The report “Brewing Ingredients Market by Source (Malt Extract, Adjuncts/Grains, Hops, Beer Yeast, and Beer Additives), Brewery Size (Macro Brewery and Craft Brewery), Form (Dry and Liquid), and Region – Global Forecast to 2026″, The brewing ingredients market was valued at USD 34.5 billion in 2021 and is projected to grow at a CAGR of 6.8%, to reach USD 47.9 billion by 2026. The rise in the global population and increasing disposable income in developing economies are creating new avenues for alcoholic beverages.
Opportunity: Introduction of new flavors in beer
The increase in beverage consumption has led to intense competition amongst beer brands, resulting in the introduction of new flavors and increasing beer consumption. There is a growing popularity for craft beers as it offers various flavors besides the regular flavors offered by macro breweries. The introduction of new ingredients and innovative flavors, combining salty, fruity, and tart flavors, by craft beers, has found an increasing appeal among the millennial crowd globally. Some of the macro brewers are also acting on to respond to these changing demands from consumers. For example, Heineken USA, in 2021, launched Dos Equis Lime & Salt variety pack of lager beer. Similarly, Latambarcem Brewery (India), in 2020, launched a new craft beer brand called Maka di that currently serves four brews: Honey Ale, Belgian Tripel, Bavarian Keller, and Belgian Blanche. The introduction of these new flavors is projected to increase the sales and consumption of beer. Thus, this is anticipated to provide ample opportunities to players operating in the global market.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=248523644
By source, the malt extract segment is estimated to hold the largest share in the brewing ingredients market
The market includes five major sources: malt extract, adjuncts/grains, hops, beer yeast, and beer additives. The malt extract segment is further bifurcated into standard malt and specialty malts. Brewing-grade malt extracts are made with the highest-quality brewing malts and get additional colors and flavors from using specialty malts. This gives beer the unique character and flavor desired for the particular style brew. These malts often have a longer time in the kiln, at higher temperatures, or get roasted to add depth, complexity, and flavor to the resulting beer. Specialty malts include less in the way of sugars but have a greater influence on the color of the beer. These malts are widely used in craft beers.
By brewery size, the craft brewery is estimated to grow at a higher growth rate in the brewing ingredients market.
According to the Brewers Association, an American craft brewer is a small and independent brewer, where small breweries have an annual production of 6 million barrels of beer or less. The craft brewing industry contributed USD 82.9 billion to the US economy in 2019, with more than 580,000 employees. The average alcohol by volume (ABV) content of a craft beer is 5% to 10%, but some of the most popular craft beers have an ABV of as high as 40%. On the other hand, beer produced in bulk by macro breweries has an ABV of 4% to 6% and as little as 2%. Craft breweries offer different flavors, which allow consumers with different tastes to cater to their preferences. These factors are driving the growth of the craft brewery segment in the global market.
Asia Pacific is projected to dominate the majority market share, in the global brewing ingredients market, in terms of value, in 2021
On the basis of the regional area, the market is segmented into North America, Europe, Asia Pacific, South America, and Rest of World (RoW). Due to the increase in population and rise in disposable income, Asia Pacific is projected to account for the largest share during the review period. The drinking preferences of the population in this region are gradually shifting toward alcoholic culture. The large, increasing population and the growing market mean that the demand for brewing ingredients is still promising. Another factor is the densely populated areas that are not completely tapped by beer manufacturing and brewing ingredient companies. Rapid industrialization and urbanization, increase in environmental concerns, rise in disposable income of growing middle class, and rising demand for craft beers are factors consequently fueling the demand for brewing ingredients market in this sector.
Make an Inquiry @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=248523644
This report includes a study on the marketing and development strategies, along with a survey of the product portfolios of the leading companies operating in the brewing ingredients market. It includes the profiles of leading companies, such as Cargill, Incorporated (US), Angel Yeast Co. Ltd. (China), Boortmalt (Belgium), Malteurop Groupe (France), Rahr Corporation (US), Lallemand Inc. (Canada), Viking Malt (Sweden), Lesaffre (France), Maltexco S.A. (Chile), and Simpsons Malt (UK). among others.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media ContactCompany Name: MarketsandMarketsContact Person: Mr. Aashish MehraEmail: Send EmailPhone: 18886006441Address:630 Dundee Road Suite 430City: NorthbrookState: IL 60062Country: United StatesWebsite: https://www.marketsandmarkets.com/Market-Reports/brewing-ingredient-market-248523644.html
