Upcoming Growth Trends in the Feed Antioxidants Market

The report "Feed Antioxidants Market by Type Synthetic (BHT, BHA, Ethoxyquin, and Propyl Gallate) and Natural (Carotenoids, Tocopherols, Botanical Extracts, and Vitamins), Animal (Poultry, Swine, Aquaculture, Cattle, and Pets), Form, Region - Global Forecast to 2025", is estimated at USD 356 million in 2019 and is projected to grow at a CAGR of 4.9% from 2019 to 2025, to reach USD 474 million by 2025. Factors such as a rise in demand for quality feed, improved technology for feed production, and an increase in the standardization of meat products stimulate the growth of the feed antioxidants market across the globe.

The powder segment for dry feed antioxidants is projected to account for the largest market share, by form

The powder form of feed antioxidants dominated the dry segment. Powders are estimated to witness higher demand as they are convenient to coat over the feed. In addition, as the size of the powder form is consistent, it helps to be coated on the feed easily. Antioxidants such as carotenoids, ethoxyquin, BHT, BHA, and TBHQ are available in this form. These antioxidants are preferred as they are also easy to use in combination with other feed antioxidants.

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The poultry segment is projected to account for the largest feed antioxidants market share, by animal

In poultry production, one of the major factors for feed is the cost; hence, reducing feed costs per bird is a priority. Poultry production has to be efficient as feed has to be converted into meat and eggs. Feed costs can be reduced by adding feed additives such as enzymes and antioxidants, which increase digestibility and prevent the loss of nutrients, with the result that the poultry gains more nutritional value from the same amount of feed. Companies such as Cargill, Koninklijke DSM N.V., and Kemin provide feed antioxidants such as carotenoids, tocopherols, synthetic antioxidants and citric acid, BHT, butylated hydroxyanisole (BHA), and tocopheryl acetate for the poultry industry.

The Asia Pacific region is projected to account for the largest market share during the forecast period.

Asia Pacific accounted for the largest share of the feed antioxidants market in 2018. Asia Pacific, being the largest continent with a relatively fast economic development, is witnessing a rising demand for meat. Consequently, to produce quality meat, feed antioxidants are gaining importance and being incorporated to prevent spoilage and increase shelf-life.

This report includes a study of marketing and development strategies along with the product portfolios of leading companies in the feed antioxidants market. It includes the profiles of leading companies such as Cargill (US), Archer Daniels Midland Company (US), Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Nutreco (Netherlands), Kemin (US), Adisseo (France), Perstorp (Sweden), Alltech (US), Caldic (Canada), Novus International (US), Chemical Fine Sciences (India), Oxiris Chemical (Spain), VDH ChemTech (India), Zhejiang Medicine (China), BTSA (Spain), Bertol Company (Czech Republic), FoodSafe Technologies (US), Videka Company (US), Lallemand Animal Nutrition (Canada), and Industrial Tecnica Pecuaria (Spain).

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Key Questions Addressed by the Report:

• What are the growth opportunities in the feed antioxidants market?
• What are the major and new product launches in the feed antioxidants market?
• What are the significant trends that are disrupting the feed antioxidants market?
• What are some of the major regulatory challenges and restraints that the industry faces?
• Which region is projected to emerge as a global leader by 2025?

Latest Regulatory Trends Impacting the Water Soluble Packaging Market

The water-soluble packaging market is estimated to be valued at USD 2.8 billion in 2019 and is projected to reach USD 3.7 billion by 2025, recording a CAGR of 5.0% during the forecast period. The increasing demand for sustainable and green packaging drives the market growth for water-soluble packaging.

Key players in this market include Lithey Inc. (India), Mondi Group (Austria), Sekisui Chemicals (Japan), Kuraray Co. Ltd. (Japan), Mitsubishi Chemical Holdings (Japan), Aicello Corporation (Japan), Aquapak Polymer Ltd (UK), Lactips (France), Cortec Corporation (US), Acedag Ltd. (UK), MSD Corporation (China), Prodotti Solutions (US), JRF Technology LLC (US), and Amtopak Inc. (US).

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Kuraray Co. Ltd (Japan) is a key supplier, offering products in categories such as resins, chemicals, fibers, and textiles based on polymer and synthetic technologies. Its operations focus on becoming a specialty chemical company, which is growing sustainably by incorporating new foundational platforms into its own technologies. It is pursuing competitive superiority by creating new demand and by developing high-value-added and customized products and applications such as transfer printing technologies and dust abatement technologies based on client requirements. MonoSol, a subsidiary of Kuraray Co. Ltd., led the way with its unit dose technology, collaborating with marketers to develop laundry detergent products and created a new product category, water-soluble film-packaged products in the detergent industry. It encapsulates laundry and dishwasher pods or packs, which would eliminate the need to pour and measure liquids or powders.

