The Brewing Enzymes Market is expected to reach USD 585 million by 2028, growing at a CAGR of 6.8% between 2021 to 2028. The brewing enzymes market is boosted by the increase in the beer and industrial enzyme market. Multinational companies resume making huge investments to expand their market range and banding with domestic operators, to capture markets in different regions.
- The amylase segment is projected to expand at the fastest CAGR exceeding 7% over the forecast period owing to the increasing cost-effectiveness, and reduced time and ease to optimize the process involving amylase.
- The beer segment held a market share of around 30% in 2020. Beer is a beverage fermented from grain mash which is made from barley or a blend of several grains thereby having high demand.
- Asia Pacific is expected to expand at a CAGR of over 9.21% from 2021 to 2028. This surge is attributed to the rising demand for brewing enzymes market in developing economies such as China and India.
Some of the key players in the brewing enzymes market include Novozymes, DSM, DowDuPont, Amano Enzyme, Chr. Hansen, Associated British Foods, Kerry Group, Brenntag, Enzyme Development Corporation, Aumgene Biosciences, Biocatalysts, and Enzyme Innovation., among others. The market is comprised of a high degree of competition due to the presence of numerous key players.
The growing market for alcoholic beverages has affected the demand for the brewing and distilling sector thereby experiencing considerable growth during the past years. Customers around the globe are aiming for distinctive and delicious beers, thus pushing the market for brewing enzymes.
North America is expected to record the highest CAGR, owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. The development in the production of wine and flavored beers. Additionally, the rise in domestic usage of premium goods with greater taste and property boosts the production of beers and wine is expected to play a key role in expanding the market size.