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.
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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.
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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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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