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Brewing Enzymes Market Drivers, Restraint, Opportunities, and Challenges

08-08-2019 02:01 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets.com

Brewing Enzymes Market

Brewing Enzymes Market

The brewing enzymes market is estimated at USD 352.1 million in 2018. It is projected to reach USD 484.7 million by 2023, at a CAGR of 6.6% from 2018, in terms of value. The use of enzymes has become increasingly important in the brewing industry, as they accelerate the chemical reaction without a change in their own structure. To enhance the brewing process, commercial exogenous enzymes are used in various steps to make the brewing faster, easier, and more consistent. The demand for brewing enzymes in the beer segment is expected to witness significant growth in the near future, due to the rising popularity of beer consumption among young consumers, rise in technological innovations, and growth in the craft beer segment and number of microbreweries.

The years and periodization considered for the study are as follows:

Base year: 2017
Beginning of the projection period: 2018
End of the projection period: 2023

Objectives of the Report:

1. Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
2. Identifying and profiling key players in the brewing enzymes market
3. Understanding the competitive landscape and identifying the major growth strategies adopted by players across key regions
4. Analyzing the market dynamics and competitive situations & trends across regions and their impact on prominent market players

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=79318910

Drivers:

1. Forecasted high cereal price trend

Despite the high production estimations for cereals, as per FAO estimates for 2017, their prices are expected to increase in the coming years owing to a forecasted downfall in output. Even with the improved availability of cereals and sugar in the global market, the price of both these commodities has seen a sharp rise. The FAO cereal index (a trade-weighted measure of the monthly change in international prices of food commodities namely sugar, cereals, dairy, meat, meat, and vegetable oils) also increased by 3.4% from December to a six month high.

2. Increasing per capita income driving beer consumption in Asia Pacific

Rapid economic and income growth, urbanization, and globalization are leading to a dramatic shift in the cultural patterns in the Asia Pacific region. The fast pace of lifestyles and consumer willingness to try out new alcoholic beverages is identified as a factor responsible for increasing beer consumption and subsequently driving the demand for brewing enzymes. Higher levels of income are resulting in a higher demand for alcohol and subsequently driving the demand for beer and wine. The nominal per-capita income is estimated to grow at a CAGR of ~8%, which is expected to fuel the growth of the beer industry and is expected to result in high demand for brewing enzyme.

Restraint:

Lack of Uniformity in Regulations
The manufacturers of enzymes are required to comply with regulations imposed by different governing agencies such as the Enzyme Technical Association (ETA), Association of Manufacturers & Formulators of Enzyme Products (AMFEP), and the Food and Drug Administration (FDA). Enzymes in the food industry are required to adhere to the guidelines defined by the Food Chemicals Codex as well. There is lack of a uniform regulatory structure for the use of industrial enzymes, even though stringent regulations are imposed for their in industries in the UK, Canada, and the European Union.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=79318910

Opportunities:

1. Demand for enzymes to increase beer manufacturing efficiency

Beer and wine manufacturers continue to look for advanced solutions to meet safety standards and increase productivity to meet the changes in consumer demand for beer and wine. Key beer and wine manufacturers are mostly focused on increasing the level of efficiency to grow their level of volumes for the production of beer. Brewers who seek raw material cost savings or use of local raw materials may source under-modified malts or increase the ration of adjunct. However, the limiting factor is to ensure an adequate complex of enzymatic activities for high-quality wort. Thus, with the intent of increasing efficiency and optimize raw material usage, many brewers are now focused on commercial enzymes to shorten the production time, increase capacity, and for the use of raw material alternatives to malt.

2. Emerging economies with high growth potential.

The dominance of nuclear double-income families, especially in urban areas in emerging economies contributes to changes in lifestyles among consumers. Changes in consumption patterns have led to an increase in the demand for alcoholic beverages.

Challenges:

1. Low malt prices

Traditionally, the use of barley has been limited to 10-20% of the grist when using high-quality malts. At higher levels of barley or using under modified malts, processing becomes more difficult. In such cases, the mash needs to be supplemented with extra enzyme activity if the brewer is to benefit from the advantages of using unmalted barley while still maintaining brewing performance. Brewers can add a malt-equivalent blend of a-amylase, b-glucanase, and protease. However, traditional brewing practitioners are not inclined towards the use of industrial enzymes, produced by genetically modified microorganisms, in the brewing industry. The use of enzymes such as amylase, glucanase, and protease is hindered by these brewing traditions.

Asia Pacific is projected to be the fastest-growing regional market for brewing enzymes.

The Asia Pacific region is projected to be the fastest-growing market for brewing enzymes over the next five years, owing to an increase in overall economic growth, with diversity in income levels, technology, and demand from end consumers leading to enhanced scope for future growth. The main countries contributing significantly toward the growth of the market in this region are China, Japan, and Vietnam. The malt that is produced in China for beer production is facing a deficit in barley; hence, manufacturers are focusing on building malt production units due to the ongoing increase in domestic demand. Due to barley deficit in this region, commercial enzymes are added to improve the quality of the beer and to fulfill the domestic demand for beer, which drives the usage of enzymes in the brewing process.

This report studies the marketing and development strategies, along with the product portfolios of leading companies such as Novozymes (Denmark), DSM (Netherlands), DowDuPont (US), Amano Enzyme (Japan), Chr. Hansen (Denmark), Associated British Foods (UK), Kerry Group (Ireland), Brenntag (Germany), Enzyme Development Corporation (US), Aumgene Biosciences (India), Biocatalysts (UK), and Enzyme Innovation (US).

Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com

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.

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