Gmi Research's blog : Malt Ingredient Market Size, Share, Analysis | Forecast By 2029
Malt Ingredients Market was valued at USD 22.4 billion in 2021 and is projected to touch USD 33.6 billion in 2029, increasing at a CAGR of 5.2% during the forecast period
Growing health awareness among consumers and increasing consumption of beer and other alcoholic beverages are the major factors fueling the malt ingredients market growth. With the growing awareness about the benefits of malt ingredients, the demand for malt ingredients in the food and beverage industry, which is driving the malt ingredients market size. Other factors such as rising disposable income, growing demand for different ready to consume packaged foods will expand the market growth. Furthermore, the growing use of malt ingredients in the dairy industry for several purposes such as flavoring of the milk and ongoing product innovations such as the advent of dark malt will bolster the market growth. The growing use of malt ingredients to prepare both alcoholic and non-alcoholic drinks such as beer, whiskey, malted shakes, and malt vinegar as these ingredients are a rich source of essential macro and micronutrients including vitamins B complex, proteins, zinc, iron, calcium and low-fat content, thus making them a preferred choice as a food and beverage additive. However, the easy availability of alternative ingredients at a cheaper price as compared to the malt ingredients and unstable the raw material costs may hamper the growth of the global malt ingredients market share.
Raw Material Segment Analysis
Barley segment is forecast to witness a promising CAGR over the upcoming years, as it is used in the malting process. The increasing awareness about the benefits of barley such as hypertension, low chances of diabetes, and diarrhea among consumers will expand the market growth. Moreover, the growing use of barley in the beverage industry due to its high starch content, enzyme property, and proteins.
Type Segment Analysis
Based on the type, Malt extract segment will experience a promising growth during the forecast period, due to the growing demand for high nutritional rich food products. In addition, malt extract includes vitamins and enzymes, which increases the shelf life of baked products has bolstered the demand for malt ingredient food products in the food and beverage industry.
End-Use Segment Analysis
Based on the End-Use, Beverage’s segment is expected to witness a faster growth over the forecast period, owing to the increasing demand for alcoholic beverages like beer, vodka, whiskey.
Based on the region, Europe is expected to lead the global malt ingredients market due to the strong presence of bakery and brewery across nations including Spain, Germany, France, U.K., Italy, and Netherlands. Furthermore, the growing emphasis to produce and process malt ingredients to improve the application base will further fuel the regional growth.
- In 2019, Vivescia industries subsidiary of Malteurop Groupe S.A. planned to build its first malt production factory in Mexico.
- In 2018, Axereal Group planned to acquire Cargill’s global malt business, including 15 facilities across four continents.
- In 2018, Malteurop Groupe S.A. expanded its malt production capacity from 80 to 200 thousand tons in Australia.
Global Malt Ingredients Market by Raw Material
Global Malt Ingredients Market by End-Use
- Food & Beverages Industry
- Bakery Products
- Dairy & Frozen Food
- Pet Food
- Pharmaceutical Industry
Global Malt Ingredients Market by Product Type
- Malt Extract
- Dry Malt Extract
- Liquid Malt Extract
- Malt Flour
Global Malt Ingredients Market by Grade
- Specialty Malt
- Caramelized Malt
- Roasted Malt
- Standard Malt
Global Malt Ingredients Market by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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