In 2018, the company established a water-soluble film manufacturing facility in Indiana, US. The development helped the company to strengthen its market position in the US.

Aquapak Polymer Ltd (UK) is a privately held company headquartered in Birmingham and one of the leading developers, manufacturers, and distributors of biodegradable and marine safe polymer films for packaging. The company works in collaboration with the brands and retailers, and packaging manufacturers to design circular economy solutions to replace single-use plastic packaging.

Aquapak Polymer Ltd. offers polymer-based products under the brand, Hydropol. Product is categorized as water-soluble, stable & storable, heat-sealable, electrostatic-resistant, and ultraviolet-resistant.

In October 2019, the company launched garment packaging bags made from Aquapak polymer Ltd. in collaboration with Finisterre (UK), a garment company . The company aims to replace traditional packaging with soluble packaging.

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The water soluble packaging market in Asia Pacific is projected to witness high growth due to the strong local and export demand. The rising population and growing number of manufacturing industries in Asia Pacific is the key factor driving the market for water soluble packaging. The manufactured product is used domestically as well as exported. China and Japan are the hubs for water soluble film production. In India, the population is increasing rapidly, and the country is striving for a safe, better, clean, and healthy lifestyle. The water soluble packaging market will grow in these regions at a high rate.

Key Questions Addressed by the Report:

• What are the growth opportunities in the water soluble packaging market?
• What are the major raw materials used for manufacturing water soluble packaging?
• What are the key factors affecting market dynamics?
• What are some of the significant challenges and restraints that the industry faces?

Enteric Disease Testing Market Growth by Emerging Trends, Analysis, & Forecast

The report "Enteric Disease Testing Market by Technology (Traditional and Rapid), End Use (Food (Meat, Poultry, Seafood, Dairy, Processed Foods, and Fruits & Vegetables) and Water), Pathogen Tested, and Region - Global Forecast to 2026", The market for enteric disease testing is estimated at USD 1.8 billion in 2021; it is projected to grow at a CAGR of 6.0% to reach USD 2.4 billion by 2026. The increase in global food production impacts the food enteric disease testing market growth by increasing the number of food safety controls in each step from raw material procurement till the product reaches the consumers. Further, food manufacturers are willing to pay for testing and certification and have included this practice in their manufacturing cycles. With consumers becoming increasingly aware about the food and water-borne illnesses and stringent regulations to meet international standards, there is growing demand for enteric disease testing market.

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Salmonella pathogen is estimated to account for the largest market share in the by pathogen for enteric disease testing market.

Increasing instances of food contamination and foodborne poisoning are the major reasons for the growth of the enteric disease testing market. Pathogens such as Salmonella are highly occurring contaminants in cereals & grains and are also known as enteric bacteria often caused by birds or rodents during harvesting. Salmonella also causes contamination in meat, poultry, fruits, and vegetables. A several number of cases are found for diarrhea and cholera, resulting in several deaths caused by Salmonella infected food. These factors are paving way for growth of testing for Salmonella within the enteric disease testing market.

By technology, the rapid testing technology sub-segment is estimated to account for the fastest growth in the enteric disease testing market.

The rapid technology market has been proved as a driver for the enteric disease testing market owing to the attributes such as low turnaround time, higher accuracy, sensitivity, and ability to test a wide range of contaminants in comparison to traditional technology. Increasing food trade across borders, rising food consumption, changing lifestyles of consumers, and demand for convenience & processed food have led to the growing demand for enteric disease testing in countries around the world, especially in the booming markets of Europe.

The meat, poultry and seafood sub-segment by end use is estimated to account for the largest market share of enteric disease testing market over the forecast period.

The meat, poultry, and seafood segment is estimated to dominate the enteric disease testing market in 2021. Due to easy susceptibility to microbial and other contaminations along with the growing number of tests for meat, poultry, seafood products has resulted in the growth of the market. Stringent government policies & regulations for meat, poultry, and seafood products and assurance of safe meat to consumers have led to consistent enteric disease testing with checkpoints at different stages to eliminate any incidences of meat contamination.

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Europe is projected to be the fastest-growing market for the forecast period.

