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The malt ingredients market from barley malt segment dominated around USD 16.06 billion in 2022, due to its extensive use in brewing, distillation, and food applications. Following closely, wheat malt holds a significant market share, driven by its popularity in brewing and baking. Corn malt, while less prominent, still maintains a substantial presence, especially in beverage production. Rye malt, though niche in comparison, is crucial for specific whiskey and beer styles.
The category of other specialty malts encompasses a diverse range of grains and represents a smaller market share, catering to specialized and craft applications. This segmentation reflects the hierarchy in market size among malt ingredients, with barley malt and wheat malt leading the way in terms of both production and consumption.
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The brewing form segment accounted for 60% of the malt ingredients market share in 2022. Brewing, including craft brewing, accounts for a substantial portion, as malt ingredients are fundamental in beer production. Distilling, particularly for whiskey and spirits, also holds a significant market share due to the use of malted grains in the distillation process. Baking follows closely, as malt ingredients are utilized to enhance flavour and texture in a wide range of baked goods. Confectionery applications, while substantial, are relatively smaller compared to brewing, distilling, and baking.
The food and beverage category encompasses various applications, contributing significantly to the market size, while pharmaceutical, cosmetics, and personal care segments represent smaller but growing niches. Additionally, there are various "other" applications, including pet food and animal nutrition, each making distinct contributions to the overall malt ingredients market size. This segmentation reflects the varying degrees of market prominence across different applications, with brewing and distilling leading in terms of both volume and revenue.
The dry malt ingredients market segment is anticipated to grow at 5% CAGR through 2032. Dry malt ingredients, including malted barley grains, malted barley flour, and powdered malt extract, are widely utilized in brewing, distilling, and food processing, offering convenience and ease of storage and transportation.
Standard malt ingredients market will gain remarkable momentum during the forecast timeline. Standard malt, known for its consistency and versatility, is widely used across various industries, including brewing, distillation, and food manufacturing, making up most of the market due to its cost-effectiveness and broad applications.
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U.S. malt ingredients market size held over USD 2.21 billion in 2022, owing to its robust brewing industry, including the prominent craft beer movement. Craft breweries' demand for high-quality malt ingredients has driven market growth. Additionally, the U.S. boasts a diverse food and beverage sector, which further elevates the market's size and importance.