The demand for malt ingredients that use malt extras and ingredients in their manufacturing has led to an increase in the demand for malt extracts and ingredients. The industry is expanding due to the presence of numerous beneficial substances in drinks and desserts made with mold.
The market for malt ingredients is projected to be valued US$ 25.7 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2033, reaching a valuation of US$ 43.7 billion, according to Future Market Insights (FMI).
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Although there are several prohibitions on the distribution of alcoholic beverages in many countries throughout the world, these enterprises are changing to creating non-alcoholic beverages that contain malt extracts and components.
Manufacturers Are Focusing On Providing a Variety of Flavors to Gain Market Share
The market is expected to grow as a result of the long shelf lives of these products. Manufacturers are focusing on providing products in a variety of flavours in an effort to increase market share for malt components.
The rising use of malt extracts in the production of baked goods is also projected to fuel market expansion. Malt extract is widely used in the production of baked goods since it has the ability to give items a natural colour and flavour.
Given the rising customer demand for these goods, producers are concentrating on offering healthier foods. Dietary supplement demand is rising, which presents a growth opportunity for this industry. The main health advantages of malt-based supplements are that they assist athletes in performing better and are excellent for heart health.
A Reliable Indicator of Malt Ingredients is Barley
Barley is used in making these items because it has a high protein content, which also happens to be the main reason. The most common source is really barley because it works so well for the malting process. Drinking beverages made from barley has several positive health effects.
Increased consumption of beer and other non-alcoholic beverages by the younger and older generations, combined with growing knowledge of the health advantages offered by these drinks, is fueling the malt ingredients market expansion. The majority of beers made with barley extracts have proven to be the best tasting. All of these factors suggest that the barley malt ingredients market is experiencing strong expansion.
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Regional Outlook
The key market share belonged to the United States. With the biggest market share and an impressive CAGR of 6.1%, the United States was the region’s most significant Market for malt ingredients.
The malt ingredients market is well-established in the United States, where products made using malt are frequently used. The Market for malt ingredients is being driven by rising demand for flavored beverages and beverages as well as rising consumption of foods and beverages made with malt.
Key Takeaways
- To reach US$ 9.5 billion in 2033, the U.S. malt ingredient market is expected to expand at a moderate CAGR of 6.1% over the projected period.
- The projection period is expected to see the U.K. market grow at a CAGR of 2.6%, reaching US$ 2.1 billion by 2033.
- To reach US$ 3.2 billion by 2033, the China malt ingredient market is expected to expand at a moderate CAGR of 4.6% over the projected period.
- To reach USUS$ 821.3 million by 2033, the Japanese market is expected to expand at a CAGR of 2.9% over the projected period.
- Throughout the projection period, the Indian market is expected to expand moderately at a CAGR of 3.8%, reaching US$ 1.2 billion in 2033.
- Malt extract may expand at a CAGR of 4.6% over the forecast period, according to product type in the malt ingredient market.
- In terms of raw materials, the barley category is expected to expand at a CAGR of 4.6% over the anticipated time frame.
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Competitive Landscape
The malt ingredients market is extremely fragmented, with different regional and international businesses controlling significant market shares. The primary use of malt components is in the brewing industry. In order to access new applications, players are also diversifying their ingredient sources.
Rahr Corporation, Vivescia (Malteurope), GrainCorp Limited, Axereal, and Group Soufflet are some of the prominent players. The manufacturer is primarily focused on improving the quality of its products through mergers, acquisitions, and product innovations to get a competitive advantage over other market participants.
Key Segments:
By Raw Material :
- Barley
- Wheat
- Rye
- Maize
- Rice
- Oat
By Product Type :
- Malt Extract
- Dry Malt Extract
- Liquid Malt Extract
- Malt Flour
- Others
By Grade :
- Specialty Malt
- Caramelized Malt
- Roasted Malt
- Standard Malt
By End-use :
- Food & Beverages Industry
- Food
- Beverages
- Pharmaceutical Industry
- Medicines
- Nutraceuticals
- Personal Care
By Region :
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- The Middle East and Africa (MEA)
Recent Development
Joint Venture- Estonian Malt and Puratos Group
In October 2019, Estonian Malt and Puratos Group, a Belgian corporation that supplies ingredients to bakers, patissiers, and chocolatiers, formed a joint venture. In addition to Estonian malt’s expertise and experience with malt flours and sprouted grains, the joint venture may benefit from Puratos’ vast network of distribution channels, purchasing power, and services. Estonian malt is a rye malt company.
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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