Brewing Enzymes Market Drivers, Restraint, Opportunities, & Challenges

05/mar/2019 10:08:58 MarketsandMarkets Contatta l'autore

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The brewing enzymes 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 changing 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. Rise in the near future, rise in technological innovations, rise 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

The objectives of this study are to define, segment, and project the size of the brewing enzymes market based on the type, application, source, form, process, and key region.

  • Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions
  • Analyzing demand-side factors based on the impact of macroeconomic factors such as GDP, population size, per capita income, the beer & wine industry, and microeconomic factors such as technological advancements, growing innovations, and the cost / price of enzymes used in the market
  • Identifying and profiling key players in the brewing enzymes market
  • Providing a comparative analysis of the market leaders on the basis of the following:
    • Product offerings
    • Business strategies
    • SWOT (strengths, weaknesses, opportunities, threats)
    • Key financials
  • Understanding the competitive landscape and identifying the major growth strategies adopted by players across key regions
  • Prominent market players Analyzing the market dynamics and competitive situations & trends across regions and their impact

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The amylase segment is expected to dominate the brewing enzymes market through 2023.

In 2017, the amylase segment accounted for a larger share, by type, in the brewing enzymes market, in terms of value. Amylase is a catalytic enzyme that allows the conversion of starch to form different products such as dextrins, oligosaccharides, maltose, and some glucose molecules. Amylases are mainly used in industries because of their cost-effectiveness and less-time-consuming processes; they are also easy to modify and optimize processes involving them. Microorganisms are considered the best source of these enzymes. Due to the limited availability of malt. Used with the brewing process, enzyme requirement is low. Thus, in regions such as Asia Pacific and Africa, where they have limited access to malt,

The beer segment to dominate the brewing enzymes market through 2023.

Beer is the major application in which brewing enzymes are most widely used. The consumption of brewing enzymes depends on the amount of beer produced. The major enzymes that are used to produce beer include amylase, beta-glucanase, and protease. It is gaining popularity, especially among young consumers, two to its new flavors, varieties, and labels. Further, the growth of microbreweries is also driving the use of enzymes in the beer segment.

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, with an increase in income levels, technology, and demand from consumers growth. China, Japan, and Vietnam The main countries contributing significantly to the growth of the market in this region. The malt that is produced in China for beer production is facing a deficit in barley; Therefore, manufacturers are focusing on building demand. The use of enzymes in the brewing process is to increase the quality of the beer and to satisfy the domestic demand for beer.

In this region, countries such as China and Japan are expected to account for a major share of the market. Vietnam is projected to be one of the fastest-growing markets for brewing enzymes in the Asia Pacific region.

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).

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Opportunities:

1. Demand for enzymes to increase beer manufacturing efficiency

Beer and wine producers continue to look for the consumer demand for beer and wine.  Key beer and wine producers are focused on increasing the level of efficiency.  Brewers who seek raw material savings or use of local raw materials may be under-modified malts or increase the ration of adjunct.  However, the limiting factor is an adequate complex of enzymatic activities for high-quality wort.  Raw material usage, many brewers are now focused on the production 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 these cases, the mash needs to be supplemented with extra enzyme activity.  Brewers can add to the 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.

Drivers:

1. Forecasted high cereal price trend

Despite the high production estimates for cereals, as for FAO estimates for 2017, their prices are expected to increase in the coming years. Seen with sharp rise. The FAO cereal index (Japanese) is 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 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 higher demand for alcohol and consequently driving demand for beer and wine. The nominal per capita income is expected to grow at CAGR of ~ 8%, which is expected to fuel the growth of the beer industry and is expected to result in the high demand for brewing enzyme.

Restraint

1. Lack of Uniformity in Regulations

 

The Manufacturers of Enzyme Technical Association (ETA), the Association of Manufacturers and Formulators of Enzyme Products (AMFEP), and the Food and Drug Administration (FDA). Enzymes in the food industry Codex as well. There is a lack of a uniform regulatory structure for the use of industrial enzymes, even if stringent regulations are imposed on their industries in the UK, Canada, and the European Union.

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