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Grain Alcohol Global Market Report 2024 - By Share, Trends, Demand, Forecast By 2033
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Grain Alcohol industry. This report on Grain Alcohol market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The grain alcohol market size has grown strongly in recent years. It will grow from $13.88 billion in 2023 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%.
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Key Market Players:
Archer-Daniels-Midland Company, Cargill Inc., Kweichow Moutai Co. Ltd., Roquette Frères SA, MGP Ingredients Inc.
Market Drivers:
According to the Grain Alcohol Market Report 2024 by The Business Research Company, 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.
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Market segments for Grain Alcohol include:
• By Type: Ethanol, Polyols
• By Source: Sugarcane, Grains, Fruits, Other Sources
• By Functionality: Preservative, Coloring/Flavoring Agent, Coatings, Other Functionalities
• By Application: Beverages, Food, Pharmaceutical And Health Care, Other Applications.
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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