Malt Ingredients Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1334
Malt Ingredients Market size may witness strong gains over the forecast period owing to rise in demand from food & beverages, brewery and dairy industry.
It is segmented into dry and liquid malt ingredients. Dry malt extract (DME) are mostly used in powdered premixes and bakery products including whoppers, Horlicks, oval tine, milo, bagels and rich tea biscuits while Liquid malt extract (LME) are used in toppings and syrups used in on ice-cream, alcoholic and nonalcoholic drinks including beer, whisky and vinegar.
Strong application scope in packaged food may stimulate malt ingredients market size. Global packaged food market size generated over USD 2 trillion in 2015 and is poised to exceed USD 3 trillion in business by 2024. It includes biscuits, soups, baby foods, cereals, and noodles. Change in lifestyle along with increase in health awareness should drive industry growth. Rise in disposable income along with increase in hectic schedule mainly in the U.S., China, and India should favor product demand.
Global beverage market should observe significant gains. Beverage industry is a major consumer of malt ingredients owing to increase in alcoholic beverages demand such as whisky, beer, vodka and scotch and nonalcoholic beverages demand. Majority of the products are used in brewery application with U.S. being one of the major consumers. U.S. beer market generated over USD 60 million in 2015.
Positive application outlook in bakery industry should drive malt ingredients market size. Global bakery market may register close to 6% growth over the foreseeable timeframe. Rise in bread, cakes, biscuits, cereals, and baked goods products consumption mainly in the Europe and North America should favor industry growth. Introduction of new product such as gluten free malt mainly in the bakery sector may fuel product demand.
Global dairy market accounted for over USD 20 billion in 2015 owing to rise in milk and its products demand in Europe and North America. Malt ingredients are used in dairy products as a flavoring agent and market would substantially grow during the forecasted timeframe.
North America, driven by the Canada and the U.S malt ingredients market size may witness steady growth over the forecast timeframe. Favorable government regulations by FDA regarding product usage should drive regional growth. Increase in processed and convenient food demand accompanied by alcoholic & nonalcoholic beverages demand should stimulate industry growth. Canada is one of the major malt exporter and producing over 50 kilo tons annually.
Europe, led by UK, France, Russia, and Germany malt ingredients market size is poised to grow owing to increase in bakery and brewery industries. European region is the major product producer and consumer owing to increasing consumer trend towards craft beer consumption.
Asia Pacific, led by Japan, South Korea, India, and China malt ingredients market size may register significant gains owing to rise in packaged food & beverages and bakery products consumption along with increase in health awareness, thereby influencing regional growth.
Barley is mainly used in the beverage industry owing to its unique enzyme property. Rye and oats may grow significantly owing to their nutritional flavor and rise in application scope in flavored food products, thereby stimulating malt ingredients market size.
Barley grain, rye and oats are commonly used malt ingredients and are used in baked goods, confections, pre-mixes, baby foods, frozen foods and toppings. Fluctuating raw material costs owing to cereal grains seasonal price variations may cause supply deficit and affect malt ingredients market price trend.
Global malt Ingredients market share is moderately fragmented. Key players operating in the industry includes Cargill, Briess, GrainCorp Limited, Soufflet Group, Muntons PLC, and Heineken. Other prominent companies include BSG CraftBrewing, Rahr Corporation, and Diamalteria.
Most of the manufacturing companies are focusing on different fruit flavored malt beverage and energy drinks mainly targeting women due to busy lifestyle may drive industry growth. For example, Dohler introduced a new product Fassbrause which is a nonalcoholic beverage.
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