The technique of moving-window two-dimensional heterospectral (MW2DHetero) correlation spectroscopy is proposed. This computational method is based on the ideas of perturbation-correlation moving-window two-dimensional (PCMW2D) correlation spectroscopy and two-dimensional heterospectral correlation analysis. Not only small spectral variations, but also detailed bands assignments were captured using the analysis. This method was applied to near-infrared (NIR) spectra in the 10 000–4000 cm−1 region and mid-infrared (mid-IR) spectra in the 5000–1200 cm−1 region, which were simultaneously detected using a dual-region spectrometer. Near-infrared and mid-IR spectra collected during an alcoholic fermentation process using a solution containing glucose and fructose were reported. Slight time differences for the consumption of sugars compared with the production of ethanol were found between 50 and 150 min. It was concluded that these slight time differences are evidence for different consumption times between glucose and fructose during the fermentation process. The result proved a possibility of the selective monitoring of the simultaneous reaction processes between productive and consumptive components.