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Grain Alcohol Global Market Report 2024 by The Business Research Company | Archer-Daniels-Midland Company, Cargill Inc., Kweichow Moutai Co. Ltd., Roquette Frères SA, MGP Ingredients Inc., Cristalco SAS, Wilmar International Limited, Manildra USA, Glac
Grain Alcohol Market Size
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.
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Grain Alcohol Market Major Segments
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
Key Driver - Elevated Alcoholic Drink Consumption Boosting Grain Alcohol Market Growth
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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Prominent Trend - Expansion Initiatives In Emission Control Catalysts Market To Meet Growing Demand For High-Purity Alcohol
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.
Grain Alcohol Market Players
Major companies operating in the grain alcohol market include Archer-Daniels-Midland Company, Cargill Inc., Kweichow Moutai Co. Ltd., Roquette Frères SA, MGP Ingredients Inc., Cristalco SAS, Wilmar International Limited, Manildra USA, Glacial Grain Spirits LLC, Wuliangye Yibin Co., Diageo plc, Altria Group Inc., Pernod Ricard SA, ChemCeed LLC, Ethanol US, NuGenTec LLC, Pinal Energy LLC, Pacific Distillery LLC, Teichene SA, Duplais Verte, La Fée Absinthe, Kübler Absinthe Superieure, Hill's Liquere North America, La Clandestine, Doubs Mystique, Butterfly Absinthe, Lucid Inc., Metelka AS, C.F. Berger Ltd., Jade Nouvelle Orleans
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Largest And Fastest Growing Region In The Market
Europe was the largest region in the grain alcohol market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the grain alcohol market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Grain Alcohol Market Report Structure
3. Grain Alcohol Market Trends And Strategies
4. Grain Alcohol Market - Macro Economic Scenario
5. Grain Alcohol Market Size And Growth
…..
27. Grain Alcohol Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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