Global Grain Alcohol market research 2024, Forecast To 2033

The grain alcohol market has witnessed substantial growth, increasing from $13.88 billion in 2023 to $14.58 billion in 2024, with a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period is attributed to the traditional use of grain alcohol in beverage and spirits production, global demand for alcoholic beverages and spirits, cultural significance and consumption of spirits in various regions, expansion of the craft distillery and artisanal spirits industry, and regulatory policies and licensing for alcohol production and distribution. Projecting robust growth in the next few years, the market size is expected to reach $18.47 billion in 2028, driven by a CAGR of 6.1%. Growth in the forecast period is attributed to consumer interest in premium and high-quality alcoholic beverages, innovation in flavored and infused grain alcohol products, demand for ethanol in industrial and pharmaceutical applications, sustainable and organic grain sourcing for alcohol production, emerging markets, and increasing affluence of middle-class consumers. Major trends in the forecast period include flavored and infused grain spirits, barrel-aged and specialty releases, cocktail culture and mixology, ready-to-drink (RTD) cocktails, and local and terroir-driven spirits.