In this study, two dynamic models of beer fermentation are proposed, and their parameters are estimated using experimental data collected during several batch experiments initiated with different sugar concentrations. Biomass, sugar, ethanol, and vicinal diketone concentrations are measured off-line with an analytical system while two on-line immersed probes deliver temperature, ethanol concentration, and carbon dioxide exhaust rate measurements. Before proceeding to the estimation of the unknown model parameters, a structural identifiability analysis is carried out to investigate the measurement configuration and the kinetic model structure. The model predictive capability is investigated in cross-validation, in view of opening up new perspectives for monitoring and control purposes. For instance, the dynamic model could be used as a predictor in receding-horizon observers and controllers.