Grain Alcohol Market by Type (Ethanol, Polyols), Application (Food, Beverages, Pharmaceutical & Healthcare), Source (Sugarcane, Grains, Fruits), Functionality (Preservative, Coloring/Flavoring Agent, Coatings), and by Region - Global Forecast to 2026

Northbrook, IL -- (SBWire) -- 03/03/2022 --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. Various factors have played a major role in driving the market growth across the globe. The effects of rapid westernization & urbanization have led to the rising demand for grain alcohol in countries other than Europe and the US. A sharp increase in consumer demand for food products containing grain alcohol and rising demand from the food processing industry is also propelling the market.

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The market for grain alcohol is largely associated with the sale of beverage products. Increasing sales of a variety of beverage and health & personal care products in matured markets of developed economies in the last five years are responsible for the increased growth of the grain alcohol industry.

The key players in the industry are adopting growth strategies in emerging countries by enhancing their research capabilities to further develop their product portfolio and strengthen their distribution base. The key players of the grain alcohol industry are focusing on tapping the emerging markets in regions such as Asia Pacific, Latin America, the Middle East, and Africa. Growth in these developing regions over the next few years exhibits promising opportunities for business expansions. Hence, the players in this market can tap new markets to gain profits.

Impact of Covid-19 on Global Grain Alcohol Market:

A rapid and unexpected disruption in supply chains during the pandemic resulted in manufacturers, suppliers, and retailers struggling to ensure a continued supply of raw materials and ingredients in this market. Even though the demand for grain alcohol has not been affected, the supply has been significantly impacted by the COVID-19 pandemic. Lockdowns across the globe in 2020 and continuing restrictions in 2021 have disrupted the supply chain posing challenges for production companies, which have been affected by rules on social distancing and labour shortages due to sickness.

At the same time, an upheaval across the pharmaceutical and health care industries is sustaining the demand for grain alcohol. Since the pandemic's onset, hand sanitizer and disinfectant sales have risen exponentially, with consumers hoarding vast quantities of sanitizer sachets and bottles. Most of these disinfectants and sanitizers use ethanol in conjunction with other alcohol variants. As a result, the market is slated to witness healthy growth in the upcoming forecast period.

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The European grain alcohol market is the largest in the world, and despite very high per capita consumption levels, market growth has remained attractive and stable. The presence of a large food & beverage industry offers the European grain alcohol market a prominent consumer base with opportunistic growth prospects. The market in this region is estimated to be driven by development in the Eastern & Southeastern European countries. Europe is the 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. These sugar polyols act as bulking agents, which provide the mass required and sweeten the product without adding any additional calories.

Key players in this market include ADM (US), Cargill (US), Merck Group (Germany), Roquette Frères (France), MGP Ingredients (US), Cristalco (France), Grain Processing Corporation (US), Wilmar Group (Singapore), Manildra Group (Australia), Glacial Grain Spirits (US)

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