The market in this region is primarily driven by growth in the German and UK markets. It is also driven by European food policies that have been extensively emphasized by the National Reference Laboratories (NRLs) and the European Reference Laboratories (EURLs) to maintain food standards and protect consumer health. Campylobacter has been the most commonly reported food outbreak, with an increase in confirmed human cases in the European Union (EU). The market is further fueled by the presence of major enteric disease testing companies such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), and Intertek Group plc (UK), which are continuously investing and collaborating for the development of better and faster testing technologies to aid conformity to various enteric disease regulations.

Key Market Players:

Key players in this market include SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas (France), ALS Limited (Australia), and TÜV SÜD (Germany). Key players in this market are focusing on increasing their presence through mergers & acquisitions and new product developments, specific to consumer tastes in these regions. These companies have a strong presence in Europe and North America. They also have manufacturing facilities along with strong distribution networks across these regions.

Crop Protection Chemicals Market: Growth Opportunities and Recent Developments

The report "Crop Protection Chemicals Market by Type (Herbicides, Insecticides, Fungicides & Bactericides), Origin (Synthetic, Biopesticides), Form (Liquid, Solid), Mode of Application (Foliar, Seed Treatment, Soil Treatment), Crop Type and Region - Global Forecast to 2025" The global Crop protection chemicals size is estimated to be valued USD 63.7 billion in 2020 and is projected to reach a value of USD 74.1 billion by 2025, growing at a CAGR of 3.1% during the forecast period. The growth of this market is attributed to an increasing need for food security of the growing population.

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Driver: Increase in need for food security owing to the rise in population

According to the International Food Policy Research Institute, almost 690 million people went hungry around the world in 2019, an increase of 10 million over 2018, and the COVID-19 pandemic could push an additional 83 milllion-132 million into chronic hunger in 2020, according to the 2020 State of Food Security and Nutrition in the World (SOFI) report, released July 13. The report provides the latest authoritative estimates on global hunger, malnutrition, and food insecurity.

State of Food Security and Nutrition in the World (SOFI) 2020 projects that 841.4 million people will be hungry globally by 2030 if these trends continue, and the world will not achieve its 2025 and 2030 targets of defeating malnutrition. According to the FAO Chief Economist, attributed these alarming findings to the unaffordability of healthy diets, noting that globally, 3 billion people lack the means and access to good nutrition. In order to transform food systems to reduce these costs, policy makers must look at both supply and demand. Policies should enhance the efficiencies of the food supply chain and subsidize production of nutritious foods; at the same time, expanding social safety nets and policies that encourage behavioral change can promote healthier diets.

Opportunity: Rapid growth in the biopesticides market and organic agriculture

Biopesticides are pesticides produced naturally, with minimum usage of chemicals. Since growing environmental considerations and the pollution potential and health hazards from many conventional pesticides are on an increase, the demand for biopesticides has been rising steadily in all parts of the world. Biopesticides are growing in popularity, due to their less or non-toxic nature as compared to synthetic pesticides. Moreover, biopesticides provide more targeted activity to desired pests, unlike conventional pesticides that often affect a broad spectrum of insects, birds, and mammalian species. Further, biopesticides can be very effective in small quantities, offering lower exposure and are quickly decomposable; they leave virtually no harmful residue after application.

The synthetic segment dominated the market for Crop protection chemicals by source.

Synthetic crop protection chemicals are manufactured in laboratories and are mixtures of chemicals that intend to avert, kill, repel, or destroy any pests. Synthetic crop protection chemicals are perceived to be toxic and dangerous if proper chemicals are not used. However, since the past 60 years, various innovative synthetic crop protection chemicals have been developed which are less toxic and more effective on crops. Due to innovative product development by the leading crop protection chemical manufacturing companies such as BASF SE (Germany), various new and more pest-specific synthetic crop protection chemicals are being developed, which cause less damage to the environment.

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Asia Pacific is the fastest-growing market during the forecast period in the global Crop protection chemicals

The key markets in the Asia Pacific region include China, India, Japan, and the Rest of Asia Pacific. The Asia-Pacific, a region where agricultural systems and technologies vary from one country to another, consists of about 40%, that is, 600 million hectares of the global crop area. Rice cultivation and the predominance of small-scale manufacturers are widely seen across all the countries of the Asia-Pacific region.

The increasing awareness about pesticides and continuous technological advancements are factors contributing to the growth of this market. In addition to this, the growing demand for crops and rising cultivation in the countries of Asia-Pacific have forced agribusiness companies to expand their supplier and manufacturing base in the region.

