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. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/2869 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. For More Information: http://bit.ly/2MNGipJ About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: [email protected]