic Scenario
- Global Grain Alcohol Market Size and Growth
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- Global Grain Alcohol Market Competitive Benchmarking
- Global Grain Alcohol Market Competitive Dashboard
- Key Mergers And Acquisitions In The Grain Alcohol Market
- Grain Alcohol Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- Archer-Daniels-Midland Company
- Cargill Inc
- Kweichow Moutai Co. Ltd
- Roquette Frères SA
- MGP Ingredients Inc
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