Upcoming Growth Trends in the Biofertilizers Market

The report "Biofertilizers Market by Form (Liquid, Carrier-Based), Mode of Application (Soil Treatment, Seed Treatment), Type (Nitrogen-fixing, Phosphate solubilizing & Mobilizing, Potash Solubilizing & Mobilizing), Crop Type, and Region - Global Forecast to 2026" The global biofertilizers market size is estimated to be valued at USD 2.6 billion in 2021 and is expected to reach a value of USD 4.5 billion by 2026, growing at a CAGR of 11.9% in terms of value during the forecast period. Factors such as growth in consumer preference for organic food products, adoption of soil fertility management practices, serious concerns regarding the control of nitrate emissions and eutrophication in the aquatic environment, and government promotions for the use of organic fertilizers are some of the factors driving the growth of the biofertilizers market.

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COVID-19 Impact on the Biofertilizers Market:

The global market has witnessed a relatively stable market growth post-COVID-19 pandemic, with a similar trend of high demand in 2020. Biofertilizers can be developed easily, and therefore, are run by domestic manufacturers. As the produce can be manufactured by local companies, the supply chain has not been affected much due to the crisis. Therefore, local manufacturers are projected to dominate the market in most of the countries. There has been a significant increase in food crop production, such as soybean, in South America, fruits & vegetables in European countries, rice in Asian countries. In addition, there is repetitive cultivation due to the increased need in each country to step up domestic food production. Hence, biofertilizer is an effective tool, which helps in replenishing soil nutrition and has gained a high demand in the market. In addition, due to the ban on harmful chemical pesticides, the growth of the market for biofertilizers has not dropped significantly. With the relaxation of restrictions by the government, the market for biofertilizers is projected to grow significantly in the future.

Driver: Growth in the organic food industry

Consumers nowadays are becoming highly concerned about food safety issues, the rising residue levels in food, and environmental issues, due to the rising concerns about their health. This rise in awareness has induced them to prefer chemical-free food products. As a result, major supermarket chains such as Wal-Mart and Cosco are increasing their product offerings of organic foods. The restaurant industry in many developed countries is also offering organic food menus to serve health-conscious consumers. The growth in the organic food industry is triggering the demand for biofertilizers and organic manures, as these are pre-requisites of organic farming. With the outbreak of the COVID-19 pandemic, people have become more conscious about healthy organic food products, which has driven the market growth of biological inputs, such as biofertilizers. These factors have increased organic retail sales in many countries, such as the US, Germany, China, Switzerland, and Denmark.  

Seed treatment by mode of application drives the market during the forecast period

By mode of application, the seed treatment segment is projected to have the highest CAGR during the forecast period. In seed treatment, biofertilizers such as Rhizobium, Azotobacter, and Azospirillum. are applied as coatings on seeds. This is the most common method of applying biofertilizers, as it is easy and generally effective under most conditions. This helps to encapsulate small amounts of functional microorganisms on it, which enables the plant to provide nitrogen for the roots, to uptake the nutrients. Seed treatment is extensively carried out for legume seeds for the purpose of nitrogen fixation.  

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North America  is the fastest-growing market during the forecast period in the global market

The North American market is projected to dominate the market due to the rising demand for organic products, increasing acceptance of biofertilizers among rural farmers, and high adoption of advanced irrigation systems such as drip & sprinkler irrigation for fertigation. A stringent regulatory environment in addition to a growing preference for the usage of biofertilizer products has led to the favorable growth of the market. Industrialization, mining, and urbanization have led to a decrease in arable land in North America.

Key Marker Players:

Key players in this market include Novozymes A/S (Denmark), Vegalab SA (Switzerland), UPL Limited (India), Chr. Hansen Holding A/S (Denmark), Kiwa Bio-Tech (China), Lallemand Inc. (US), Rizobacter Argentina S.A. (Argentina), T. Stanes & Company Limited (India), IPL Biologicals Limited (India), Nutramax Laboratories Inc. (US), Symborg (Spain), Kan Biosys (India), Mapleton Agri Biotech Pty Ltd (Australia), Seipasa (Spain), AgriLife (India), Manidharma Biotech Pvt Ltd (India), Biomax Naturals (India), Jaipur Bio Fertilizers (India), Valent BioSciences (US), Aumgene Biosciences (India), Agrinos (US), Criyagen (India), LKB BioFertilizer (Malaysia), Varsha Bioscience and Technology India Pvt Ltd. (India), and Valagro (Italy).   

