The specialty malt market was valued at USD 2,800 million. From 2021 to 2032, it is projected to increase at a compound annual growth rate (CAGR) of 3.6%, reaching a market value of around USD 3988 million.
The specialty malt market is a segment within the larger malt industry that focuses on producing unique and specialized malt varieties for various applications in the food and beverage sector. Specialty malts are created by modifying the traditional malting process to achieve specific flavor, color, and aroma characteristics desired by brewers, distillers, and food manufacturers.
Specialty malts are known for their distinct and complex flavors, which can range from caramel and toffee notes to roasted and nutty profiles. These malts are often used in the production of craft beers, spirits, and specialty food products to add depth, complexity, and unique sensory experiences.
The growth of the specialty malt industry can be attributed to the increasing consumer demand for premium and artisanal products. Craft breweries and distilleries have gained popularity worldwide, leading to a greater need for specialty malts to differentiate their offerings and cater to evolving consumer tastes. Additionally, the culinary industry has embraced specialty malts, incorporating them into gourmet recipes and innovative food creations.
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The specialty malt industry was valued at USD 2,800 million in 2022, and it is predicted to increase at a CAGR of 3.6% from 2022 – to 2032, attaining a market value of USD 3988 million. Among the sources of specialty malt, barley is by far the most common grain used in malting for a range of applications.
Specialty malt is used on a large scale in a number of important food and beverage businesses. In the brewing of beer and the creation of malt-based beverages, specialty malt plays a crucial role. It’s widely used in alcoholic beverages as a flavouring and colouring agent, and it’s in high demand. The primary driver of specialty malt market growth is increased use of malt-based alcoholic and non-alcoholic beverages. Furthermore, increased consumption of malt-based beverages in developing markets such as India and China has fuelled growth.
Key Takeaways:
- The specialty malt industry was valued at USD 2,800 million in 2021, and it is predicted to increase at a CAGR of 3.6 percent from 2021 to 2032, reaching a market value of USD 3988 million.
- Specialty malt is used on a large scale in a variety of key food and beverage businesses. In the brewing of beer and the creation of malt-based beverages, specialty malt plays a crucial role.
- The Specialty Malt industry is predicted to be worth USD 191 million, with a 22 percent market share.
- China grew at a spectacular 6.9% compound annual growth rate (CAGR). China has a market value of USD 307 million and a market share of 32% in the specialty malt.
- With a market share of 65 percent, the U.S is one of the world’s largest marketplaces for malt beverages, with a total market value of USD 691.6 million.
“Changing taste and preference and inclination towards alcoholic beverage made of specialty malt is likely to boost the growth of specialty malt market. There are many application other than being used as a major component in alcoholic beverage like application of maltose as sweeteners in various food industries to replace sugar which is better option for consumer who are health conscious,” says a lead analyst at Future Market Insights.
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Competitive Landscape:
The distribution network is a challenge for specialty malt producers. The most significant concern is the squeeze on manufacturers’ profit margins, as retail retailers deliver products with reduced profitability even when no reductions are offered. At the same time, retailers are increasing their demands for more frequent delivery from local producers in order to cut their warehousing costs. Malts are commonly used in distilleries to make spirits, whiskey, and other alcoholic beverages. The increasing usage of malt in brewers and distilleries, together with the expanding demand for flavoured whiskeys around the world, is driving the rise of the alcoholic drinks market.
Key Companies Profiled are: Malteurop Groupe, Soufflet Group, Cargill, GrainCorp Ltd., Axereal Group and others
Explore More Valuable Insights
Future Market Insights, in its new report, offers an unbiased analysis of the global Specialty Malt industry , presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Segmentation of Specialty Malt Market
By Application:
- Distilling
- Brewing
- Baking
- Non-Alcoholic Malt beverages
By Source:
- Barley
- Rye
- Wheat
By Form:
- Dry Specialty Malts
- Liquid Specialty Malts
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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