Total sales in the global brewing
enzymes market are anticipated to grow at a CAGR of 6.4% over the
forecast period and expected to reach a valuation of US$ 409.3 Mn in 2022 and
projected to reach a valuation of US$ 761.2 Mn by 2032. The brewing enzymes
market accounts for around 17% of the global food enzymes market, which was
valued at US$ 2.2 Bn in 2021.
Increasing urbanization and rising demand for alcoholic
beverages across pubs and bars is expected to fuel sales of brewing enzymes. In
addition to this, demand for light beers is increasing, as consumers are
becoming more health conscious. This is expected to have a direct impact on the
demand for brewing enzymes.
Furthermore, increasing demand for beer, wine, and
industrial enzyme is propelling the brewing enzymes industry, as breweries
utilize industrial enzymes to speed up the processing and produce uniform and
high-quality products.
Additionally, it is possible to change the flavor and color
of these alcohols by adding enzymes during the brewing process, as a result
producers are not afraid to experiment and provide new flavors to the market.
“Technological advancements in craft brewing, along with
rising demand for low-alcoholic beers across various countries will boost sales
of brewing enzymes over the forecast period,” says an FMI analyst.
Key Takeaways:
- The
global brewing enzymes market is expected to reach a valuation of around
US$ 409.3 Mn in 2022.
- Based
on application, the beer segment is expected to account for more than half
of the total market share over the forecast period.
- Demand
in the North America brewing enzymes market is expected to grow at a 6.3%
CAGR through 2032.
- In
terms of form, sales of liquid brewing enzymes will continue gaining
momentum.
- East
Asia is expected to emerge as a lucrative market for brewing enzymes over
the assessment period.
Competitive Landscape
Due to the presence of strong regional and domestic players
in several countries, the global market for brewing enzymes is fragmented.
Mergers, expansions, acquisitions, and partnerships, as well as new product
development, are among some of the strategies used by manufacturers to increase
brand exposure. For instance:
- Associated
British Foods plc strengthened its collaboration with Genedata AG, a
renowned provider of specialized software solutions for R&D, to
digitalize strain development in order to speed up the identification of
new brewing enzymes.
- Kerry
announced a new technical partnership with Ginkgo Bioworks, a microbe
startup that creates tailored microorganisms for specific applications.
Kerry and Ginkgo collaborated to enter the enzyme business, expanding
their market presence, and leveraging each other’s technology and
processes to increase the development of specialized food enzymes.
Read More: https://www.futuremarketinsights.com/reports/brewing-enzymes-market