The global demand for malted milk is projected to grow at a steady CAGR of around 5.5% during the forecast period between 2022 and 2032. The market for malted milk is expanding as malted milk is becoming more popular across a variety of businesses, including food and beverage, bakeries, dietary supplements, etc.
Although the production of malted milk began in North America and Western Europe, the demand for it has increased significantly throughout Asia. The primary factor behind the expansion of the malted milk business in these nations is a focus on health.
Malted milk has long been popular in developing countries, but more recently, the market for the product has had potential to expand due to rising disposable income and an increase in upper-class consumers’ awareness of their health.
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Malted milk market is capitalizing on the global snacking trend
Manufacturers are capitalising on diversifying their snack portfolios to meet customer demand as eating habits and snacking habits among people around the world change. Important players in the confections sector are creating bite-sized sweets that invariably contain malted milk powder. In order to compete with the major giants, well-known firms are concentrating on extending their production capabilities in the South East Asian market. Other producers are also developing novel product lines, such as cookies made with malted milk powder and other baking goods.
While the participants are concentrating on malted milk’s “healthy” messaging for millennials, this strategy is primarily targeted at the baby boomers demo graph. The majority of malted milk-based beverages, which are eaten as nutritional drinks, are, however, expected to experience a fall during the projection period. This is because, unlike in the past, when merely effective marketing worked, consumers today are aware of the scientific consensus that backs the health claims made for malted milk. For several of the major brands of malted milk-based drinks over the past few years, fraudulent health claims have proven to be especially lethal.
Global Malted Milk market: Key Market Participants
Examples of some of the market participants in the global malted milk market identified across the value chain are Imperial Malts Ltd., Briess Malt & Ingredients, Muntons plc, SSP Pvt Limited, Insta Foods, Family Cereal Sdn. Bhd., Food & Biotech Engineers India Private Limited., Nestlé S.A. and King Arthur Flour Company, Inc.
Malted Milk Market: Key Developments
In 2017, the company Nestlé S.A., which is a manufacturer of confection products, expanded its malted milk product portfolio by introducing a ready-to-drink malted milk beverage in India, through its Indian subsidiary, under its brand Milo. The product is available in cocoa flavor and specially targeted for growing infants.
In the same year, the company also introduced a malted milk powder in a sachet packaging format in Myanmar, under the Bear Brand. The product is aimed at the adults in this country to fight iodine deficiency. Through this move, the company is also focusing on strengthening its footprint in Myanmar.
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Opportunities for Malted Milk Market Participants:
There are very few organic offerings in the malted milk market, despite its demand. Also, growing health consciousness for the gluten-free diet has opened new doors of opportunity for the malted milk market wherein malted milk made from whole grains can be developed. Also, the rate of inclusion of ancient grains such as teff, quinoa, sorghum, and millet, is also very low in the malted milk food, but the market for these grains is growing at an exorbitant rate, reflecting the demand for consumers and signaling the call to include them in malted milk food.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges in the Malted Milk Market
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from malted milk industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments of the malted milk. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Malted Milk Market: Segmentation:
On the basis of source, the malted milk is segmented into
- Barley
- Wheat
- Others
On the basis of end user, the malted milk market is segmented into
- Retail
- Food Industry
- Dairy
- Bakery
- Confection
- Snacks
- Milkshakes & smoothies
- Dietary supplements
- Others
On the basis of distribution channel, the malted milk market is segmented into
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Discount Stores
- Convenience Stores
- Specialty Stores
- Online Retailers
- Others
On the basis of packaging, the malted milk market is segmented into
- Carton packs
- Jars
- Tins
- Others
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the malted milk industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments in the malted milk market
- Competitive landscape
- Strategies of key players and malted milk products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for malted milk market players to sustain and enhance their market footprint
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