Animal Disinfectants Market to Showcase Continued Growth in the Coming Years

According to MarketsandMarkets "Animal Disinfectants Market by Application (Dairy Cleaning, Swine, Poultry, Equine, Dairy & Ruminants, and Aquaculture), Form (Liquid and Powder), Type (Iodine, Lactic Acid, Hydrogen Peroxide), and Region - Global Forecast to 2026", The global animal disinfectants market size is estimated to be valued at USD 3.0 billion in 2021. It is projected to reach USD 4.3 billion by 2026, recording a CAGR of 7.2% during the forecast period. The market has a promising growth potential due to several factors, including the rising awareness regarding hygiene and sanitation amidst this COVID-19 pandemic and increasing demand for meat and other animal products.

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COVID-19 Impact on the Animal Disinfectant Market

The impact of COVID-19 lockdown was tremendous in scale across the globe and profound especially in the key consumption markets for animal disinfectants. The demand for disinfectant products channelized for the livestock sector has remained high, with manufacturing plants for both disinfectants and water treatment being utilized at almost full capacity for companies such as Lanxess. However, the supply-chain disruptions in the key emerging markets, especially Mexico and Central America, negatively impacted the sales, albeit for a temporary period. The last mile connectivity to small and medium-scale livestock farms suffered a setback due to weakness in the distribution channels. Prominent players in the market such as Neogen expect a surge in demand with markets opening up gradually, and thus, capacity-building remains among the major focus areas. Key giants have also embarked on inorganic growth strategies by acquiring regionally-prominent disinfectant manufacturers and thereby strengthening their geographical outreach. Livestock disinfectant companies are also intensifying their efforts to develop a plethora of anti-bacterial, anti-fungal, and anti-viral solutions in the wake of growing concerns for zoonotic diseases.

Restraint: High entry barriers for players

The high costs associated with the development and registration of animal disinfectant products can result in small to medium-scale companies losing out to larger players. Another barrier for smaller players entering the market is the dynamic nature of the market itself, which has recently witnessed prominent players intensively seeking to consolidate their position through inorganic growth attempts such as acquiring smaller market players. New companies showing disruptive potential become the key targets for acquisitions by larger players such as Neogen Corp. and CID Lines.

Prominent players in the market are intensively seeking to increase their market share with the combination of inorganic and organic growth trajectories with former holding precedence in the form of growing number of acquisitions witnessed in recent years. The regulatory framework in the developed markets of North America and Western Europe is very stringent, with growing focus on good hygiene practices (GHP) which are cost-intensive thereby hindering the entry of small to medium-scale enterprises.

On the basis of application, dairy cleaning segment is expected to retain its dominance in the foreseeable period

Dairy cleaning is a terminal biosecurity measure, which is carried out at regular intervals. Due to the cost factor for larger cattle herds, the use of dairy cleaning has a greater significance in the developed markets. Countries in regions such as Europe and North America maintain large-scale farms and dairy farms required to maintain proper dairy cleaning measures to ensure the efficacy of the livestock and the equipment.

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Asia Pacific is projected to be the fastest-growing region in the animal disinfectant market.

The animal disinfectant market in Asia Pacific is driven by growing inclination towards animal-based food products that have prompted stakeholders in supply-chain to ramp up their production and intensify rearing leading to greater demand for cleaning and hygiene products, including disinfectants. The region has also witnessed growing regulatory focus on the Good Hygiene Practices (GHP) that are embedded as part of various mandatory regulations to be followed at dairy, poultry, swine, equine and aquaculture sectors. Markets in South East Asia such as Singapore and Malaysia are providing vital cues to improve hygiene infrastructure in animal husbandry and this trend is largely adopted by other countries in the region such as Thailand, Vietnam, Indonesia where there is a strong need to implement robust disinfection protocols.

Key Market Players

Key global market players offer wide range of animal disinfectant products to improve animal health and performance. Prominent livestock disinfectant manufacturers have strong presence in the European and North America countries. The key companies in the animal disinfectant market are Neogen Corporation (US), GEA (Germany), Lanxess AG (Germany), Zoetis (US), Kersia Group (France), and CID Lines (Belgium). Various strategies, such as expansions, mergers & acquisitions, and new product launches, were adopted by the key companies to remain competitive in the animal disinfectant market.

