Global Malt Ingredient Market was valued at US$ 5,789.9 Mn in 2022, exhibiting a CAGR of 5.7% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ XX Mn by 2030. According to Malt Ingredient Market, By Product Type (Dry Malt, Liquid Malt, Malt Flour, Others), By Source (Barley, Wheat, Others), By Application (Bread, Biscuits, Brownie, Cookies, Cakes & Pastries, Doughnuts, Pizza, Others), By Grade (Standard, Specialty), and By Region (North America, Latin America, Asia Pacific (APAC), Europe Middle East & Africa (MEA)) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027. Published by: Coherent Market Insights
Malt ingredients are mainly produced from barley, rye, sorghum, wheat, and oats by using the malting process. Barley malt is widely used in the preparation of functional foods and beverages such as beer, malt vinegar, whiskey, and malted milk. It is a rich source of protein and vitamin B thus its consumption supports good health. They are widely used as an additive and flavoring agent in the preparation of distilling, brewing, and in producing foods. They are available in the form of dry malt, liquid malt, flakes, and malt flour. Out of which liquid malt is commonly used as a syrup and topping on confectionery food products. Bakery and confectionery products, dairy and frozen products, alcoholic and non-alcoholic beverages, pharmaceuticals, and animal feed are some of the application areas of malt ingredients.
Drivers
Rising health-conscious consumers around the globe are predominantly fuelling the market growth of malt ingredients. According to the Coherent Market Insights analysis, malted barley extract replaces sugar, needed for feeding yeast at a ratio of three- fourth in bakery products; 12 oz of malted barley extract replaces 16 oz of sugar. Health-conscious consumer prefers sugar-free or less sugary food products, and this is a factor projected to propel the demand for malt ingredient-based bakery products in the future.
Market Opportunities
The rising demand for malt-flavored beverage is projected to foster market growth. For instance, in September 2019, United Brands announced the launch of SWIRL Beverage Company, an invigorating new brand with a multi-tiered product line under the United Brands umbrella. SWIRL’s debut product is zero sugar and a low-carb, 8% ABV flavored malt beverage that is at the front of the trend line for consumers and retailers alike.
Market Restraints
The shortage of grain supply is expected to hinder the market growth of malt ingredients. According to Coherent Market Insights analysis, in March 2020, owing to a poor harvest in most malt grain-producing regions of the world, beer, bakery, and pharmaceutical industries like in Asia-Pacific, North America, Europe redions that are beginning to face a shortage of grains required for malting. Thus, a shortage of grains is expected to hamper the market growth of malt ingredients over the forecast period.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/malt-ingredient-market-3693
Key Takeaways:
On the basis of the source, the barley segment dominated the global malt ingredient market in 2022 with a 61.70% of market share in terms of value, followed by wheat and others.
Market Trends
Increasing adoption of smart strategies such as partnerships and agreements for enhancing their market presence is expected to foster market growth. For instance, in October 2019, Puratos Group and Estonian Malt have announced the signature of a joint venture agreement launching ‘Puratos Malt’.The joint venture (JV) builds on this successful collaboration so that both companies can together shape the future of sprouted grains. This is expected to boost the growth of the market. Puratos NV provides confectionery products. The Company offers chocolate coatings, cocoa and nut-based fillings, and decoration products, as well as produces bakery, custard cream, and mousse mixes, Puratos serves customers worldwide
The growing popularity of ready-to-eat food products is expected to foster market growth. For instance, in February 2015, the MOM Brands flagship Malt-O-Meal brand of ready-to-eat cereals announced the launch of a new national integrated marketing campaign focused on building awareness of its extensive assortment of great-tasting, affordable cereals.
Competitive Section:
Key players operating in global malt ingredient market includes Axereal Group, Cargill Incorporated, RAGLETH LTD., GrainCorp Malt Group, IREKS GmbH, Dohler GmbH, VIVESCIA Industries, Muntons plc, Polttimo Oy, Malt Products Corporation, Briess Malt & Ingredients Co., Malteries Soufflet SAS, and Simpsons Malt Limited
Recent Developments
- In May 2021, Muntons introduced a brand-new, premium malt extract without alcohol. According to the manufacturer, the extract is adaptable, simple to use, and created to add body, mouth-feel, and taste. The brewers can produce alcohol-free options without the need for expensive machinery thanks to the alcohol-free malt extract.
