Global malt ingredient market was valued at US$ 5,783.9 Mn in 2022, exhibiting a CAGR of 5.7% in terms of revenue over the forecast period (2023 to 2030) to reach US$ 9,044.6 Mn by 2030. Malt is one of the most popular cereal grains that is produced by using barley, which is soaked in water and then dried in hot water. This process allows the germination of barley. This process is called malting. The malting process enables the starches in the grains to be converted into sugars such as glucose and fructose and glucose. There are two types of malt powder available in the market called diastatic and nondiastatic. A diastatic malt product is used during baking in order to ensure the proper rise of the baked product. Nondiastatic does not contain any enzymes and is thus mainly used as a flavor in beverages. It is gaining huge demand as a functional ingredient in the preparation of functional foods such as nutritional foods and drinks as it contains essential vitamin B and amino acids and is also considered a rich source of fiber.
Global Malt Ingredient Market - Trends
Rising consumption of non-alcoholic malt drinks is expected to foster the market growth of malt ingredients. For instance, in August 2019, Coca-Cola launched its global brand Barbican in India, a high-volume non-alcoholic malt drinks market. A non-alcoholic malt drink is a high-energy beverage, brewed in the same fashion as beer or ale. Hence, the rising demand for energy drinks is accelerating market growth.
Growing consumption of sugar-free bakeries is expected to accelerate the market growth of malt ingredients over the forecast period. For instance, in November 2018, Ulrick & Short launches a gluten-free sugar replacer for bakery goods. Avanté 9 is the latest in Ulrick & Short's sugar reduction range and promises to reduce more than 20% of sugar in gluten-free bakery formulations while maintaining the volume, texture, and crumb structure.
Global Malt Ingredient Market - Segmentation
On the basis of the source in 2022, the barley segment has accounted for the largest market share of 61.70% in terms of value, followed by wheat and others. Barley is the most common source of malt ingredients. It is primarily used for malting due to its favourable characteristics such as high enzyme content and starch composition. Wheat is another significant source of malt ingredients. While not as commonly used as barley, it is employed in the production of certain malted beverages and food products.
Figure 2. Global Malt Ingredient Market, By Region, 2022
Global Malt Ingredient Market - Recent Developments
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