Grain Alcohol Market will Surpass USD 15.6 Billion 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 Billion during the forecast period (2022-2032).
Distilling fermented grain yields grain alcohol and it’s made from a fermented blend of corn, sugar, yeast, and water. However, in addition to corn, other grains such as wheat and rye are used by the manufacturers. Grain alcohol is produced by fermenting carbohydrates in the grain with yeast. The ethanol is then distilled several times to make grain alcohol.
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Application of grain alcohol is rising due to changing lifestyles and rising middle-class population and disposable budgets. These undeveloped markets offer a large supply of low-cost labor, cutting-edge technology, and relatively lax rules on the usage of food-grade alcohol.
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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