The modern-day document posted via Report Ocean, titled “South Africa Extra Neutral Alcohol Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023 to 2031,” affords a complete evaluation of the industry, which includes insights on the market trends. The file additionally consists of competitor and regional analysis, and present-day developments in the market. This document can serve as a fantastic information for investors, researchers, consultants, advertising strategists and all these who are planning to foray into the market in any form.
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. 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. 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.
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.
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COVID-19 Impact
In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.
The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.
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.
KEY MARKET SEGMENTS
By Territory
Malawi
Southern African Development Community (SADC)
Common Market for Eastern and Southern Africa (COMESA)
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the key questions answered:
- How has the adoption of Market impacted COVID-19?
- What are the key market tips in key areas?
- Which utilized sciences are most impacting the anticipated global enterprise?
- Who are the major global game enthusiasts in modern times dominating the Market?
- How do AI clients turn out to be conscious of technological knowledge in strolling theatres?
- What are the vital corporation fashions determined via way of the foremost market players?
- What are the key factors that will have an effect on the expand of Market globally?
- How foremost game enthusiasts in the Global corporation environment are incorporating key
- What is the present day income contribution of distinct product kinds in the market and what are the predicted changes?
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