Overview and Scope
Grain alcohol is a distilled neutral spirit made from fermenting grains such as corn, rye, wheat, grapes, grains, sugarcane, tubers, and beets and is used to make other alcoholic drinks such as wine, vodka, homemade liqueurs, and others. Grain alcohol is the purified form of ethyl alcohol, which is also known as ethanol, neutral grain spirit, or rectified spirit.
Sizing and Forecast
The grain alcohol market size has grown strongly in recent years. It will grow from <b>$13.88 billion in 2023 to $14.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. </b> 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 <b>$18.47 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. </b> 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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Segmentation & Regional Insights
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
<b>Europe</b> was the largest region in the grain alcohol market in 2023. <b>Asia-Pacific</b> 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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Major Driver Impacting 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.
Key Industry Players
Major companies operating in the grain alcohol market include <b> 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 </b>
The grain alcohol market report table of contents includes:
1. Executive Summary
2. Grain Alcohol Market Characteristics
3. Grain Alcohol Market Trends And Strategies
4. Grain Alcohol Market – Macro Economic Scenario
5. Global Grain Alcohol Market Size and Growth
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26. South America Grain Alcohol Market
27. Brazil Grain Alcohol Market
28. Middle East Grain Alcohol Market
29. Africa Grain Alcohol Market
30. Grain Alcohol Market Competitive Landscape And Company Profiles
Top Major Players:
- Archer-Daniels-Midland Company
- Cargill Inc.
- Kweichow Moutai Co. Ltd
- Roquette Frères SA
- MGP Ingredients Inc
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