New York City, NY, 20 November, 2019/ 24 Market Reports: It is estimated for the beer processing market to reach USD 812.1 billion by 2025 from that of USD 679.8 billion in 2019 at a CAGR of 2.93% during the forecast period of 2019 to 2025. The rising trend of low- or no-alcohol and organic beer coupled with the increasing number of microbreweries, as well as brewpubs are the factors driving the growth of the market during the forecast period. Also, product innovations and advancements in the brewery equipment market have led to the increasing need for updated and sustainable brewery equipment among beer processors.
Lager segment held the majority of the market share in the year 2018 and the trend is likely to continue during the forecast period. The segment witnessed a total sales of USD 374.2 billion, equivalent to 57.4% of the total beer market, in terms of value. Nowadays, a trend of consuming craft and speciality beers is witnessed with an increasing consumer base, although the lager segment continues to dominate the global beer processing market, in terms of value.
The fermentation equipment segment is projected to be the largest beer processing market during the forecast period in the macro brewery equipment market. Warm, cold, and spontaneous are the three major types of fermentation of beer based on the type of beer to be produced. Typical fermentation equipment is a stainless vessel with a cylindrical top and conical bottom.
Owing to the growing trend of craft beer consumption and the rising number of craft breweries, especially microbreweries, and brewpubs the craft brewery segment is projected to grow at the highest CAGR during the forecast period. Beer is manufactured using a variety of ingredients to achieve the desired aroma, body, flavour, and finish in the craft breweries. To create varieties, some constant experimentations and innovations are being undertaken even though the process is traditional.
During the forecast period, it is projected for North America to be the fastest-growing region in the brewery equipment market. The growth in the market is propelled by the high growth rate in North America and the increasing investments by leading beer manufacturers for expansions and also to the fact that the region is witnessing significant demand for craft beer.
Due to the rising demand for beer and easy availability of raw materials, Mexico is considered as one of the most favourable markets for beer manufacturers. The US is the second-largest beer-producing country in the world in 2017 and is witnessing a significant rise in the number of breweries. Due to these factors, the brewery equipment market witnesses a high growth rate in this region. North America, Europe, the Asia Pacific, and Rest of the World are the segmentation for the market based on geography.
Download a Full Report on "Currency Counting Machines Market" Click Here