Grain Alcohol Market 2022 - Market Size & Forecast,
Industry Trends, Manufacturers Analysis, & Opportunities 2030
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The global grain alcohol
market is anticipated to expand at a compounded annual growth rate (CAGR) of 4.5%
during the forecast period of 2022-2030.
Grain alcohol, also called
ethanol, rectified spirit, or neutral grain spirit is a twice distilled neutral
spirit derived from fermenting grain. It is the fine, purified form of ethyl
alcohol that can be made from corn, rye, wheat, grapes, grains, sugarcane,
tubers, and beets. It is sold worldwide under various brand names, including
Everclear, Alcohol-95, and Golden Grain.
Grain-based alcohol is primarily
used for the production of white spirits such as vodka and gin. However, it is
also used as a food color, preservative, or coating in various end products.
Covid-19
Impact on Grain Alcohol Market:
The global grain alcohol
market has been positively affected by the Covid-19 pandemic. Sanitizers and
disinfectants are predominantly formulated using ethanol and other variants of
alcohol. Since the coronavirus outbreak in 2019, the demand and usage of these hand
sanitizers and disinfectants have soared at new levels all across the globe,
which has proven beneficial and aided in the fueling of the growth of the
global grain alcohol market.
Growth Drivers:
The rapidly surging
consumption and production of a variety of different alcoholic beverages across
the globe; the proliferating demand for food products containing grain alcohol
among consumers across the globe; the growing effects of rapid westernization
& urbanization leading to the rising demand for grain alcohol in various
countries; the increasing demand from the food processing industry: the rising
production & consumption of food & beverage products; and the burgeoning
demand for pharmaceuticals & disinfectants are factors primarily driving
the growth of the global grain alcohol market.
Additionally, the application of grain alcohol as coatings,
preservatives, or food color, in the end products across various end-user industries,
including health & personal care and food & beverages, is rising
tremendously across the globe. Due to this increasing application, their demand
across these end-user industries is gaining swift momentum, which is providing
considerable impetus to the growth of the market.
Moreover, the leading players present in the grain
alcohol market are witnessed to be adopting several growth strategies,
especially in the developing nations across the globe in order to enhance their
product portfolios and also their geographical footprints. They are investing
in the advancement of their research capabilities, getting engaged in mergers
& acquisitions, partnerships and collaborations to achieve their goals,
which is boding well for the overall growth of the market.
Furthermore, other factors such as the increasing
middle-class population; the changing lifestyles and growing disposable incomes
of people; the wide availability of natural sources of grain alcohol in the
developing countries, and the rising popularity and demand of craft and local
beer are expected to further provide ample growth opportunities for the growth
of the global grain alcohol market during the forecast period.
However, the growing awareness regarding the harmful
effects of alcohol consumption and the surging prices of raw materials are
anticipated to hinder the growth of the global grain alcohol market to some
extent during the forecast period.
Grain Alcohol Market Segmentation:
By Type:
·
Ethanol
·
Polyols
By Application:
·
Beverages
·
Food
·
Pharmaceutical & Health
Care
By Source:
·
Sugarcane
·
Grains
·
Fruits
·
Other Sources
o
Corn
o
Rice
By Functionality:
·
Preservative
·
Coloring/Flavoring Agent
·
Coatings
·
Other Functionalities
o
Solubility
o
Antifreeze
o
Flammability
o
Volatility
By Region:
Based on type,
the polyols segment is anticipated to register the highest growth in the market
during the forecast period. The increasing application of different types of polyols
in the food & beverage industry across the globe is majorly ascribed to the
segment’s high growth.
Based on
application, the beverages segment is predicted to attain the highest CAGR in
the market during the forecast period. The growing production, consumption, and
demand of different alcoholic beverages around the world is the major factor
propelling the growth of this segment.
Regional
Outlook:
The European
region captured the largest share of the global grain alcohol market in 2021.
The region is expected to retain its position further in the market throughout
the forecast period of 2022-2030. The large share and growth of the market in
the region can be attributed to the existence of a large food & beverage
industry in the region; the presence of a large consumer base and leading
market players in the region; the high per capita consumption levels and the expanding
polyols market owing to the consumers’ rapidly growing demand for low-calorie
food in the region. Countries such as the U.K, Germany, France, and Italy are
the major contributors to the growth of the market in the region.
The Asia
Pacific region is poised to emerge as the fastest-growing regional market for
grain alcohol during the forecast period. Factors such as the rising demand and
consumption of alcoholic beverages in the region; the ever-increasing population;
rapid urbanization; the burgeoning consumption of food & beverage products;
and the advent of new and innovative alcohol products to cater to the changing
demands of the people are mainly attributed to the growth of the market in the
region. India, China, and Australia stand as the major contributors to the
growth of the market in the region.
Key Companies in
Grain Alcohol Market:
·
Grain Processing Corporation
·
Wilmar Group
·
Cargill
·
Merck Group
·
Manildra Group
·
ADM
·
Roquette Frères
·
MGP Ingredients
·
Cristalco
·
Glacial Grain Spirits
· Other Players