The global Brewing Enzymes market is expected to develop USD 451.41 Billion by 2030, at a compound annual increase in price (CAGR) of 6.54% throughout the forecast period.
The elements that have popularized brewing enzymes market trends are growing count of active breweries pushing forward this business. In Europe, in-house grown active breweries are more than 8k. Thus, the demand for craft beer got higher support by higher number of craft breweries. According to Brewers Association, count of craft breweries in Europe grown with higher rate from 2012 to 2017.
The higher count of microbreweries and obligation to compete with big manufacturers by reducing cost has surged brewing enzymes industry applications and its revenue. Extensive product launches in low-alcohol and alcohol-free segment owing to growing trend towards healthy lifestyle is propelling the market expansion. Higher demand for flavored and gluten-free beer along with penetration of renowned companies in low-alcohol & alcohol-free segments will swift the demand over forecast period.
consumer spending on food & beverages, especially in developing countries will back the surging beer industry demand. Growing urbanization along with mounting demand for alcoholic beverages through cafes, dining restaurants, bars & pubs will positively impact the market progress. However, brewing enzymes work proficiently in a limited range near optimum temperature & pH. In addition to that, fluctuating raw material prices can hinder the industry revenues.
The dynamics of brewing enzyme differs tremendously from region to region. Largest share of global brewing enzymes market share got credited to North America in 2017 and is anticipated to lead the market. In North American region, U.S. is leading the market, which is followed by Canada and rapidly-growing Mexican market. There is huge demand for gluten-free beer, encouraging the demand for specific proteases. The largest markets for beers is European market, which is boosting growth of brewing enzymes market. Countries such as Hungary, Belgium, the U.K., Spain, Russia, Austria, Germany, Italy and Denmark are key manufacturer countries in Europe. In future, Asia-Pacific region in anticipated to progress with highest CAGR. Developing countries like India, Vietnam, Malaysia and China are expected to fuel the enzymes market in this region. China locked the label of largest beer-producing country holding the one-fourth of share of world beer production and in turn which increases enzymes market. South America is most substantial beer-producing area and chief markets such as Peru, Uruguay, Brazil, Argentina, Paraguay, and Uruguay are boossting the market in this region.
key industry players who are operating global brewing enzymes include Denykem, Royal DSM, Amano, Novozymes, and Danisco. Other leading players include Dyadic International, Z.A. Biotech, Megazyme, Boli Bioproducts, Lyven, and Aumgene Biosciences. Mergers and acquisitions are some of the key strategies adopted by present manufacturers. For example, Novozymes A/S acquired Germany based Organobalance to widen their product portfolio in year 2016. Major customers include Heineken N.V., Miller Coors, and Boston Beer Company, Carlsberg Group, Anheuser-Busch InBev and Beijing Yanjing Brewery.
Key segments of ‘Global Brewing Enzymes Market’
Based on type, the market has been segmented into,
Based on process, the market has been segmented into,
- Mashing & Fermentation
- Wort Separation and Filtration
Based on end-user, the market has been segmented into,
- North America (The U.S.)
- Europe (UK, France, Germany)
- Asia Pacific (China, Japan, India)
- Latin America (Brazil)
- The Middle East and Africa