Grainge, who starts his new role as Universal Music Group's global CEO in July, picked up the biggest award of the night in recognition of an outstanding contribution to the music industry. He joins a list of winners that includes Chris Blackwell, Michael Eavis, Martin Mills and Tony Wadsworth.
Video tributes on the night came from Universal executives including Universal Music Group International executive VP Max Hole and Universal UK chairman and CEO David Joseph, as well as Pet Shop Boys, U2 and Gary Barlow.
Polydor's success reflected a year in which the Universal label has enjoyed hits with home-grown acts such as Take That, Cheryl Cole and James Morrison, as well as the standout new international act, Lady GaGa.
Bella Union was recognised for its achievements with Fleet Foxes, whose eponymous debut was the 38th biggest album of 2009, but also for nurturing acts such as Midlake and Beach House.
Epic Records' Nick Raphael and Jo Charrington's win reflected their work in taking JLS from X Factor runner up to million-selling album act, as well as their ongoing success with Lemar, who presented them with their award.
Detnon, who manages and produces Dizzee Rascal and is also the co-founder of the Dirtee Stank label, received the manager of the year award from Dizzee Rascal himself, after a year in which the artist has gone seamlessly from underground phenomenon to mainstream pop star.
The sold-out event took place at London's Hilton hotel tonight (Thursday), hosted by comedian Stephen K Amos. Attendees heard a short live set from Duffy, while Gary Barlow presented an award.
Music Week editor Paul Williams says, "I would like personally to congratulate all of the winners of the Music Week Awards 2010. I know personally from the awards the Music Week team oversaw that competition was fierce but I am confident we have chosen the right winners.
"2010 saw a new venue for the Music Week Awards in the shape of The Hilton hotel. Such changes are always a challenge but I am pleased to say it came off. Not only was the event a sell-out success, I think it was one of the best awards in recent years.
"Thank you to everyone who attended and made the event such a triumphant night."
Distributor of the Year: Proper Music Distribution
Independent Music Retailer of the Year: Rise Bristol Ltd
Specialist Music Retail Brand of the Year: Rough Trade Ltd
Mail-Order Online Retailer of the Year: Amazon
Non-Specialist Music Retailer of the Year: Tesco
Promotions Team of the Year (Sponsored by Neilson): Atlantic Records Promotions Team
Sales Team of the Year: PIAS UK
Music Mobile App of the Year: Spotify
Digital Artist Tool of the Year: SoundCloud
Consumer-Facing Digital Music Service of the Year: We7
Producer of the Year (Sponsored by PPL): Paul Epworth
Regional Radio Station of the Year (Sponsored by PPL): Kiss 100
National Radio Station of the Year (Sponsored by PPL): BBC Radio1
Studio of the Year: Abbey Road
Live Production Team of the Year: Capital Sound
Live Music Venue of the Year: FMG UK Ltd - The Assembly, Lemington Spa
Live Promotion Team of the Year: SJM
Festival of the Year: Creamfields
Catalogue Marketing Campaign of the Year: Jon Turner from Island Records, for 50th Anniversary of Island Records
Independent Artist Marketing Campaign of the Year: Pat Carr and Korda Marshall from Infectious Music, for The Temper Trap's Conditions
Artist Marketing Campaign of the Year: Kelly Ridgway from Polydor for Lady GaGa's The Fame
Music and Brand Partnership of the Year
Sponsored by CEC Music Ltd
Splendid Communications - Smirnoff Creative Grants
Music Sync of the Year (Sponsored by CEC Music Ltd): Universal Music Group / EMI Publishing / Howling Monkey for T-Mobile 'Dance'
PR Campaign of the Year: Caroline Crick from Decca Records for Dame Vera Lynn
Independent Breakthrough of the Year: Warp Records for Grizzly Bear's international Veckatimest album campaign
Independent Publisher of the Year: Kobalt
Publisher of the Year: Sponsored by Neilson
EMI Publishing: Independent Record Company of the Year
Sponsored by Sound Performance: Bella Union
Record Company of the Year: Polydor
The A&R Award (Sponsored by Metropolis Studios): Nick Raphael & Jo Charrington, Epic Records
Manager of the Year: Nick Detnon
The Strat: Lucian Grainge