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The global brewery equipment market is estimated to be […]
The global brewery equipment market is estimated to be valued at USD 16.8 billion in 2019 and is projected to reach USD 24.0 billion by 2025, recording a CAGR of 6.1% from 2019 to 2025.
The market is driven by factors such China Brewery Equipmentas the growing demand for premium and craft beer, an increasing number of microbreweries and brewpubs, and continuous product innovations in the brewery equipment market. High capital, maintenance costs, and rising power and energy costs are projected to inhibit the growth of the brewery equipment market.
The brewery equipment market has been growing in accordance with the rise in demand and consumption of beer. The changing consumer preferences for artisanal and craft beer, instead of traditional beer or other alcoholic beverages, is driving the market for brewery equipment, globally.
The other factor responsible for driving the global brewery equipment market is the rapidly growing number of microbreweries as well as brewpubs. To meet this growing demand for the latest and energy-efficient equipment, there have been continuous innovations happening in the brewery equipment market, which is attracting beer manufacturers to switch to new equipment instead of existing ones.
The key players in the brewery equipment market include Alfa Laval (Sweden), GEA Group (Germany), Krones Group (Germany), Paul Mueller (US), Praj Industries (India), Meura SA (Belgium), Della Toffola (Italy), Criveller Group (US), Kaspar Schulz (Germany), Ningbo Lehui International Engineering Equipment Co, Ltd. (China), Hypro Group (India), and Shanghai Hengcheng Beverage Equipment Co, Ltd. (China).
The key market players, along with the other players, adopted various business strategies such as new product launches, expansions, acquisitions, agreements, collaborations, and partnerships in the last few years to meet the growing demand for brewery equipment.