The global brewing enzyme market is anticipated to exhibit a considerable CAGR during the forecast period (2020-2026). The high consumption of beer across the globe is making a considerable contribution to the high share of the global market. A steady rise in the demand for premium alcoholic beverages, such as beer, wine, and spirits has Brewers over the years. The brewing enzymes play a critical role in the production of these alcoholic beverages such as beer, wine, and play; therefore, the high demand for these beverages is anticipated to increase their production rate which in turn is anticipated to drive the growth of the brewing enzyme market across the globe. According to the US Census population statistics, based on beer shipment data, the US consumers 21 years and older had consumed 25.9 gallons of beer and cider per person during 2019. The US consumes an average of over 67.4 billion bottles of beer per year.
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According to the Breweres of Europe, in 2017, beer consumption in Europe stood for 412 Million Hl. According to the Distilled Spirits Council, in 2018, spirits gained market share than beer and wine with sales rising seven-tenths of a point to 37.4% of the total beverage alcohol market in the US. American Whiskey is the major driver for the sales growth of distilled spirits, which is up 6.6% or $224 million to $3.6 billion in 2018. The spirits sector is led by millennials who demand innovative and higher-end products. Since 2007, Texas wet/dry elections have enhanced reach to spirit products for up 6.2 million on-premise and 2.8 million people for off-premise. Rising US spirits exports is the major factor contributing to the increasing sales growth of the country’s distilled spirits.
Canada, UK, Japan, France, Vietnam, and Mexico are the major exporting markets for US spirits. The US exports to Canada were valued $234 million in 2018, up 16.6% from 2017, while UK and Japan were valued $191 million and $116 million in 2018, increased by 2.7% and 4.1%, respectively. The total US spirits exports across the globe were amounted to $1.8 billion in 2018, increased by 9.5% from 2017. This significant rise in the US exports of spirits across several countries represents the increasing demand for spirits products and thereby primarily driving the demand for brewing enzymes for its production.
Global Brewing Enzyme Market Segmentation
By Type
By Source
By Form
Global Brewing Enzyme Market Segmentation by region
North America
Europe
Asia-Pacific
Rest of the World
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