LONDON, April 21, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on grain alcohol market, increasing research and development is a key trend gaining popularity in the market. grain alcohols. Companies in the grain alcohol market are focusing on developing new flavors and varieties based on ethnic tastes. For example, in 2020, Diageo, a UK-based beverage company, announced the launch of a new research and development center in Shanghai to further its innovation and product development goals in China. The first of its kind in the liquor industry in Shanghai, will help the Chinese market and strengthen Diageo’s ability to rapidly create and develop high-end products that meet the tastes of Chinese consumers. The research center was established with the aim of manufacturing a strong portfolio of products developed in China based on local consumer knowledge and trends.
The major players in the grain alcohol market are Archer-Daniels-Midland Company, Cargill, Inc., Kweichow Moutai, Roquette Frères, MGP Ingredients, Inc, Cristalco, Wilmar Group, Manildra Group, Glacial Grain Spirits, Wuliangye Yibin Co., Diageo Plc. , Altria Group, Pernod Ricard, ChemCeed, Ethanol US, NuGenTeca and Pinal Energy LLC.
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The global grain alcohol market share is expected to increase from $12.63 billion in 2021 to $13.31 billion in 2022 at a compound annual growth rate (CAGR) of 5.33%. The growth of the global grain alcohol industry is primarily driven by the reorganization of business operations and recovery from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, working remotely and the closure of business activities that have resulted in operational challenges. . The market should reach $16.37 billion in 2026 to CAGR of 5.32%.
The growing consumption of alcoholic beverages is driving the growth of the grain alcohol market. An increase in the consumption of these beverages can be attributed to several factors, such as rising levels of disposable income and an increasingly urban population. For example, in 2020, according to the US government, there was a 60% increase in alcohol consumption compared to the pre-pandemic period. The main reasons for the increase in alcohol consumption are increased stress (45.7%), increasing availability of alcohol (34.4%) and boredom (30.1%). Alcohol consumption per capita is expected to increase from 5.9 liters of original alcohol per year in 1990 to 7.6 liters in 2030.
The global Grain Alcohol market research report is segmented by Source into Sugarcane, Cereals, Fruits, Others; by type in ethanol, polyols; by application in beverages, foods, pharmaceuticals and healthcare, other; by functionality as a preservative, coloring/flavouring, coatings, other.
According to grain alcohol market analysis, in 2021, Europe was the greater region on the market. Asia Pacific should be the fastest growing region in the global grain alcohol market over the forecast period. Regions covered in the global grain alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle -East and Africa.
Grain Alcohol Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provide insights into the grain alcohol market, Analyze the Grain Alcohol Market and forecast market size and growth for the overall market, Grain Alcohol Market segments and geographies, Grain Alcohol Market trends, Market drivers of Grain Alcohol, Grain Alcohol Market Constraints, Revenues, Profiles and Market Shares of Key Competitors in 1,000+ Industry Reports, Covering 2,500+ Market Segments and 60 Geographies .
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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