Microbrewery Equipment Market Predicted To Witness Steady Growth During The Forecast Period 2030
Market Dynamics
Numerous players operating at the local and regional levels control the market. Manufacturers of large-scale microbrewery distillery equipment are investing heavily in improving their facilities and concentrating on research and development in order to release environmentally friendly microbrewery distillery equipment. Microbreweries are small breweries that make small batches of handcrafted beer. The perception of microbreweries has shifted from small breweries to full-service establishments, resulting in an increase in the number of microbreweries around the world. Several well-known major breweries are also venturing into the microbrewery market to capitalize on lucrative opportunities and expand their consumer base. The global microbrewery equipment market is growing rapidly as a result of these factors. Furthermore, beer is one of the top five most popular drinks worldwide, which favors market growth for commercial microbrewery equipment.
Microbreweries are requesting after-sales services to extend the life of their microbrewery equipment package in the current market. In microbreweries, continuous processing of beer degrades the physical quality of the equipment since it is in constant contact with various materials, hot water, and alcohol. Microbreweries require after-sale facilities to maintain the equipment's efficiency and extend its lifetime. As a result, industry players who provide after-sale services to their customers are projected to see improved revenue and growth in the coming years.
The global microbrewery equipment market's growth is being hampered by the need for a large amount of working capital and high energy costs to produce microbrewery equipment. Due to intense market competition, increasing demand for other alcoholic drinks, and a growing demand for environmentally friendly brewing equipment, manufacturers are facing challenges. However, growing demand for craft beer in developing countries in Asia-Pacific and South America is driving the establishment of microbreweries in these regions, which is expected to provide market players with growth opportunities.
Microbrewery Equipment Overview
Microbrewery Equipment Market Size is slated to surpass USD 26.21 Billion by 2030 at a CAGR of 5.9% over the review period of 2023 to 2030.
Market Segmentation
By type, the market is segmented into Fermentation Equipment, Mashing Equipment, Cooling Equipment, Others. In 2018, the Fermentation Equipment segment had the highest market share, and this is expected to continue throughout the forecast period. Fermentation is an integral aspect of the craft beer manufacturing process. Fermentation equipment is typically customized to assist microbreweries in producing the perfect craft beer by making the fermentation process easier. Such equipment is continuously exposed to various chemicals, alcohol, and ingredients used in the brewing of beer, resulting in rapid degradation. As a result, there is a constant need to maintain and replace fermentation equipment, which is fueling the segment's development. The value of the mashing process during brewing, where hot water is combined with the ingredients to hydrate the grain and cause malt enzymes to turn starch into fermentable sugars, can be attributed to the growth of the mashing section. Furthermore, players in the industry are concentrating on developing automated and specialized mashing equipment with additional features.
By mode of operation, the market has been segmented into semi-automatic & automatic, and manual. Due to increasing automation of the production process to increase performance, the Semi-Automatic & Automatic segment accounted for the largest market share in 2018 and is expected to register the highest CAGR during the forecast period. Brewing equipment that is semi- or fully automated has been built because of technological advances. This increases productivity and aids in the production of consistent batches of beer. Microbreweries are adopting semi-automatic and automatic brewing equipment in both developed and developing countries, which is expected to provide lucrative growth opportunities for market players.
Regional Overview
Due to the presence of many microbreweries and brewpubs in the region, Europe is the largest market, accounting for more than 45 percent of revenue in 2018. Furthermore, the region's high demand for craft and premium beer is propelling market growth.
Due to the demand for craft beer in countries like India, Australia, and New Zealand, the Asia-Pacific regional market is expected to rise at the fastest pace during the forecast period. Many restaurateurs in India are choosing to open microbreweries rather than traditional bars, which is fueling regional market growth.
Competitive Dashboard
The notable players are ICC Northwest, Inc. (US), Krones AG (Germany), LEHUI (China), BrauKon GmbH (Germany), Paul Mueller Company (US), MEURA (Belgium), Della Toffola SpA (Italy), Shanghai HengCheng Beverage Equipment Co., Ltd (China), ALFA LAVAL (Sweden), and GEA Group Aktiengesellschaft (Germany).
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