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South Africa Extra Neutral Alcohol Market By Application (Potable Alcohol, Flavors & Fragrances, Pharmaceuticals, Cosmetics, and Others); By Raw Material (Grain-Based and Sugarcane-Based) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
South Africa Extra Neutral Alcohol Market size was registered at USD 0.81 Billion in 2019, and is estimated to reach USD 1.7 billion by 2030, registering a CAGR of 7.20% from 2019 to 2030.
Extra neutral alcohol is a highly distilled food-grade alcohol which contains almost 96 percent of alcohol per volume. There are various types of alcohol on the market which include grade fuel and grade manufacturing. This alcohol is used for producing alcoholic beverages such as vodka, gin, and rum. Extra neutral alcohol is produced by fermenting molasses or grains of sugar cane with yeast and distilled several times to produce colorless and odorless alcohol. Owing to higher disposable incomes, alcohol use is becoming more widespread, shifting people's attitude towards drinking; and drinking becoming socially acceptable.
Growing alcohol consumption, rising disposable incomes, rising club culture in the region's urban areas, and proliferating clubs, lounges, and bars have given the alcohol industries a boost. Subsequently, the increasingly rising alcohol industry provided a favorable market climate for the extra neutral alcohol industry in the Allies. The rising market preference for branded liquors over country liquors has also helped the extra neutral alcohol industry to expand. Furthermore, the use of extra neutral alcohol as a volatile fragrance and solvent carrier has contributed to their use in perfumes and sprays in the cosmetic and personal care market.
By Application(in %), South Africa Extra Neutral Alcohol Market, 2019. The portable alcohol segment is anticipated to register XX% of the market share during the forecasted period.
By application, it is categorized into potable alcohol, flavors & fragrances, pharmaceuticals, cosmetics, and others. Growing alcohol consumption, rising disposable incomes, rising club culture in the region's urban areas, and proliferating clubs, lounges, and bars have given the portable alcohol segment a boost.
Sugarcane based segment accounted for XX% of the nation’s volume in 2019
The raw material segment can be classified into grain-based and sugarcane-based. Rum is made by using the byproducts of sugarcane or sugarcane juice directly and is then distilled. The liquid is then aged in barrels and then sold. The sugarcane-based segment is expected to dominate the raw material segment due to the high demand for alcohol as well as its increasing market preference. The region segment can be further divided into five major types including North Africa, South Africa, East Africa and West Africa.
Growing alcohol consumption and use in various applications to drive the market demand
Growing alcohol consumption, rising disposable incomes, rising club culture in the region's urban areas, and proliferating clubs, lounges, and bars have given the alcohol industries a boost. Subsequently, the increasingly rising alcohol industry provided a favorable market climate for the extra neutral alcohol industry in the Allies. The rising market preference for branded liquors over country liquors has also helped the extra neutral alcohol industry to expand. Furthermore, the use of extra neutral alcohol as a volatile fragrance and solvent carriers has contributed to their use in perfumes and sprays in the cosmetic and personal care market. Additionally, the widespread use of extra neutral alcohol in various consumer goods such as air fresheners, colognes, detergents, syrups, etc. is expected to drive the extra neutral alcohol in the forecast period.
Implementation of stringent drug use regulations due to increased alcohol misuse in South Africa is expected to hamper the development of this region's extra-neutral alcohol industry. The government imposes high taxes and stringent laws on alcohol supply, owing to increased drug misuse, which is expected to hamper business growth. Ethanol is highly corrosive and flammable, and hence extra care needs to be taken during its transportation, thus strict rules and regulations towards the transportation are implied thereby leading to additional tax challenges. Also, Africa's regulatory authorities have defined requirements for the testing methods of ethanol used in the food and other industries, leading to high production costs. All these factors are expected to hinder the market growth during the forecast period.
In terms of value and volume, South Africa accounted for XX% of total market volume share in 2019
Improved consumer living conditions and an improvement in their disposable incomes are expected to raise demand for premium alcohols, which in turn is expected to drive further growth in the extra-neutral alcohol industry. The region segment can be further divided into five major types including North Africa, South Africa, East Africa and West Africa.
Some factors that improve the role in the market of the key players within the extra neutral alcohol market have been the usage of the same in various applications as well as increased demand along with rising market preferences.
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