Asia Pacific to become a top market for microbrewery equipment by 2033
The global microbrewery equipment market is forecast to grow by 3.3% CAGR between 2023 and 2033 with Asia Pacific leading the way, according to a recent report by Future Market Insights (FMI), a market research company.
The sector includes such items as milling and mashing equipment, fermentation equipment, filtration systems, brew house equipment, control & monitoring tools, and filling and packaging solutions.
According to FMI, the global market value is estimated at about US$986.2 million for 2023, and is likely to exceed a market valuation of US$1,364.5 million by 2033. The Asia Pacific region is expected to emerge as the most lucrative microbrewery equipment market because of significant growth in the number of microbreweries and a growing demand for craft beer.
Asian countries such as China and India are also investing heavily in research and development activities related to beer brewing.
As a consequence, FMI forecasts that China’s microbrewing equipment market could expand by 5.7% CAGR during the forecast period, making it one of the most lucrative markets in East Asia. Growth will be fueled by fast-rising consumption of beer due to changing lifestyles, rising disposable income, and a workforce eager to embrace new technologies and ideas.
Innovation by beer-making equipment manufacturers for a variety of tasks such as supporting liquor store growth, improved yeast management, a greater emphasis on the ingredients in the barrels, and energy sources, should also help propel growth in the sector, according to the report
Moreover, beer-making equipment manufacturers are successfully implementing new strategies such as product diversification, mergers, collaborations, long-term partnerships, and facility expansions to improve their product offerings, efficiencies and market reach. There is also likely to be increased acquisition activity between craft breweries and the large multinational breweries providing further opportunities, says the report.
