Increased Usage of Wort Concentrate in Microbreweries and Craft Brewers is driving the Wort Extract Market
The production of wort concentrate is very time-efficient as compared to the production of other brewing raw materials. Therefore, several market players are expressing interest in the production of wort concentrate and the presence of a large number of market participants is boosting the share of the wort concentrate market in the overall alcohol industry. Brewing with wort concentrate lowers the investment costs as it demands lower labor, energy & water requirements and simplifies the brew production processes. As a result, the wort concentrate market is experiencing high consumption in small breweries or other microbrewers that cannot afford other costlier brewing ingredients. Besides being economical, wort concentrate also helps microbrewers compete with the dominant and larger alcohol producers by helping them produce and offer their premium quality and specialty craft beers that are produced from different varieties of wort concentrate. This increased consumption and a subsequent increase in the demand for wort concentrate by microbrewers and craft brewers is driving the wort concentrate market.
Global changes in consumption patterns have resulted in the demand for healthier ingredients. To cater to these demands, manufacturers such as Döhler and Breiss are offering gluten-free wort concentrate. The wort concentrate market has significant potential to expand globally, however, this opportunity is hampered by the heavy import-export taxes that are being implemented on beer and other alcoholic beverages, which also vary from country to country.
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Wort Concentrate Market: Key Participants
Some of the key market participants identified in the global wort concentrate market are Döhler Natural Food and Beverage Ingredients, Black Rock, Patagonia Malt and Briess Malt & Ingredients, which are some of the top international manufacturers of wort concentrate. Some other examples of wort concentrate market participants include Avery Brewing Co., which is one of the key consumers and Brewstore ltd., which is one of the key distributors.
Wort Concentrate Market: Key Developments
Strategic steps of development, such as mergers and acquisitions, are resulting in the development of the overall market. For instance, Döhler, one of the key producers of wort concentrate, periodically participates in mergers & acquisitions for business growth. The most recent acquisition by the company was that of Nutrafood, an Italy-based food ingredients manufacturing company in October, 2018.
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The wort concentrate market is developing with the launch of new distribution channels. For instance, in the 2017, Briess Malt & Ingredients launched its e-commerce portal called Better Brewing (betterbrewing.com) to sell its home brewing ingredients. Concentrated Brewers Wort® (CBW®) was one of the products among various others that were made available for purchase through this online purchasing site for consumers. With this, the company contributed to the easier availability of wort concentrate to consumers, which has led to the development of the wort concentrate market.
Opportunities for Wort Concentrate Market Participants
Wort concentrate is majorly consumed by small microbrewers because of its economic benefits. Thus, it has a greater potential for growth if consumption increases in large breweries. Furthermore, the wort concentrate market has large growth opportunities if the manufacturers of wort concentrate incorporate new developments and innovations into their product portfolio by producing it from some untraditional raw ingredients such as rye malt or different varieties of malt blends. Moreover, the better availability of the raw material for the production of wort concentrate can enhance the production capacity and help the manufacturers of wort concentrate meet the ever-increasing demand for their product.
The research report presents a comprehensive assessment of the wort concentrate market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as product type, application, and end use.
The report covers exhaustive analysis on: Wort Concentrate Market Segments Wort Concentrate Market Dynamics Wort Concentrate Market Size Wort Concentrate Supply and Demand Current Trends/Issues/Challenges pertaining to Wort Concentrate Market Competition Landscape and Emerging Market Participants in Wort Concentrate Market Technology related to Production/Processing of Wort Concentrate Value Chain Analysis of the Wort Concentrate Market
Regional analysis includes: North America (U.S., Canada) Latin America (Mexico, Brazil) Europe (Germany, U.K., France, Italy, Spain, Poland, Russia) East Asia (China, Japan, South Korea) South Asia (India, Thailand, Malaysia, Vietnam, Indonesia) Oceania (Australia, New Zealand) Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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