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Alcohol Market

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The global alcohol market size is projected to reach US$ 1.70 billion by 2027, and register a CAGR of 3.1% over the forecast period (2019 – 2027).
Alcohol Market Size, Trend and Forecast, 2027
The global alcohol market size is projected to reach US$ 1.70 billion by 2027,
and register a CAGR of 3.1% over the forecast period (2019 - 2027).
Market Overview
Alcohol is a volatile liquid which is prepared by fermenting certain types of
carbohydrates. It is known by chemical names such as ethanol, ethyl alcohol,
ethylene glycol, butanol, methanol, and sorbitol among others. It is a clear liquid
that has a typical potent odor and strong taste. Alcohol has a variety of
characteristic functions which include disinfectant, central nervous system
depressant, a diuretic, antiseptic drug, and a human metabolite among others.
Owing to its wide range of characteristics, alcohol has several industrial
applications, and the most common is that of an active ingredient in beverages
such as wine and hard liquor.
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Market Outlook
North America is expected to lead the alcohol market owing to increasing
preference for ethanol as a fuel, over other conventional fuels. Furthermore,
environmental regulations in the region and increasing government initiatives
regarding the use of bio-fuels to curb pollution is driving demand for ethanol in
the automobile industry, which in turn is estimated to have a positive effect on
the North America alcohol market.
Asia Pacific is estimated to account for significant market share over the
forecast period due to factors such as increasing influence of the western culture
on the lifestyle and habits of the population. Also, increasing disposable income
and rapid industrialization in emerging economies such as India and China is
facilitating demand in the alcohol market. Moreover, rising environmental
concerns in addition to rising cost of raw materials is resulting in an increasing
demand for bio-fuels in the region. Demand for ethanol from various end use
industries such as pharmaceuticals, automotive, personal care, and food and
beverages is propelling growth of the Asia Pacific alcohol market.
Key Players
Key market players such as Absolute Energy LLC, Methanex Corporation,
Glacial Lakes Energy LLC, and Aventine Renewable Energy-Pekin among
others are dominating the global alcohol market.
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pallavi.reddy
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