According to a new market research report published by Credence Research “Home Beer Brewing Machines Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall home beer brewing machines market worldwide was valued at US$ 11.4 Mn in 2018 and is set to grow with 14.3% CAGR during the forecast period.
Consistent increase in beer consumption worldwide and growing popularity of homemade beer are driving the home beer brewing machines market growth. The global beer market was projected around US$ 550.0 Bn in 2018 and is expected to continue growing at CAGR of nearly 5.5% in years to come. Growing demand for fresh beer along with increasing preference of craft and draught beer among millennial population are major growth driving factors for the market. Rapid change in consumer lifestyle, rising disposable income and adoption of westernization globally are other growth driving factors of the market. Easy to install, low cost, better outcomes, easy use and others are some of the benefits of home beer brewing machines which are also helping the market to grow. As a result of aforementioned factors, we are expecting tremendous growth in the global home beer brewing machines market during the forecast period.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/home-beer-brewing-machines-market
Based on mechanism, the global home beer brewing machines market is segmented into automatic and manual. Automatic segment was the largest segment in 2018, accounting for over 80% of the market revenue share in the same year. Improved design, advanced technical features coupled with innovative software integration in the machines are some of the major growth factors for the segment. Automatic machines are equipped with various features such as fermenting, conditioning, mashing, boiling, packaging and others. Automatic home beer brewing machines are coupled with features such as Wi-Fi connectivity, smart display, real-time tracking of brewing process on the smartphone, tablet or other smart devices and others. The aforementioned features of automatic home beer brewing machines set them apart from manual home beer brewing machine. Therefore, we expect that the automatic segment will continue its dominance throughout the forecast period.
Based on the geography, in 2018, North America was the market leader in the home beer brewing machines market backed by Europe and Asia Pacific. North America accounts for over 50% of the market revenue share in the same year. Growing preference for craft & draught beer and increasing homemade beer penetration among millennial are the major growth factor. In 2018, in U.S. the sales of craft beer grew by around 4% and now craft beer has nearly 13% market share in the U.S. According to the data from American Homebrewers Association (AHA), in 2017, around 1.1 Mn people homebrew their own beer and they represent 1% of the total U.S beer production i.e. nearly 1.4 Mn barrels. As a consequence of these factors, we expect that North America region will continue its dominance during the forecast period from 2019-2027.
You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/60024
Major market players are developing new strategies such as product launch to increase their market presence. For instance, in July 2019, LG Electronics launched world’s first capsule-type automated beer machine. Simple control, automatic cleaning, smartphone application control and others are some of the features of this machine. New product launch and mergers/acquisitions with malt makers will be some of the major strategies by major players in years to come. Some of the major companies profiled in the report include, Brewie and PicoBrew, Speidel Tank-und Behälterbau GmbH, WilliamsWarn Ltd, BrewJacket LLC, BREWART, LG Electronics, HOME BREW WEST, AIBrew Corp., NEWITY Ltd., and others.
Report Scope by Segments
By Product Type
• Mini Brewer
• Full Size Brewer
By Mechanism Type
By Geography Segment Type
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)