Press release
Extra Neutral Alcohol Market is predicted to reach USD 3.77 billion by 2030 with a CAGR of 6.9%
Extra Neutral Alcohol is a food grade alcohol which is highly distilled in nature and consists of 96% of alcohol by volume. It is produced from grains and sugarcane molasses, extra neutral alcohol is colorless and odorless in nature. It is mostly used in alcoholic beverages and it can also be used in cosmetics, personal care, preservatives and many more.
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Top Companies: NCP Alcohols, Illovo Sugar Ltd., Sasol Solvents, USA Distillers, Agrochemical and Food Company Ltd (AFCL), Mumias Sugar Company, Tag Solvent Products, Kakira Sugar Works Ltd (KSW), Greenpoint Alcohols and others.
Market Dynamics and Trends
The modernization and improvement of food and beverage industry over the period coupled with increase in technological advancement. Furthermore, developed infrastructure and wide applications coupled with increase in disposable income are expected to further promote the growth of extra neutral alcohol market.
The other factors include developments in sugarcane industry coupled with increased demand of alcohol and alcohol consumption with rapid urbanization is also expected to drive the market growth. However, increase in alcohol abuse and stringent government policies with high taxes are expected to hamper the growth of extra neutral alcohol market. Furthermore, innovations, research and developments and increasing demand from different industries are expected to create ample opportunities in the extra neutral alcohol market.
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Market Segmentations and Scope of the Study:
The global extra neutral alcohol market share is analyzed on the basis of raw material, application and geography. On the basis of raw material, the market is segmented into grain based and sugarcane based. On the basis of application, the market is divided into flavors & fragrances, potable alcohol, cosmetics, pharmaceuticals, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America is expected to hold the major market share owing to the increased adoption of extra neutral alcohol with wide applications. Furthermore, increased demand of alcoholic beverages coupled with technological advancement and development of infrastructure are further expected to fuel the growth of extra neutral alcohol market over the forecast period.
Asia Pacific is expected to show increasing market share with tremendous growth over the forecast period owing to the increase in disposable income and development in sugarcane industry. Furthermore, rapid urbanization with increasing demand of various products such as cosmetics, fragrances and other daily use products are further expected to support the growth of extra neutral alcohol market.
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Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solution that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
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