According to MarketsandMarkets, the global grain alcohol market size is estimated to be valued at USD 12.2 billion in 2021 and is projected to reach USD 14.9 billion by 2026, recording a CAGR of 4.1% during the forecast period.
Grain alcohol is a distilled neutral spirit made from fermenting grains. It is considered the purest form of ethyl alcohol, which is also called neutral grain spirit, ethanol, or rectified spirit. It is a psychoactive drug widely used as a recreational drug in food & beverages, pharmaceutical products, and industrial solvents.
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The beverages segment is projected to dominate the market by application. Fermentation of fruits, grains, and cereals, among others results in the formation of ethanol which is used in manufacturing alcoholic beverages such as beer, wine, and spirits. The concentration of the beverages is measured on the basis of ethanol content and using alcohol by volume (ABV) unit. Sorbitol is used in manufacturing wine and other flavored alcoholic beverages. Beer is the world's most widely consumed alcoholic beverage, and the third-most popular drink overall, after water and tea. Global beer consumption is mainly driven by growing disposable income, improvements in the quality of beer, marketing & advertising activities, and a steadily growing beer-consuming population base.
The sugarcane segment in the grain alcohol market is projected to have a larger market size during the forecast period. The global market for grain alcohol in terms of the source is segmented into sugarcane, grains, fruits, and other sources, based on their source of origin. Sugarcane and molasses are the two sources for the production of ethanol, in the form of absolute and rectified spirit. The continuously low production price of raw sugar in the global market has led to increasing in the production of ethanol from sugarcane and molasses. The new market opportunities include the production of ethanol of the appropriate grade for industrial chemicals and for alcoholic beverages.
In terms of geographical coverage, the grain alcohol market has been segmented into four regions, namely, North America, Asia Pacific, Europe, and the Rest of the World which includes South America and Africa & the Middle East. Europe is the largest market for grain alcohol, in terms of volume. The presence of a large food & beverage industry offers the European food-grade alcohol market a prominent consumer base with opportunistic growth prospects. Europe is one of the largest markets for sugar polyols. As consumers’ demand for low-calorie food is high, the food industry prefers the use of sugar polyols, which are similar to sugar but with low-calorie value. Additionally, beer, wine, and spirits are highly consumed under the influence of European traditions and cultures. According to the World Health Organization (WHO), this region has the highest alcohol intake and per capita consumption twice as high as the world average.
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The key players in this market include ADM (US, Cargill (US), Wilmar Group (Singapore), Merck Group (Germany), and Roquette Frères (France). These players in this market are focusing on increasing their presence through agreements and collaborations. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
