Grain Alcohol Global Market Report 2024: In-Depth Analysis with Predictions and Trends

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What Impact Does Growing Demand for Alcoholic Beverages Have on the Grain Alcohol Market?

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 the 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, and regulatory policies and licensing for alcohol production and distribution.

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What is the Forecasted Growth Rate and Size of the Grain Alcohol Market?

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, and local and terroir-driven spirits.

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What Are the Crucial Factors Propelling the Growth of the Grain Alcohol Market?

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. These numbers are expected to rise in the future. Therefore, the increasing consumption rate of alcoholic beverages drives the grain alcohol market.

Who Are the Key Players in the Grain Alcohol Market?

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, Teichenne 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.

What Major Developments Are Occurring in the Grain Alcohol Market?

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.

How is the Grain Alcohol Market Segmented?

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

Which Regions Are Prominent in the Grain Alcohol 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.

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