The malted milk powder market is projected to enroll a CAGR of 5% during the figure time frame, up from US$ 6.5 Bn in 2021 to arrive at a valuation of US$ 11 Bn by 2032.
In recent years, consumers demand for clean label products and inclination towards health and wellness trend have caused many food manufacturers to reconsider their use of synthetic additives or artificial ingredients. A shift in focus towards healthier living and natural wellbeing has been pushing the demand for natural food ingredients. Amid growing popularity of organic milk and organic milk powder, a strong emphasis on plant-based and origin foods that utilize plant protein has been leading to the demand for malted milk powder.
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In addition, consumers’ emphasis is shifting from possession to experience, thereby compelling manufacturers to offers personalized as well as nutrient-enriched products that directly align with newer trends. The result is projected to fuel the demand for malt milk powder in near future.
Numerous benefits of malt ingredients including malted wheat flour, malted rye flour, and natural malt sweeteners along with malted milk and malted milk powder have increased their popularity, especially in bakery industry. This is according to Future Market Insights’ Malted Milk Powder Market Report that explores preferential shift of food and beverages among consumers and analyzes its impact on future growth of the market.
Malted Milk Powder Market Players – Notable Developments
Some of the key players operating in the malted milk powder market include Nestlé S.A., Food & Biotech Engineers India Private Limited., Briess Malt & Ingredients, King Arthur Flour Company, Inc., Family Cereal Sdn. Bhd, Instacart Inc., Muntons plc, Imperial Malts Ltd., Continental Milkose, and SSP PVT Limited.
- In August 2019, Nestlé launched the world’s no.1 cocoa-malt beverage – MILO in India. Manufactured at a state-of-the art facility in Singapore, the product is specifically tailored for Indian consumers. In April, Nestlé Australia also announced its plans to launch the latest version of MILO containing malt barley, milk powder, and cocoa, but replacing cane sugar with stevia.
- In May 2019, Muntons Plc announced an investment of £4.5million investment in its local plant in Stowmarket Suffolk, England to increase the company’s malt extract capacity. An addition of a more rapid and more energy efficient evaporator in its new 27-meter high building will help boost the production by 15%, according to the company.
- In May 2019, Briess Malt & Ingredients launched Blonde RoastOat™ Malt at the Craft Brewers Conference in Denver, Colorado. The new unique specialty product is malted with roasted oats that impart subtle flavors and good mouthfeel.
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Key Factors Shaping Malted Milk Powder Market
Robust Development of the Bakery Industry
With growing popularity of functional baking ingredients, increasing consumption of cake and pastries, and surging in-store bakery sections, the bakery industry shows no sign of slowing down. Increasing application scope of malted milk and milk powder in bakery industry in terms of proper baking of dough and adding distinct flavors remains a key growth influencer of the market.
The demand for malted milk powder is gaining a boost from its good mouthfeel and sweetness, which can be blended with other flavoring products such as cocoa and natural flavor to gain desired taste and enhanced properties. Today, as consumers are progressively turning to bakery products that suit their specific dietary needs, innovation strategies of key players in the malted milk powder market will need to be ahead of the curve to set their products apart from the competition.
Consumers Turning to Health-supporting Products
In recent years, growing health-conscious attitude among consumers has inundated the F&B market with nutrient-enriched products, dietary supplements, and sports nutrition. Additionally, exponential increase in demand for convenience yet healthy food products is bringing meal replacement shakes and ready to use supplementary food in the market. Manufacturers of malted milk powder are thus focusing on exploring untapped application potential of their products. Furthermore, many consumers are choosing to indulge without compromising quality of ingredients, which will work to advantage of market players.
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Increasing Demand from Developing Countries
Changing lifestyles, increased disposable income, and shift from eating at home to dining out, in the view of expanding workforce and rising number of single households in developing countries, are bringing significant changes in the F&B industry. While malt milk powder originates from countries in Western Europe and North America, manufacturers are viewing developing countries such as China and India from target market perspective. A shift toward all-day snacking to replace traditional meals and spike in number of quick-serve and casual dining restaurants in these countries have led to realignment of manufacturers’ strategies.
Rapidly Growing Sales through Modern Trade and E-commerce Channels
The trend of convenience is not only limited to way of consuming food but also extends to easy access of a wide range of products. While traditional stores continue to influence the growth strategies, key players in the malted milk powder market are targeted towards omni-channel strategies to capitalize on new retail formats. Manufacturers are further focusing on different sources of malted milk powder, given consideration to the rise of lactose and gluten intolerance among a growing number of consumers. While new entrants in the market are set to offer products at affordable prices, established players are likely to focus on expansion of product portfolio and M&A activities for stronger global footprint.
The regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from 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. The report also maps the qualitative impact of various market factors on malted milk powder market segments and geographies.
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Malted Milk Powder Market Segmentation
Report Highlights:
- A detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments for yorker spouts market
- Competitive landscape for yorker spouts market
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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