Dublin, July 02, 2021 (GLOBE NEWSWIRE) -- The "Global Brewing Ingredients Market Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
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 global population and increasing disposable income in developing economies are creating new avenues for alcoholic beverages.
According to the Brewers Association, the total value of the beer market was USD 94.1 billion in 2020, whereas the total craft beer market was estimated at USD 22.2 billion. The data provided by the Kirin Beer University Report shows that the global beer consumption stood at approximately 188.79 million kiloliters in 2018, up by 0.8% from the previous year, which is about 1,540,000 kiloliters, equivalent to approximately 2.4 billion 633 ml bottles. China remained the largest beer-consuming country in the world for the 16th consecutive year in 2018.
Malt extract is estimated to account for the largest share in 2021 for brewing ingredients based on the source segment
Standard malt has enough enzymatic activity, notably diastatic power, to ensure that starch conversion occurs during mashing. It usually accounts for the largest percentage of malt in a beer recipe (anywhere from 60% to 100%).
The remaining percentage may be made up of specialty malts, unmalted grains, or adjuncts that may not have enough enzymes to convert their own starches to sugars during mashing. 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.
The macro brewery category of the material type will hold the largest share in the brewing ingredients market, while craft brewery with growing at one of the fastest rates
Macro brew is a mass-produced beer brewed in very large quantities, due to which it is generally sold for a cheaper price than craft beer. Beers produced on a large scale in macro breweries are typically monotone in flavor and go through a standardized process of production, including filtration and pasteurization. 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 brewing ingredients market.
Asia Pacific is expected to hold a significant share in the brewing ingredients market globally
The Asia Pacific region is estimated to account for the largest share in the dairy beverage market. The demand for different beers with various flavors and different ABV is driven by economic growth, drinking culture in countries such as Vietnam and South Korea, urbanization, and the rise in the purchasing power of consumers.
The growth in the brewing ingredients market in the region is majorly driven by the following factors such as increasing population in several countries leading to the rising demand for different beers, urbanization and increase in disposable income, rising consumption of low- or zero-alcohol content beers, and increase in investments from leading players in beer and brewing ingredients markets
Increasing Demand for Craft Beers is Projected to Drive the Brewing Ingredients Market
Malt Extract Segment Dominated the Asia-Pacific Market in 2020
Macro Brewery Segment Dominated the Market Across Regions in 2020
Asia-Pacific Projected to Dominate the Brewing Ingredients Market Across Regions by 2026 (USD Million)
China to be the Most Lucrative Market for Brewing Ingredients
Increasing Global Population
Rising Beer Consumption in Emerging Economies
Increasing Demand for Low- or Zero-Alcohol Content Beer
Stringent Regulations in the Beer Industry
Introduction of New Flavors in Beer
Increase in Demand for Organic and Clean Label Beers
Consumer Shift to Alternative Beverages in North America
Fluctuations in the Production of Raw Materials for Brewing Ingredients
Impact of COVID-19 on the Market Dynamics
Raw Material Suppliers
Supply Chain Analysis
Raw Material Sourcing
Distribution, Marketing & Sales
Trade Analysis of the Brewing Industry as a Commodity Across Major Countries
Development of Cavitation as a Brewing Process
Use of Advanced Centrifuge Technology
Application of Boom Algae for Brewing
Artificial Intelligence Imbibed Real-Time Brewing System
Porter's Five Forces Analysis
Case Study Analysis
Boortmalt: Use of Computerized Maintenance Management System (CMMS)
Malteurop Groupe: Adoption of High Corrosion Resistance Equipment
Viking Malt: Installation of Sensor-Equipped Fans
Angel Yeast Co. Ltd.
Pure Malt Products Ltd
Imperial Malts Ltd.
Mahalaxmi Malt Products Private Limited
PMV Maltings Pvt. Ltd.
Cereal and Malt-Extracts (Pty) Ltd.
Cereal Food Manufacturing Company
For more information about this report visit https://www.researchandmarkets.com/r/djztz0
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900