WASHINGTON, Oct. 19, 2022 (GLOBE NEWSWIRE) -- According to a report by Vantage Market Research, the Global Brewing Enzymes Market was worth USD 292 Million in 2020 and is expected to be worth USD 585 Million by 2028, with a CAGR of 6.8% between 2021 and 2028. The report gives an in-depth look at the top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an important and helpful source of information for leading market players, investors, new entrants, and other stakeholders who want to make new plans for the future and take steps to strengthen their position in the market. in a report, titled “Brewing Enzymes Market by Source (Microbial, Plant), by Type (Amylase, Alphalase, Protease, Other Types), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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What is Brewing Enzymes? How Big is Brewing Enzymes Market Size?
Market Synopsis
Brewing Enzymes have been widely used in beer production these days, whether for turning non-fermentable sugar into a sugar which is fermentable, or gluten reduction. These enzymes also help in reducing viscosity, extend the shelf-life of a beer, and even support yeast during the fermentation process.
List of Prominent Players in the Brewing Enzymes Market:
- Amano Enzyme Inc.
- Associated British Foods PLC
- DuPont de Nemours Inc.
- Koninklijke DSM NV
- A Group Soufflet company
- CBS Brewing
- Megazyme Ltd
- Novozymes AS
- Caldic BV
Market Dynamics:
Driver: Increasing Demand for Beer and Alcoholic Beverages
Most of the nations has witnessed rapid improvement and urbanization. This has led to a rise in the overall disposable income of the citizens. Additionally, this has made way for switch in preferences of consumer, particularly among young and aspirational drinkers in the emerging nations such as Europe and Asia Pacific, toward modern beer from the traditional rum and beer. Furthermore, beer is a hugely consumed, traded, and produced alcohol across the globe due to which youth is attracted towards it. Moreover, the population is inclining gradually towards moderated, premium, and sophisticated beverages, due to continuous innovation taste, packaging, flavors, and others. There is substantial growth in the number of breweries. As number of consumers who are alcohol consuming is increasing consistently and need for numerous flavors is also present in the mind-set of the consumer. Consumers are always looking for different flavors to explore in beers.
Opportunity: Beer Manufacturing Efficiency can be Increased by Enzymes
Wine and Beer manufacturers are looking for advanced solutions to increase productivity and meet safety standards so that the changes in the demand of consumer for wine and beer are met. Key wine and beer manufacturers are mostly focussing on growing the level of efficiency to increase their level of production of beer produced.
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Regional Trends
Asia Pacific market for brewing enzymes held a significant share and is likely to grow at the highest CAGR. The nations contributing substantially toward the growth of the market include China, Vietnam, and New Zealand. Asia Pacific is heterogeneous, with diversity in the level of income, technology, leading to improved scope for future outlook. These determinants influence the use of enzymes in brewing in the wine and beer segment. In Europe, owing to the rise in the production of flavored beers, wine, and gluten-free beers. Furthermore, the rise in domestic consumption of luxury products with better quality and taste also drives the production of wine and beers in Europe. Growth in the craft beer market acts as a major driver for the growth in this market. The rise in the number of craft breweries, increase in popularity of such beers among people, rising awareness about health benefits of consumption of beer, and rise in disposable income, particularly in Western European nations, have facilitated the growth of the market in the region.
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Key Insights and Findings from the In-depth Report:
- The amylase segment is projected to expand at the fastest CAGR exceeding 7% over the forecast period owing to the increasing cost-effectiveness, and reduced time and ease to optimize the process involving amylase.
- The beer segment held a market share of around 30% in 2020. Beer is a beverage fermented from grain mash which is made from barley or a blend of several grains thereby having high demand.
- Asia Pacific is expected to expand at a CAGR of over 9.21% from 2021 to 2028. This surge is attributed to the rising demand for brewing enzymes market in developing economies such as China and India.
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the Brewing Enzymes Market. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
Some of The Key Questions from Our Customers Are:
- Which are the top companies in the market?
- How will the market change in the next years?
- What are the drivers and restraints of the market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the market throughout the forecast period?
- Which area offers the most significant benefit for the world market?
- What are the threats to business and the impact of the current scenario on growth and market perception?
- What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?
Browse market data Tables and Figures spread through 180 Pages and in-depth TOC on Brewing Enzymes Market Forecast Report (2022-2028).
The report on Brewing Enzymes Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 292 Million |
| Revenue Forecast by 2028 | USD 585 Million |
| CAGR | 6.8% from 2021 to 2028 |
| Base Year | 2020 |
| Forecast Year | 2021 to 2028 |
| Key Players | • Amano Enzyme Inc. • Associated British Foods PLC • DuPont de Nemours Inc. • Koninklijke DSM NV • A Group Soufflet company • CBS Brewing • Megazyme Ltd • Novozymes AS • Caldic BV |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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