Brewing Ingredients Market Will Hit Big Revenues In Future

The report "Brewing Ingredients Market by Source (Malt Extract, Adjuncts/Grains, Hops, Beer Yeast, and Beer Additives), Brewery Size (Macro Brewery and Craft Brewery), Form (Dry and Liquid), and Region - Global Forecast to 2026" The brewing ingredients market was valued at USD 34.5 billion in 2021 and is projected to grow at a CAGR of 6.8%, to reach USD 47.9 billion by 2026. The rise in the global population and increasing disposable income in developing economies are creating new avenues for alcoholic beverages.

The brewing ingredients market includes five major sources: malt extract, adjuncts/grains, hops, beer yeast, and beer additives. Malt extract is further bifurcated into standard malt and specialty malt. Specialty malt is sub-segmented into crystal, roasted, dark, and others. Different types of beers are obtained by using different sources of brewing ingredients. For instance, roasted malt is used for producing the porter type of beer. The malt extract segment dominated the global market for brewing ingredients and accounted for a larger share in 2020. Beer additives accounted for the second-largest market share in terms of revenue in 2020.

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COVID-19 Impact on the global brewing ingredients Market

The outbreak of COVID-19 has brought serious medical, social, and economic challenges. It is seen that the majority of the companies operating in the manufacturing sector (53%) expect COVID-19 to impact their operations. The grim expectations have become a reality in the sector due to the rise in oil prices and increasing demand & supply bottlenecks which results in a slowdown of expenditures and rising uncertainty in credit markets. Players across the globe in the food & beverage industry have faced a drastic decrease in the consumption of their products. Due to lockdowns in several parts of the world and restrictions on transportation of commodities, companies are also facing disrupted supply chains. The reduced agricultural production interrupting the raw material supply, lack of workers in manufacturing plants, and disturbances in the distribution system have disrupted supply chains.

Opportunity: Introduction of new flavors in beer

The increase in beverage consumption has led to intense competition amongst beer brands, resulting in the introduction of new flavors and increasing beer consumption. There is a growing popularity for craft beers as it offers various flavors besides the regular flavors offered by macro breweries. The introduction of new ingredients and innovative flavors, combining salty, fruity, and tart flavors, by craft beers, has found an increasing appeal among the millennial crowd globally. Some of the macro brewers are also acting on to respond to these changing demands from consumers. For example, Heineken USA, in 2021, launched Dos Equis Lime & Salt variety pack of lager beer. Similarly, Latambarcem Brewery (India), in 2020, launched a new craft beer brand called Maka di that currently serves four brews: Honey Ale, Belgian Tripel, Bavarian Keller, and Belgian Blanche. The introduction of these new flavors is projected to increase the sales and consumption of beer. Thus, this is anticipated to provide ample opportunities to players operating in the global market.

By brewery size, the craft brewery is estimated to grow at a higher growth rate in the brewing ingredients market.

According to the Brewers Association, an American craft brewer is a small and independent brewer, where small breweries have an annual production of 6 million barrels of beer or less. The craft brewing industry contributed USD 82.9 billion to the US economy in 2019, with more than 580,000 employees. The average alcohol by volume (ABV) content of a craft beer is 5% to 10%, but some of the most popular craft beers have an ABV of as high as 40%. On the other hand, beer produced in bulk by macro breweries has an ABV of 4% to 6% and as little as 2%. Craft breweries offer different flavors, which allow consumers with different tastes to cater to their preferences. These factors are driving the growth of the craft brewery segment in the global market.

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The increasing demand for beers in the Asia Pacific countries drives the region's growth rate at a higher pace.

The Asia Pacific region comprises two high-growth economies: India and China. The drinking preferences of the population in this region are gradually shifting toward alcoholic culture. The large, increasing population and the growing market mean that the demand for brewing ingredients is still promising. Another factor is the densely populated areas that are not completely tapped by beer manufacturing and brewing ingredient companies. Hence, beer produced in macro breweries and craft breweries still has a high-growth rate. Moreover, the increasing spending capacity of consumers has led to a surge in demand for craft beers.

The APAC region held the largest share in the brewing ingredients market. The demand for different beers with various flavors and different ABV is driven by economic growth, drinking culture in countries such as Vietnam and South Korea, urbanization, and the rise in the purchasing power of consumers.

Key Market Players:

Key players in this market include major players such as Cargill, Incorporated (US), Angel Yeast Co. Ltd. (China), Boortmalt (Belgium), Malteurop Groupe (France), Rahr Corporation (US), Lallemand Inc. (Canada), Viking Malt (Sweden), Lesaffre (France), Maltexco S.A. (Chile), and Simpsons Malt (UK) . These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific, and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.