South America brewing enzymes market is projected to grow at a CAGR of 4.08% during the forecast period, 2020 - 2025.
- The South American brewing companies strive to develop alternate methods of production, to maximize their profits and capture a larger consumer base by making the product available at a lower cost, thus, the major players emphasize on innovation to develop new products that suit the consumer preference in the domestic market.
- The market faces certain restraints, like the cost for infrastructure required for the production is very high and thus they are dependent on cheaper alternatives to continue production and the enzymes operate only under optimum conditions of temperature, pressure, and pH.
Key Market Trends
Amylase Emerges as a Prominent Brewing Enzyme
The production of alcoholic beverages along with the development of advanced spirit processing techniques and their acceptance is anticipated to propel the demand for the market. Despite rising inclination of manufacturers toward plant-sourced enzyme, the microbe derived amylase that is bacterial and fungal based amylase holds the largest market share. The trend can be attributed to its abundant and cheap availability when compared to plant-based amylase and a more affluent application offered during formulation.
Brazil Held the Largest Market Share
Despite the struggling economic condition of the country, Brazil held maximum share in regional enzymes market, owing to the vast consumer base and relatively improved demand. Moreover, Brazil has a significant direct sales channel within the region, which provides the manufacturers with an opportunity to have direct access to consumer sentiments. Coupled with consumer sentiments, the products from the manufacturers are gaining popularity in the market.
South America brewing enzymes market is fragmented. Some of the major players in the market are The Soufflet Group, Kerry Inc., and Koninklijke DSM N.V., attributable to their huge product offerings and stronger market penetration. Active companies are striving on their novelty values and entering long term contracts with food manufacturers to retain their market share for the long run.
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