According to a new market research report published by Credence Research, “the global market for home beer brewing machines was valued at US$ 11.4 million in 2018 and is expected to grow with CAGR 14.3% over the forecast period.”
The consistent increase in beer consumption worldwide and increasing popularity of home-made beer drive market growth for home-made beer brewing machines. In 2018, the global beer market was projected to grow by around US$ 550.0 billion and is expected to continue to grow by nearly 5.5% at CAGR in the coming years. Growing demand for fresh beer as well as increasing craft preference and draught beer among the millennial population are major market drivers for growth. Other growth drivers of the market are rapid change in consumer lifestyle, rising disposable income, and global adoption of westernization. Easy to install, low cost, better results, easy to use and others are some of the advantages of home beer brewing machines that also help the market to grow. We expect tremendous growth in the global home beer brewing machines market during the forecast period as a result of the above-mentioned factors.
The global market for home beer brewing machines is segmented into automatic and manual based on the mechanism. The automatic segment was the largest segment in 2018, representing over 80% of the same year’s market share of the revenue. Improved design, advanced technical features combined with innovative machine software integration are some of the segment’s major growth factors. Automatic machines are equipped with different features such as fermentation, conditioning, mashing, boiling, packaging, etc. Automatic home beer brewing machines are coupled with features such as Wi-Fi connectivity, smart display, on-smartphone, tablet or other smart devices real-time tracking of the brewing process. The above features of automatic home beer brewing machines set them apart from the machine for manual home beer brewing. We, therefore, expect the automatic segment to continue its dominance over the forecast period.
Based on geography, North America was the market leader in home beer brewing machines market in 2018 backed by the European and Asia Pacific. North America accounts for more than 50% of the same year’s market revenue share. The main growth factor is the growing preference for craft & draught beer and the increasing penetration of homemade beer between millennia. In 2018, craft beer sales in the U.S. grew by about 4%, and now craft beer has nearly 13% market share in the U.S. According to data from the American Homebrewers Association (AHA), about 1.1 million people will be homebrew their own beer in 2017, representing 1% of the total U.S. beer production, i.e. nearly 1.4 million barrels. As a result of these factors, we expect that during the forecast period from 2019-2027, North America will continue its dominance.
Major market players are developing new strategies to increase their market presence, such as product launch. For example, LG Electronics launched the world’s first automated beer capsule-type machine in July 2019. Some of the features of this machine are simple control, automatic cleaning, smartphone application control and others. 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.