Global brewing enzymes market growth is driven by growing westernization of the world, the rising disposable income of the population, the increasing demand for beer & innovative market strategies by manufacturers.
Newark, Sept. 13, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global brewing enzymes market is expected to grow from USD 437.22 million in 2021 to USD 798.41 million by 2030, at a CAGR of 6.92% during the forecast period 2022-2030.
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The increased demand for beer due to the world's increasing westernization and the population's rising disposable income has led beer producers to search for methods to maximize their beer production. Enzymes minimize production time, increase efficiency, and improve beer production. The advantages of brewing enzymes enable producers to increase beer production without compromising quality cost-effectively. As a result, the market will expand due to the increasing use of brewing enzymes in the beer-making industry. The shifting demographics have influenced the rising demand for restaurants, pubs, and bars in developing nations, where the share of the youthful population is the largest. The demand for alcoholic beverages will significantly increase as liquor shops, pubs, taverns, and restaurants become more prevalent and well-liked. Given that beer and wine are the most widely consumed alcoholic beverages on the market, the expansion of these outlets will benefit the market for brewing enzymes, which will see an increase in demand due to the rising popularity of beer and wine. The prevalence of traditional brewing practices restricts the market's growth by limiting the commercial production of brewing enzymes. Furthermore, the absence of a universal regulatory body to control, monitor, and regulate the brewing enzyme production, distribution and consumption will challenge the market's growth. Streamlining the production process, supply chains, and regulations can mitigate the restrictions and challenges for the market players.
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To enhance their market position in the global brewing enzymes market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• DelvoPlant, a collection of enzymes for enhancing plant-based beverages' flavor, consistency, and sweetness, was introduced by Royal DSM in August 2020. These enzymes, a part of DSM's growing line of alternatives to dairy products, have several advantages, such as boosting protein solubility, lowering viscosity, enhancing mouthfeel, and bringing out the inherent sweetness of raw materials like rice, soy, and oats.
Market Growth & Trends
Consumer interest and awareness in craft brewery is increasing, fueling market expansion for brewing enzymes. The increased demand for alcoholic beverages due to the rising young population and consumer disposable income would further aid in the market's expansion. The western influence is growing parallel to traditionalism globally. Entrepreneurs and enthusiasts are exploiting these parallel rises by crafting modern beers yet having a traditional touch to them with indigenous ingredients, flavors, and aromas. The growing variety of flavors, aromas, and beer brands will bode well for the market's growth. With microbreweries attracting consumers with their craft beers, the market will also gain from the increased commercial production of beer due to its growing appeal worldwide. For instance, the beer market will be around 800 million in 2021. It is expected to grow at a CAGR of 5% for the next decade. The increasing demand for beer accelerates the growth of the brewing enzymes market.
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• In 2021, the amylase segment dominated the market with the largest market share of 38% and market revenue of 166.14 million.
The type segment is divided into amylase, protease, beta-glucanase, xylanase, alphalase, and others. In 2021, the amylase segment dominated the market with the largest market share of 38% and market revenue of 166.14 million.
• The microbial segment is expected to grow at the fastest CAGR of 9.15% over the forecast period.
The source segment is divided into microbial and plant. Over the forecast period, the microbial segment is expected to grow at the fastest CAGR of 9.15%.
• In 2021, the liquid segment accounted for the largest share of the market, with 24% and a market revenue of 104.93 million.
The form segment is divided into liquid and powder. In 2021, the liquid segment accounted for the largest share of the market, with 24% and a market revenue of 104.93 million.
• In 2021, the mashing & fermentation segment dominated the market with the largest market share of 48% and market revenue of 209.86 million.
The process segment is divided into malting, wort separation & filtration, mashing & fermentation, and maturation. In 2021, the mashing & fermentation segment dominated the market with the largest market share of 48% and market revenue of 209.86 million.
• The beer segment is expected to grow at the fastest CAGR of 11.11% over the forecast period.
The application segment is divided into beer and wine. Over the forecast period, the beer segment is expected to grow at the fastest CAGR of 11.11%.
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Regional Segment Analysis of the Brewing Enzymes Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the Asia Pacific region emerged as the largest market for the global brewing enzymes market, with around 38.16% and 166.84 million of the market revenue in 2021. The Asia Pacific region is expected to grow the fastest during the forecast period. The brewing enzymes market in the Asia Pacific has been expanding rapidly. The increasing presence of significant market players in China, Australia, Vietnam, & Malaysia contributes to its growth. One of the main factors driving the increase in beer and wine consumption in Asia is the region's young population's increased exposure to western culture. Several factors significantly contribute to the rising demand for beer and wine, including increased urbanization, adoption of western lifestyles, busy work schedules, and rising disposable income. By giving customers a wide range of options, the increasing number of microbreweries that seek to incorporate regional flavors, scents, and ingredients in beers and wines are assisting in the market's growth. The region's young millennial and generation Z population is propelling the market growth.
Key players operating in the global brewing enzymes market are:
• Amano Enzyme
• Associated British Foods
• Aumgene Biosciences
• Chr. Hansen
• Enzyme Development Corporation
• Enzyme Innovation
• Kerry Group
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global brewing enzymes market based on the below-mentioned segments:
Global Brewing Enzymes Market by Type:
Global Brewing Enzymes Market Source:
Global Brewing Enzymes Market by Form:
Global Brewing Enzymes Market by Process:
• Wort Separation & Filtration
• Mashing & Fermentation
Global Brewing Enzymes Market by Application:
About the report:
The global brewing enzymes market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
plant-based kerry group kerry