Microbrewery Equipment Market to increase by USD 14.9 billion from 2022 to 2027, Changing tastes and preferences of consumers boosts the market growth - Technavio

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Oct 20, 2023, 04:15 ET

NEW YORK, Oct. 20, 2023 /PRNewswire/ -- The microbrewery equipment market size is expected to grow by USD 14.9 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 15.85% during the forecast period. The market is segmented by type (automatic, manual, and semi-automatic) and geography (North America, Europe, APAC, South America, and Middle East and Africa).

Technavio has announced its latest market research report titled Global Microbrewery Equipment Market 2023-2027

The changing tastes and preferences of consumers drive the market growth. There has been a significant increase in craft beer sales over the years. The rising variety of craft beer flavors, such as Vidalia onion, guava, chocolate, and coconut, has piqued consumers' interest, leading to a rise in demand. Hence, such factors drive the market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample

Key Highlights:

The report recognizes the following as some of the key players in the microbrewery equipment market: ALFA LAVAL, ATS Automation Tooling Systems Inc., Criveller Group, Della Toffola Spa, GEA Group AG, Hypro Engineers Pvt. Ltd., KASPAR SCHULZ GmbH, KRONES AG, LEHUI, Malt Handling LLC, MEURA SA, Norland International, Paul Mueller Co. Inc., Portland Kettle Works, Pro Refrigeration Inc., Rite Engineering and Manufacturing Corp., Shanghai Equipment Co. Ltd., Specific Mechanical Systems Ltd., SpectraA Technology Solutions Pvt. Ltd., and BrauKon GmbH
Microbrewery Equipment Market is fragmented in nature.
Market to observe 9.25% YOY growth in 2023.

Market Dynamics:

Trend

The increasing consumption of craft beer on-premises is an emerging trend in the market.
On-premise distribution channels comprise establishments where consumers purchase and consume craft beer on-site, including bars, pubs, clubs, restaurants, and hotels.
In addition, the growth of the on-trade distribution segment is largely driven by the millennial population's increasing consumption of craft beer at bars and pubs.
Hence, such factors drive the market growth during the forecast period.

Challenges

The presence of substitutes hinders the market growth.
The craft beer and beer markets face severe competition from other alcoholic beverages including wine and spirits, which are in high demand and consumption globally.
In addition, a wide variety of spirits, including whiskey, scotch, and vodka, attract a large number of consumers.
Hence, such factors hinder the market growth during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Key Segments:

The market share growth by the fermentation systems segment is significant during the forecast period. There is an increase in the adoption of fermentation systems across microbreweries as the process takes the longest time compared with the other processes involved in the production of craft beer. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio