Research Nester published a report titled “Brewing ingredients market- Global Demand Analysis and Opportunity Outlook 2020-2028” which delivers detailed overview of the brewing ingredients market in terms of market segmentation by product type, by function type, by end users and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The market for brewing ingredients is anticipated to record a notable CAGR over the forecast period 2020-2028. The rising young-adult demographics along with the demand for beer are boosting the growth of the market. Further, rising consumer preferences as a result of the adoption of western culture is increasing the demand for consumption of beer. Moreover, increase in the major consumer base that is millennials along with the introduction of sweet & non alcoholic beer is propelling the market growth. Based on function type, the market is segmented into fragrance, preservatives, flavours, proteins and others, out of which, the flavours segment anticipated to account for highest market share on the back of use of fruits as an ingredient for flavour in beer and rising preference for different drinking along with the increased demand for flavoured beers. These factors are anticipated to propel the market growth over the forecast period.
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Based on the regional analysis, the market for brewing ingredients is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The brewing ingredients market in North America is estimated to witness highest growth rate on the account of presence of unique beers in the region and expansion of breweries. Moreover, incorporation of new flavors in beer offerings is driving the market growth. The Asia Pacific region is anticipated to be fastest growing owing to the rising population of millennials and urbanization. Additionally, beers of different tastes and flavors are present in the region which is accelerating the demand from working class individuals owing to their increased purchasing powers.
Rising Consumer Spending Along with the Popularity of Beer
The rise in the number of pubs, bars, clubs and lounges are boosting the growth of the market as these places are most common platforms for socializing and friends get together. In addition, promotion of craft beers by government in various economies for the development is further growing the demand for beer. The increasing consumption habits for beer experiences on the back of new product offerings is increasing the consumer spending. Therefore, increase in the disposable incomes along with the growing popularity of beer among tourists will boost the market growth over the forecast period.
However, rising awareness regarding health consciousness along with government regulations and heavy taxation is expected to operate as key restraint towards the growth of brewing ingredients market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the brewing ingredients market which includes company profiling of Anheuser-Busch Companies (EBR:ABI), Boston Beer Company (NYSE:SAM), Heineken N.V. (AMS:HEIA), Carlsberg (CPH:CARL-B), Sierra Nevada Brewing Co., Squatters Pub, Dogfish Head Craft Brewery Inc., United Breweries Ltd (NSE:UBL) and Asahi Group Holdings Ltd (TYO:2502). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the brewing ingredients market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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