The demand for malt ingredients There is a higher demand for malt extracts and components since they are utilized in their manufacturing. The wealth of healthy nutrients in beverages and pastries made with mold is driving business growth.
In 2023, it is anticipated that the market for malt ingredients would be worth US$25.7 billion. Future Market Insights (FMI) projects that the market will expand at a compound annual growth rate (CAGR) of 5.4% between 2023 and 2033, arriving at a valuation of US$ 43.7 billion.
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Despite the fact that the distribution of alcoholic beverages is prohibited in many nations worldwide, these businesses are shifting to produce non-alcoholic beverages that incorporate malt extracts and other ingredients.
Manufacturers Are Focusing On Providing a Variety of Flavors to Gain Market Share
These items’ extended shelf life are predicted to fuel market expansion. To get more market share for malt components, producers are concentrating on offering a range of flavors for their products.
The market is expected to grow as a result of the growing usage of malt extracts in baked goods production. Because malt extract can impart a natural flavor and color to baked goods, it is frequently utilized in their manufacturing.
Producers are focusing on providing healthier foods because of the growing consumer demand for these products. The need for dietary supplements is increasing, which offers this market room to flourish. The two biggest health benefits of malt-based supplements are that they improve heart health and help athletes perform at a higher level.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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