Brewing Enzymes Market Competitor Strategy, Industry Trends, Business Opportunity, Forecast to 2023
Brewing Enzymes Market Overview
Brewing Enzymes Market 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 colon, aroma, and fineness of the beverage.
The Global Brewing Enzymes Market has been rising continuously over the past few years due to the increasing numbers of breweries and vineries, worldwide. According to Market Research Future (MRFR), the global brewing enzymes market is projected to grow exponentially by 2023. In its recently published analysis, MRFR also asserts that the market would register a phenomenal CAGR throughout the forecasted period (2018-2023).
The flourishing Beer and Wine markets predominantly drive market demand. Substantial investment made in R&D 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.
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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.
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.
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 most 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.
The European region is expected to take the second leading position in the global brewing enzymes market. Flourishing F&B 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.
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.
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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.