The Brewing Supplies Market is poised for robust growth during the forecast period, driven by several key factors. One of the primary drivers is the surging popularity of craft beer, which has captured the taste buds of consumers worldwide. As more people develop a preference for unique and artisanal brews, the demand for high-quality brewing supplies is set to soar.
The global brewing supplies market is expected to grow at a CAGR of 5.6% in the evaluation period (2023 to 2033). The market is estimated to surge from US$ 1,456.2 Million in 2023 to US$ 2,511.1 Million by the end of 2033.
The brewing supplies market is expected to grow at a healthy rate during the forecast period. Growing popularity of craft beer and increasing demand for home brewing kits are set to push the need for advanced brewing supplies worldwide. Besides, rising disposable income and changing lifestyles of people would compel them to spend more on premium beers.
Key players in the global market are expected to benefit from the growing demand for their products and services. These companies are also anticipated to invest heavily in research and development activities to gain a competitive edge over their rivals.
Moreover, various taprooms have established their presence online, albeit in limited form. They have also cut down product lines to put significantly more marketing efforts on a small core set of brands. They are striving to develop these flagship products to stand out among the crowd, especially as more people prefer ecommerce.
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Rising demand for India Pale Ale (IPA) across the globe owing to unprecedented rise in millennial population and changing consumer preferences would propel sales of brewing supplies. Millennials are preferring to try out new products and new flavors. Thus, key breweries are using more of malt to balance the hop flavor of IPA.
Key Takeaways from the Brewing Supplies Market Study:
- The brewing supplies market exhibited growth at a CAGR of 3.4% during the historical period between 2017 and 2022.
- The demand for brewing supplies in Japan is expected to grow at 6.5% CAGR by the end of 2023.
- Sales of brewing supplies in India are projected to grow at a CAGR of 6.2% in the evaluation period.
- The demand for brewing supplies in China is projected to grow at a CAGR of 5.8% in the forecast period.
- The North America brewing supplies market is expected to register an 38% CAGR between 2023 and 2033.
Competitive Landscape: Brewing Supplies Market
Key players operating in the global brewing supplies market are Paul Mueller, Micet, Meura, Kaspar Schulz, Hypro Group, GEA Group, Della Toffola, Criveller Group, Brewtech Tiantai, and Alfa Laval among others.
North America currently holds the largest market share, and this region is expected to continue to expand during the projection period. This can mainly be due to the region’s growing population and rising disposable income levels. Furthermore, the North America brewing supplies market is set to expand rapidly in the next ten years due to the presence of a favorable legal and regulatory environment.
Get Valuable Insights into Brewing Supplies Market
FMI, in its new offering, provides an unbiased analysis of the brewing supplies market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for brewing supplies based on product (fermentation unit, brew house unit, filtration system, maturation unit), category (nano/microbrewery, macro/industrial brewery), application (commercial purpose, industrial purpose), and regions.
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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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