Craft Brewery Segment is Projected to Witness the Fastest Growth in the Brewery Equipment Market by 2025
The global brewery equipment market is estimated to be valued at USD 16.8 billion in 2019 and is projected to reach USD 24.0 billion by 2025, recording a CAGR of 6.1% from 2019 to 2025. The growing number of microbreweries, as well as brew pubs, have significantly driven the market for brewery equipment. The other factors responsible for driving the global brewery equipment market is increasing consumer preferences for artisanal and craft beer as compared to traditional beer or other alcoholic beverages. Further, product innovations in the brewery equipment market have led to the growing need for updated and sustainable brewery equipment by beer manufacturers.
By brewery type, the brewery equipment market is segmented into macrobrewery and craft brewery. The craft brewery segment is further segmented into microbrewery, brew pubs, and others. The craft brewery segment is estimated to grow at the highest CAGR, due to the rise in demand for premium and flavorsome beer produced in small batches. Consumers are also shifting from traditional beer to craft beer. This has led to an increase in the number of microbreweries and brew pubs around the globe. Due to the rise in the number of microbreweries, the demand for microbrewery equipment is increasing, which in turn, is driving the overall demand for equipment in craft breweries.
The craft brewery equipment segment is further segmented into mashing equipment, fermentation equipment, cooling equipment, storage equipment, compressors, and others. In the craft brewery equipment market, the fermentation equipment segment is projected to be the fastest-growing during the forecast period. During the fermentation process, the wort is kept in the tanks for few weeks and acid is released as a byproduct. Due to this, there are major chances of tank deterioration. Since the tanks are occupied for a longer duration during the process, there can be a requirement of more tanks by craft breweries to increase production. Due to these factors, the fermentation equipment segment is projected to drive the market for brewery equipment during the forecast period.
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