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Extra Neutral Alcohol Market Scope and overview, Set for Rapid Growth and Trend by 2022-2031

Extra neutral alcohol (ENA), also known as absolute alcohol, is a highly concentrated food grade alcohol, which can be produced from grain, sugarcane, corn, sugar beets, or other plant material. In Africa, it is majorly produced from sugarcane by fermentation of sugarcane juice and molasses with yeast, as it is the most economical process.

It contains 96% alcohol by volume, and is majorly used in the production of potable alcohol. Extra neutral alcohol has a neutral smell and taste. It is used as a basic alcohol in the production of distilled spirits such as vodka, whisky, gin, cane, liqueurs, and other alcoholic beverages. The South Africa extra neutral alcohol market size is expected to reach $1,064 million by the end of 2023.

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The growth of the extra neutral alcohol market is majorly driven by rise in consumption of alcoholic beverages. In addition, change in lifestyle & preference of consumers and the perception that consumption of alcohol is relaxing for the mind have led to increased consumption of alcoholic beverages. Moreover, rapid urbanization and increase in disposable income have enabled consumers to spend more on premium alcoholic beverages.

Furthermore, change in attitude towards drinking, western influence, and easy access to alcoholic drinks are other prominent factors that have increased the consumption of alcohol among youth, thereby driving the market growth. Thus, increase in global consumption of alcoholic beverages significantly boosts the growth of the South Africa extra neutral alcohol industry.

Ethanol is widely used as an essential ingredient in the manufacturing of several personal care and cosmetics products such as perfumes, air fresheners, toiletries, hair sprays, and others.

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Moreover, it is used as a solvent in the production of some varnishes, lacquers, paints, and inks for the printing industry. It also finds applications in pharmaceutical products such as antiseptics, drugs, syrups, and medicated sprays. Thus, increase in applications of ethanol is further expected to drive the market growth. Ethanol is a by-product of sugarcane; hence, high production potential of sugarcane and its by-products in Africa support the market growth.

However, higher excise duties, taxations, and implementation of stringent trade laws on ethanol hinder the growth of the extra neutral alcohol market. Furthermore, governments of various countries have drafted strict alcohol regulations, owing to rise in alcohol abuse in South Africa, which are expected to restrain the growth of the market in this region. The living conditions in Africa, mostly in sub-Saharan Africa, are considerably impacted due to inadequate or limited energy supply.

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Under such circumstances, production of biofuels, biopower, and bioproducts using ethanol serves as an ideal option to meet the energy requirements. Thus, the development of first- or second-generation biofuels from ethanol is anticipated to provide lucrative opportunities for the growth of the market in future.

The report segments the extra neutral alcohol market based on territory. The report analyzes the production and consumption of ENA in all the states of Southern Africa Development Community (SADC) and Common Market for Eastern and Southern Africa (COMESA) and Malawi. COMESA was the largest consumer, accounting for nearly half of the total consumption in 2016. In addition, the report briefs about market size, key market trends, growth factors, and opportunities for extra neutral alcohol in these territories.

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Key players profiled in the report include Illovo Sugar (Pty) Ltd., NCP Alcohols (Pty) Ltd., USA Distillers, Agro Chemical and Food Company Limited (ACFC), Sasol Solvents, Mumias Sugar Company, Tag Solvent Products (Pty) Ltd., Swift Chemicals (Pty) Ltd., Enterprise Ethanol, and Greenpoint Alcohols (Pty) Ltd.

KEY BENEFITS

The report provides an extensive analysis of the current & emerging market trends and opportunities in the South Africa extra neutral alcohol market.
The report provides a detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing market opportunities.
A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Extra Neutral Alcohol Market also experienced a slowdown. Statista estimates that the chemical industry’s total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the chemical industry generated revenues of US$ 5.4 trillion at a record high.

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The degree of competition among prominent global companies has been developed by analyzing several leading chemical market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

KEY MARKET SEGMENTS

By Territory

Malawi
Southern African Development Community (SADC)
Common Market for Eastern and Southern Africa (COMESA)

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Key questions answered in the Extra Neutral Alcohol Market report are:

How does a global company acquire markets?

What are its core strategies and policies?

What factors will influence the chemical market over the forecast period?

What are the factors driving and restraining the market for chemicals?

What are the leading competitors in the global market?

Which region is growing at a higher pace in the global market?’

This report covers aspects of the regional analysis market.

The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

This report analyzes current and future market trends by region, providing information on product usage and consumption.

Reports on the market include the growth rate of every region, based on their countries over the forecast period.

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What factors are taken into consideration when assessing the key market players?

The report analyzes companies across the globe in detail.

The report provides an overview of major vendors in the market, including key players.

Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.

This report includes a comparison of market competitors and a discussion of the standpoints of the major players.

Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.

What are the key findings of the report?

This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

The report offers the current state of the market and future prospects for various geographical regions.

This report provides both qualitative and quantitative information about the competitive landscape of the market.

Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.

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