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(India.CityRegions.Com, June 24, 2021 ) Global Brewing Ingredient Market was valued at USD 32.45 billion by 2020 which expected to reach USD 48.2 billion by 2027 at a CAGR 6.5% from 2020-2027.
Change in lifestyle and the increasing disposable income in the developing nations, expected to drive the growth of global brewing ingredient market during this forecast period. Furthermore, the growing preference for low alcohol by volume beverages & the sales of no-alcohol and low-alcohol beers have been rising with the increasing interest from health-conscious consumers & a wider choice of new ranges with improved taste. There is trend towards low alcohol beers which expected to boost the market growth over the forecast period.
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Various key players are listed in this report such as Cargill, Incorporated, Boortmalt, Rahr Corporation, Malteurop Groupe, Lallemand Inc, Angel Yeast Co. Ltd., Lesaffre, Viking Malt, Simpsons Malt, Maltexco S.A., etc.
Impact of COVID-19 on Market
The COVID-19 pandemic has brought serious medical, social as well as economic challenges across the globe. It is seen that the majority of key players operating in the manufacturing sector expect COVID-19 to impact their operations. The grim expectations have become a reality in the sector due to the increasing oil prices and growing demand and supply bottlenecks which results in a slowdown of expenditures and increasing uncertainty in credit markets.
On the basis of source, market is segmented into Malt extract, Adjuncts/Grains, Hops, Beer yeast, and Beer additives.
On the basis of brewery size, market is segmented into Macro brewery, and Craft brewery.
On the basis of form, market is segmented into Dry, and Liquid.
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• Malt extract
• Beer yeast
• Beer additives
By Brewery Size
• Macro brewery
• Craft brewery
• North America
• Latin America
• Asia Pacific
• Middle East & Africa
The Global Brewing Ingredient Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Countries in the APAC region such as China and India, are expected to witness the fastest growth in the brewery ingredient market, owing to its increasing demand for beer. Also, the growing disposable income of the people urbanized population, expansion of key companies in many countries as well as increasing craft breweries across the region.
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