Extra Neutral Alcohol Market: Overview
Several grades of alcohols are available in the market. These include fuel grade and industrial grade. Extra neutral alcohol (ENA) is a food grade alcohol, which is highly distilled and contains nearly 96% of alcohol by volume. This alcohol is used to manufacture potable alcoholic beverages such as vodka, gin, and rum. Extra neutral alcohol (ENA) is produced by fermenting sugarcane molasses or grains using yeast and distilled multiple times to produce a colorless and odorless alcohol. Rising demand for alcoholic beverages across the globe is fuelling the demand for extra neutral alcohol (ENA) globally. Alcohol consumption is becoming more and more prevalent due to higher disposable incomes, changing attitude of people towards drinking and drinking becoming more socially acceptable. Alcohol consumption was more in European countries; however, this trend has changed over the last few year. Consumption of alcohol has declined in Europe and North America and is increasing in developing countries such as India in Asia Pacific.
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Extra Neutral Alcohol Market: Key Segments
Based on raw material used, the extra neutral alcohol (ENA) market can be bifurcated into grain-based and sugarcane-based. In terms application, the extra neutral alcohol (ENA) market can be divided into potable alcohol, flavors & fragrances, pharmaceuticals, cosmetics, and others. The potable alcohol segment dominates the global extra neutral alcohol (ENA) market. A major share of the extra neutral alcohol produced goes into the making of alcoholic beverages and potable alcohol. Extra neutral alcohol (ENA) is used as a carrier in a wide range of medicines in the pharmaceutical industry. It is also used to manufacture disinfectants, sprays, and syrups. Additionally, it is used as a solvent in paints and printing industries.
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Extra Neutral Alcohol Market: Regional Outlook
In terms of region, the global extra neutral alcohol (ENA) market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific dominates the global extra neutral alcohol (ENA) market. In terms of consumption, North America and Europe hold significant share of the extra neutral alcohol (ENA) market. Latin America and Middle East & Africa constitute small share of the extra neutral alcohol (ENA) market. These regions are estimated to create opportunities in the extra neutral alcohol (ENA) market during the forecast period. South Africa and India are projected to create lucrative opportunities in the extra neutral alcohol (ENA) market, as a large number of extra neutral alcohol (ENA) producers and distillers that produce alcoholic beverages are present in these countries. The alcohol industry in India is growing at a rapid pace. The country is a major producer of alcohol in Asia. These countries are likely to be in focus over the next few years and lead the demand growth globally.
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Extra Neutral Alcohol Market: Key Players
Key players operating in the global extra neutral alcohol (ENA) market include Illovo Sugar Ltd., NCP Alcohols, USA Distillers, Sasol Solvents, Mumias Sugar Company, Agrochemical and Food Company Ltd (AFCL), Kakira Sugar Works Ltd (KSW), Tag Solvent Products, Swift Chemicals, and Greenpoint Alcohols.
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