Market Outlook
Brewing Enzymes as the name suggests are enzymes that catalyze the brewing process. These Enzymes are extensively used during the malting process to make the raw grains suitable for brewing beer and distilling whiskey. These enzymes make beer processing faster and more cost-effective, preventing the formation of diacetyl. In wine preparation, brewing enzymes are used to make the filtration process smooth, while maintaining the color, aroma, and fineness of the beverage.
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The flourishing Beer and Wine markets predominantly drive market demand. Substantial investment made in RD is further opening opportunities for the market players. Moreover, factors such as the growing urbanization, changing consumption patterns, and traction towards lavish lifestyle would contribute to the growth of the market. Brewing Enzymes is expected to grow at a 6.54% CAGR and reach USD 451.41 Billion by 2030.
Changing lifestyles alongside, the increasing purchasing power of consumers have led to an increase in the consumption of alcoholic beverages. High focus on RD has led to innovations in the product by improving its shelf-life. Also, the rising demand for products with high shelf-life is acting as a tailwind pushing up the market. All these factors have positively impacted the growth of brewing enzymes market escalating it to the ascended heights on the global platform.
On the flip side, the lack of technical expertise with respect to the product development, such as temperature, pH control, and government regulations are some of the key factors estimated to impede the market growth. Nevertheless, technological innovations would support the growth of the market during the review period.
Global Brewing Enzymes Market - Segments
The report is segmented into five market dynamics to widen the scope of understanding,
By Type : Amylase, Beta-glucanase, Protease, and Xylanase, among others.
By Source : Microbial and Plant.
By Form : Liquid and Powder.
By Application : Beer and Wine.
By Regions : North America, Europe, APAC, and the Rest-of-the-World (RoW).
Global Brewing Enzymes Market - Regional Analysis
In terms of value, Europe and North America hold an equally prominent share in the global brewing enzymes market. However, North America would lead the brewing enzymes market over the forecast period, capturing the majority of shares. Factors such as increasing consumption of these enzymes in the increasing numbers of breweries and high concentration of players who are actively involved in increasing the production to meet the growing market. Besides, rapidly growing beer markets in the region provide a huge impetus to the regional market growth, witnessing high demand for beer among North American consumers.
The European region is expected to take the second leading position in the global brewing enzymes market. Flourishing FB sector and the rise in the number of high-end functional beverages cocktails have created a substantial market demand, catering to modern discerning consumer demands. Besides, the presence of a large number of wineries and breweries are supporting regional market growth.
The Asia Pacific region has emerged as a promising market for brewing enzymes, representing a massive potential for growth. The presence of emerging economies with massive legions of wine connoisseurs and beer lovers and increasing numbers of breweries foster the regional market growth, creating a vast product demand. Additionally, increasing per capita disposable income, changing the lifestyle of consumers, and rising consumption of beer in the region are some of the major factors influencing the growth of brewing enzymes market in the Asia Pacific.
Brewing Enzymes Market - Competitive Analysis
Fiercely competitive, the brewing enzymes market appears fragmented with the presence of several large and small-scale players operating in the market. Focusing on improving their market performance, these players acquire promising companies in the fast-growing markets to meet their expansion plans. Growth in terms of innovations in techniques of product development is expected to create strong investment opportunities for global players.
Major Players:
Players leading the global brewing enzymes market are MillerCoors LLC. (US), Ab Enzymes Inc. (Germany), Customized Brewing Solutions (CBS - Belgium), Merck Co., Inc. (US), E. I. Du Pont De Nemours and Co. (US), Kerry Inc. (US), Soufflet Biotechnologies (France), Megazyme Inc. (US), Novozymes A/S (Denmark), and DSM Food Specialties B.V. (Netherlands), among others.
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Industry/ Innovation/ Related News
June 13, 2019 ---- Novozymes A/S (Denmark), a leading global biotechnology company, launched two major liquefaction platforms and advanced yeast technologies – Fortiva and Innova during 2019 Fuel Ethanol Workshop, held in Indianapolis, the US. Fortiva and Innova Force technology provide ethanol producers with the technology needed to push for greater profits in changing market conditions.
They underline Novozymes’ commitment to support the ethanol industry and producers. By leveraging biological synergies and sustainability of enzymes, yeast, and technical service platforms, Novozymes has reset performance expectations for ethanol production. The launches of the Innova Force fermentation solution and Fortiva, together deliver the most holistic, sustainable, and advanced approach to ethanol production.
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