Global Grain Neutral Spirits Market Outlook
The global alcohol consumption has been increasing continuously, especially in developed regions of North America and Europe. Though the consumption share of beer is higher, the wine and spirit segment has been witnessing faster growth in terms of consumption. The revenue sales of spirits in the global stage increased by 43% over a five-year timeline, i.e. between 2007 and 2011. Owing to changing trend of consumption of spirits, a rise in demand for high purity alcohols, especially from the manufacturers’ side, has been witnessed. Grain Neutral spirits have alcoholic strength of more than 95.0% v/v min. Grain neutral spirits consist of various kinds of grain alcohol, which is produced through repeated fermentation and distillation of wheat, rye and other such grains.
Global Grain Neutral Spirits Market: Reasons for Covering this Title
According to the recent stats, the global consumption of spirits and wines has been on the rise. Brandy consumption, excluding Cognac and Armagnac, shot up by 23.4% between 2007 and 2014. Similarly, rum has always been one of the favorite beverages, accounting for a higher share of consumption among the spirits segments. The global wine and spirits market is being driven by a rise in consumption rate of gin (+ 3.7%), tequila (+5.2%) and whiskey (1.7%). On the other hand, Grain Neutral spirits are used on a large scale as raw material alcohol in the production of spirits, such as vodka, gin, etc. Grain neutral spirits help to maintain the flavor of alcohol, having at least 95.0% v/v min alcoholic strength. Hence, the rise in consumption of wines and spirits will help drive the demand for grain neutral spirits.
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Global Grain Neutral Spirits Market: Key Takeaways
Over the forecast period, Asia Pacific is anticipated to account for higher consumption of spirits, surpassing all other markets, which will create opportunities in Grain Neutral spirits market in terms of value and volume sales in the region.
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Global Grain Neutral Spirits Market: Key Players
Some of the key players operating in the global Grain Neutral Spirits market are Cargill Inc., Sasma BV, Ethimex Ltd., Tarr, LLC , Grain Processing Corporation, Revolvy, Ultra Pure, LLC (Signature Spirits), Grainotch Industries ltd., Terressentia Corporation, Ethanol Trading Corporation, MGP Ingredients, Inc. Thai Beverage Plc , among others
Key Trends: Global Grain Neutral Spirits Market
Major shareholding companies have been strategizing on innovation by coming up with different unique types of grain neutral spirits to cater to the varying preference of target customers. Owing to rising demand for grain neutral spirits, companies are also strategizing on acquiring other companies to increase their production capacities.
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Global Grain Neutral Spirits Market: Key Developments
- In the year 2013, MGP Ingredients, Inc., owing to rising demand and growing consumer preference for grain-based alcohol, added grain neutral spirits (GNS) distilled from wheat, to its product portfolio
- In the year 2010, Thai Beverages Plc, acquired Yunnan Yulinquan Liquor Co. Ltd. (YLQ), a local white spirits distillery located in Eshan district in Yuxi town. Through this acquisition, Thai Beverages Plc acquired the company, which has a production capacity of 5,000 tons annually
Opportunities for Grain Neutral Spirits Market Participants
In the global Grain Neutral Spirits market, North America and the Asia Pacific witness highest rate of consumption of grain-based spirits and other non-alcoholic beverages. In countries, such as India, a rise in consumption of grain-based beers as well as whiskeys is being witnessed. This on-going trend will provide excellent opportunities for Grain Neutral Spirit manufacturers. Moreover, consumers crave naturally derived cosmetic products, especially in Europe and south-east part of Asia. And as a matter of fact, Grain Neutral Spirits are being considered as one of the main ingredients for these types of product, which will indirectly create opportunities for Grain Neutral Spirits in the cosmetic industry.
