Beer Adjuncts Market Size, Future Growth, Share, Supply, Demand, Segments and Forecast 2022-2029
The global beer adjuncts market size was valued at USD 53.97 billion in 2021. It is projected to reach from USD 56.09 billion in 2021 to USD 83.22 billion by 2029 at a CAGR of 5.80% during the forecast period. The market is anticipated to expand due to the rising investments in the vertical integration business model to develop new products. Fortune Business Insights™ stated this in a report titled, “Global Beer Adjuncts Market, 2022-2029.”
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List of the Companies Profiled in the Global Beer Adjuncts Market:
- Kirin Holdings Company, Limited (Japan)
- Heineken N.V. (Netherlands)
- Constellation Brands Inc (U.S.)
- China Resources Beer (Holdings) Company Limited (China)
- Cervejaria Petropolis S/A (Brazil)
- Carlsberg Breweries A/S (Denmark)
- Anheuser-Busch InBev SA/NV (U.S.)
- Asahi Group Holdings Ltd (Japan)
Rising Application of Unmalted Grains will Favor Market Growth
Based on type, the market is classified into unmalted grains, sugar, cassava, potatoes, and others. The unmalted grains are further subdivided into unmalted corn, unmalted rice, and other. The unmalted grains segment will dominate due to its application of improving the levels of bioactive compounds to improve the characteristics of the beer.
Rising properties of the dry Segment will encourage the Adjunct Market
In terms of form, the market is categorized into liquid and dry. The dry segment will have expected to rule due to its abundant availability, longer shelf life, and convenient storage.
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The report provides insights into the regional analysis covering different regions, contributing to the market’s growth. The report includes qualitative and quantitative analysis of several factors, such as the key drivers and restraints that will impact the market. Adopting strategies by major players to introduce partnerships, collaboration, and new products will contribute to the market’s growth.
Drivers and Restraints
Rising Number of Small-Scale Brewers Worldwide will likely Promote Market Growth
The growing number of alcohol consumers worldwide supports product sales growth. For instance, in 2021, consumption of beer volume in the U.S. increased by 1.0%, wherein craft beer consumption holds nearly 13.1%, according to Brewers Association. One of the reasons that bolstered the demand for the product is the rising number of small-scale brewers worldwide. With the introduction of local players, major players are investing in the vertical integration business model to develop new products with different flavors is expected to raise the demand for the product. For instance, in November 2021, one of the largest brewing companies in Nigeria, Nigerian Breweries plc, invested around USD 189 million to promote sorghum and cassava cultivation capacity in the upcoming five years.
Growing Number of Craft Beer Manufacturers Promotes Growth in Asia Pacific
Asia Pacific held the prominent global beer adjuncts market share and is expected to lead the global market during the forecast period due to the rising number of craft beer manufacturers and microbrewers across the region.
North America is anticipated to grow tremendously during the forecast period due to the growing adoption of different cultures supported by increased income, customer associations, and robust economy.
Europe is expected to showcase significant growth due to the increased number of market entrants in the beer industry.
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Market Players are investing in Product Rollouts to establish their Footprints in the Marketplace
Leading companies such as Carlsberg Breweries A/S, Heineken N.V., and Anheuser-Busch InBev SA/NV will likely invest in product rollouts and beer adjuncts products in the market to establish their footprints in the marketplace. With soaring investments in R&D, the key market players are trying to develop new safe formulas for health.
- June 2022: Zambian Breweries PLC, declared an investment of USD 80 million to expand its current production activities to meet the production targets.
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