The brewing enzymes market is projected twitness a CAGR of
5.16% treach US$9.027 billion by 2023, increasing from US$6.675 billion in
2017. The growth in the industry may be attributed tthe rising adoption of the
brewing enzymes because of their ability taccelerate the chemical reactions
without changing their own properties. Commercially available brewing enzymes
are being increasingly used in various steps of brewing process tmake the
process quick, easy and consistent. Rising demand of beer and wines across the
globe due tthe rising disposable incomes is alsthe key factor responsible for
the growth of brewing enzymes market during the forecast period. As per data by
National Beer Wholesalers Association (US) the U.S. beer industry sells more
than $111.1 billion in beer and malt-based beverages tU.S. consumers each year
of 83 percent of which all beer was domestically produced, and 17 percent was
imported from more than 100 different countries around the world.
Strong outlook of enzymes in several brewery processes including mashing, fermentation and cereal cooking will create new opportunities for the industry growth. Investment in the Research & Development of brewing enzymes, rising number of microbreweries and wider scope of the enzyme application will drive the market growth. Improved beer quality at low production costs with minimal wastage coupled with elimination of cold stabilization process will further augment the market growth during the forecast period. Growth in the craft beer segment will alsboost the market. However, technical aspects such as temperature, pH needs tbe strictly controlled during production of brewed products using enzymes which can hamper the market growth. Moreover, lack of uniformity in regulations for international trade is another restraining factor for the growth of brewing enzymes market.
Geographically, Europe is expected thold a significant share in the brewing enzyme market owing tthe rise in the production of wine, flavoured beers and gluten-free beers coupled with the increase in domestic consumption of premium products with better taste and quality. Rising awareness and popularity about the craft beers have alsfueled the growth of the market in the region. Asia-Pacific will alsshow a robust growth due tincreasing number of beer manufacturing plants and improving socio-economic conditions.
Market intelligence is presented in the form of analysis, charts, and graphics thelp the clients in gaining faster and efficient understanding of the global brewing enzymes market.
Major industry players profiled as part of the report are Novozymes, DuPont Nutrition & Health and Advanced Enzyme Technologies among others.
Middle East and Africa