Press release
Extra Neutral Alcohol Market Global Production, Growth, Share, Demand and Applications Forecast 2021 to 2030
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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Competitive Landscape
The extra neutral alcohol market, which is highly competitive, consists of a few major players. Some of the major market players include 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 Swift Chemicals among others.
Over the period of time there have been various developments taken place in the market in terms of product launch, technological advancement, strategic collaboration and others which further enhance the market growth. For instance, in April 2019, NCP Alcohols achieves two Grand Gold Quality Awards for their products, Ethanol and Lights Spirits, entered into the 2019 Monde Selection International Quality Institute’s World Quality Selection.
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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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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