Grain Alcohol Market will Surpass US$ 15.6 Bn through 2022 & Beyond as Application in Beverage Industry Rises According to Future Market Insights (FMI), the global grain alcohol market is expected to witness growth at a CAGR of 4.2%, surpassing US$ 22.2 Bn during the forecast period (2022-2032).
Grain alcohol is produced by distilling fermented grain, which is a mixture of fermented maize, sugar, yeast, and water. However, producers also use other grains like wheat and rye in addition to corn. By using yeast to ferment the grain’s carbohydrate content, grain alcohol is created. To create grain alcohol, the ethanol is distilled many times.
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Due to changing lifestyles, a growing middle-class population, and increased disposable income, grain alcohol use is increasing. These developing markets provide a plentiful supply of cheap labour, cutting-edge technology, and relatively lenient laws on the use of alcoholic beverages of the highest quality.
Sugarcane, cereals, corn, and other fruits and vegetables are abundant natural sources of grain alcohol, especially in African, Asian, and Latin American countries.
Key Takeaways from Market Study
- The grain alcohol market is expected to expand at CAGR of 4.2% over the forecast period.
- Among the source, corn is dominating the segment holding around 41.6% of the revenue and it is expected to grow with CAGR of 2.6% over the forecasted period.
- Among the functionality segment, disinfectant segment is expected to dominate the application segment holding more than 31.2% revenue share and it is expected to grow with around 2.3% CAGR over the forecast period.
- Ethanol is dominating the type segment holding around 46.7% in 2022 and it is expected to grow with CAGR of 3.7% over the forecasted period.
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“Grain alcohol sales are expected to increase across the globe due to varied application like disinfectant, personal care products, health care, and beverages. Hence, manufacturers are focusing on developing attractive products to cater to the growing demand.” says a Future Market Insights analyst.
Competitive Landscape
Key manufacturers of grain alcohol market are majorly focusing on research & development in order to develop innovative and unique product offering. In addition to this these key players in the grain alcohol market are also concentrating on merger, acquisition and joint ventures to expand their geographical presence and also to increase the existing production capacity.
- In January 2021 MGP Ingredients, Inc. signed a definitive agreement to buy Luxco and its subsidiary firms. Luxco is a renowned branded beverage and alcoholic beverage firm with an extensive product portfolio. MGP Ingredients plans to expand its scale and market position in the branded-spirits sector as a result of the Luxco purchase.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global grain alcohol market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on source (Corn, Fermented plant materials, Grains, Grapes, Sugarcane, Sugar beets, Tubers), by Application (Beverage, Food, Pharmaceutical, Health Care and Personal Care), by Functionality (Preservative, Solvent, Disinfectant, Antiseptic) by Type (Ethanol and Polyols) across seven major regions of the world.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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