The global brewing supplies market is on the brink of a substantial transformation, with projections indicating a compelling Compound Annual Growth Rate (CAGR) of 5.6% during the period from 2023 to 2033. According to industry experts, this growth trajectory is set to propel the market value from its 2023 figure of US$ 1,456.2 Million to an impressive US$ 2,511.1 Million by the end of 2033.
This growth surge can be attributed to several key factors that are reshaping the brewing supplies landscape on a global scale. One of the primary drivers of this expansion is the soaring popularity of craft beer. Discerning consumers are increasingly seeking unique, artisanal brews, stimulating the need for advanced brewing supplies to cater to this demand. Craft breweries worldwide are leveraging innovative brewing equipment and ingredients to craft distinctive flavors, opening up exciting opportunities for the brewing supplies market.
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The increasing shifts in consumer preference will likely open up new avenues of growth for the brewing supplies market. Millennials, by and large, are opting to try new flavors and products. As a result of this, there’s been a notable surge in the demand for different beer products. For instance, high demand for India Pale Ale (IPA) has been noted in the past few years. Thus, to cater to consumer preferences, many key breweries are using more malt to balance the hop flavor of IPA.
Besides, favorable initiatives by international and start-up breweries are expected to further boost the sales of brewing supplies. Other factors like an upsurge in the number of social gatherings that have pushed the demand for craft beer and growing consumption of beer due to its health benefits are anticipated to spur the demand for brewing supplies over the next couple of years. All of these considerations facilitate the growth of the brewing supplies market during the forecast period.
Key Takeaways:
- The risk of expensive sales tasks, high employee turnover that has proved to be quite costly to the overall business, and issues like obesity and addiction associated with overconsumption are certain factors that may restrict the growth of the market.
- The introduction of the craft movement, the rising urban population, and a desire for experimentation will drive breweries to seek out advanced supplies which augur well for the market.
- Increasing number of breweries will drive the demand for craft beer brewing equipment in Germany. This aspect will encourage the growth of the German brewing supplies market.
- Asia Pacific will emerge as a lucrative pocket for the brewing supplies market as the region houses some of the world’s fastest developing economies.
- By application, the commercial purposes segment will be immensely profitable during 2023 and 2033.
More Insights into Brewing Supplies Market:
In its latest report, FMI offers an unbiased analysis of the global brewing supplies market, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type, application, category, and region.
According to the latest FMI reports, based on segmentation, the commercial application segment will dominate the international space. This category will contribute significantly to the overall market growth owing to the growing consumption of beer.
Based on region, the brewing supplies market in Germany will demonstrate remarkable growth. The target market in this country will dominate the European market. This is due to the surge in the number of breweries in Germany, growing sales of craft beers, a rising population, and a strong economy. India and China will also exhibit considerable growth in the brewing supplies market during the forecast period.
Competitive Landscape:
Paul Mueller, Meura, Kaspar Schulz, Hypo Group, and Micet, among others, are some of the significant players in the brewing supplies market profiled in the full version of the report.
Prominent market players are focusing on releasing innovative products. These businesses are keen on introducing and developing new products along with adopting various organic and inorganic strategies to enhance their market position.
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Brewing Supplies Market Outlook by Category:
By Product:
- Fermentation Unit
- Brew House Unit
- Filtration System
- Maturation Unit
- Others (Milling unit, Malting, Tank pump, etc.)
By Application:
- Commercial Purpose
- Industrial Purpose
By Category:
- Nano /Micro Brewery
- Macro/ Industrial Brewery
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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