Asia Pacific is projected to be the fastest-growing regional market for brewing enzymes by 2023

The Brewing Enzymes Market is estimated at USD 352.1 million in 2018, it is projected to reach USD 484.7 million by 2023, at a CAGR of 6.6%. The increase in popularity of craft breweries and specialty beers, continuous R&D resulting in product and process innovations, increasing per capita income in Asia Pacific region, and forecasted high cereal price trend are expected to drive the demand for brewing enzymes in beer and wine applications. Usage of enzymes in the brewing industry can cut costs, improve beer stability, and control flavor, in addition to providing higher productivity and reducing waste generation.

The Asia Pacific region is projected to be the fastest-growing market for brewing enzymes over the next five years, owing to an increase in overall economic growth, with diversity in income levels, technology, and demand from end consumers leading to enhanced scope for future growth. 

The main countries contributing significantly toward the growth of the market in this region are China, Japan, and Vietnam. The malt that is produced in China for beer production is facing a deficit in barley; hence, manufacturers are focusing on building malt production units due to the ongoing increase in domestic demand. Due to barley deficit in this region, commercial enzymes are added to improve the quality of the beer and to fulfill the domestic demand for beer, which drives the usage of enzymes in the brewing process.

In the European region, the growth of brewing enzymes can be attributed to the increase in the production of wine, flavored beers, and gluten-free beers. Additionally, the increase in domestic consumption of premium products with better taste and quality also drives the production of beers and wine in Europe. Growth in the craft beer market acts as a major driver for the growth in this market. The increase in the number of craft breweries, the rise in popularity of such beers among consumers, growing awareness about some health benefits of consuming beer, and the increase in disposable income, especially in Western European countries, have fueled the growth of the brewing enzymes market in the region.

The brewing enzymes market is concentrated, with leading companies driving the market growth. This report provides a qualitative analysis of the prominent market players and their preferred development strategies. Key players such as Novozymes (Denmark), DSM (Netherlands), DowDuPont (US), Amano Enzyme (Japan), Chr. Hansen (Denmark), Associated British Foods (UK), and Kerry Group (Ireland) 

Comments

Post a Comment

Popular posts from this blog

Global Bottled Water Processing Market: Key Trends and Insights by 2028

A recent research report by MarketsandMarkets titled " Bottled Water Processing Market " provides valuable insights into the dynamics of the bottled water industry. The study covers both the bottled water market and the bottled water equipment market, forecasting significant growth in both segments. Here are key highlights from the report: Download PDF Brochure Bottled Water Market Overview: The bottled water market is projected to reach USD 457.1 billion by 2028, exhibiting a CAGR of 8.0% from 2023. This growth is attributed to the rising demand in emerging markets where limited access to safe drinking water is a challenge. The global population increase also contributes to the surge in demand for clean and safe drinking water, emphasizing the pivotal role of bottled water processing in providing accessible hydration solutions. Product Type Insights: The report highlights that still water dominates the market, accounting for the largest share in 2022 in terms of value. This ...
Read more

Growth Trends and Opportunities in the Global Edible Oils Market

The global edible oils industry is on track to reach USD 268.9 billion by 2027, marking a significant increase from USD 212.6 billion in 2022, with a projected compound annual growth rate (CAGR) of 4.8% between 2022 and 2027. This growth is primarily fueled by the rising global population, coupled with shifts in lifestyle preferences towards processed foods, where edible oils play a crucial role as primary ingredients. Furthermore, ongoing advancements in food processing, including the development of novel products such as confectionery, bakery items, ready-to-eat foods, and fast foods, are driving substantial demand for edible oils. Download PDF Brochure      Soybean oils emerge as the fastest-growing segment in the global edible oils market , anticipated to experience a robust CAGR of 5.4% during the forecast period. With concerns regarding food costs and climate change's impact on food supplies, soy products, particularly soybean oil, are gaining traction. Soybean oil...
Read more

Beer Processing Market Analysis and Global Forecast to 2025

Image
The global beer processing market studied in this report involves the market coverage of brewery equipment and beer. The global beer processing market is estimated to account for about USD 677.5 billion in 2019 and is projected to reach a value of USD 815.4 billion by 2025, growing at a CAGR of 3.1%. The changing consumer preferences for artisanal and craft beer, instead of traditional beer or other alcoholic beverages, drive the market for beer, globally. Download PDF Brochure The brewery equipment market has been growing in tandem      with the rising demand and consumption of beer. The other factor responsible for driving the global brewery equipment market is the growing number of microbreweries as well as brewpubs.  The European region is projected to account for the largest market share in the brewery equipment market due to the ever increasing beer industry and the presence of leading beer manufacturers. In the beer market, Asia Pacific dominated the global ...
Read more