Research and Markets has announced the addition of the “Global Microbrewery Equipment Market 2017-2021” report to their offering, which you can purchase via that link. Using an in-depth market analysis with inputs from industry experts, the report covers the market landscape and its growth prospects over the coming years.
To calculate the market size, the report considers the revenue generated from the various type of equipment such as fermentation systems, mashing systems, cooling systems, filtering systems and others.
The big headline from said report is the expectation that the global microbrewery equipment market will grow at a CAGR (what cool kids call compound annual growth rate) of 17.13 percent during the period 2017-2021.
Um… oh. Cool. (looks around room) Tell me more?
According to the report, one of the major drivers for this market is (shocker) the growing prominence of craft beer. And a big part of that now is how large brewers are expanding to the craft beer market, says the report. Many large beer companies are entering the markets in developing countries because of its growing popularity and the increasing consumption of craft beer. Large companies are building their craft beer brands or buying craft beer brands to gain a share of the marketing and distribution network of small brewers.
Further, the report states that one of the major factors hindering the growth of the craft beer market is presence of substitutes. The craft beer market and the beer market are facing intense competition from other types of alcohol beverages such as wine and spirits. This is because the demand and consumption of wine and spirits are high globally. A wide range of spirits such as whiskey, scotch and vodka attract a large number of individuals.