Malt Ingredients Market – insightSLICE
Malt Ingredients Market – insightSLICE
Malt Ingredients Market Global Sales are Expected to Reach US$ 37.65 Billion by 2032
SANTA ROSA, CALIFORNIA, USA, April 21, 2023/EINPresswire.com/ — The Global Malt Ingredients Market Share, Trends, Analysis and Forecasts, 2019-2032 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global malt ingredients market was estimated to be US$ 22.68 Billion in 2022 and is expected to reach US$ 37.65 Billion by 2032 at a CAGR of 5.2%. Malt is a cereal grain that has been sprouted and dried. It is used as an ingredient in many food and beverage products, including beer, whisky, baking, and confectionery. Malt contains enzymes that break down starch into sugars, which are then used by yeast to produce alcohol and carbon dioxide. Malt can be made from various grains such as barley, wheat, and rye. It is often used to add flavor, color, and sweetness to products.
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Growth driving factors of Global Malt Ingredients Market
Following are some of the major factors driving the market –
Increasing demand for beer and other alcoholic beverages: The demand for beer and other alcoholic beverages is increasing globally, especially in emerging economies. For instance, in China, beer consumption has grown rapidly, with an annual growth rate of around 6%. This growth is driving the demand for malt ingredients. Craft beer and microbreweries are also becoming increasingly popular, which is driving the demand for high-quality malt ingredients with unique flavor profiles. For example, small breweries like Sierra Nevada Brewing Company in the US and Brewdog in the UK use high-quality malt ingredients in their craft beer products.
Growing consumption of bakery and confectionery products: The demand for bakery and confectionery products is growing globally, driven by changing consumer preferences and a rise in disposable incomes. Malt ingredients are used in these products to add flavor, color, and texture, and to enhance the nutritional value. For example, Nestle uses malted barley extract in its KitKat bars to add a distinctive flavor and texture.
Rising health consciousness and preference for natural ingredients: Consumers are becoming increasingly health-conscious and are looking for natural, plant-based ingredients in their food and beverages. Malt ingredients are perceived as a natural, wholesome, and nutrient-dense ingredient, which is driving their popularity. For example, Nature’s Path uses malted barley in its organic breakfast cereals to add flavor and nutrition.
Expansion of the food and beverage industry: The global food and beverage industry is growing rapidly, which is creating a larger market for malt-based nutritional supplements and animal feed. Malt ingredients are used in these products to add flavor, nutrients, and texture. For example, Cargill produces malt ingredients for animal feed, which are used to provide a rich source of energy and nutrition.
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Technological advancements in malt production processes: Technological advancements in malt production processes are enabling manufacturers to produce high-quality malt ingredients that meet the growing demand for gluten-free and organic products. This is helping to expand the market for malt ingredients. For example, Malteurop, a major malt ingredient producer, has developed a patented process for producing organic malt that meets the strictest European organic standards.
The leading market segments of Global Malt Ingredients Market
Based on the source, Barley holds the largest share in the global malt ingredients market. There are several key trends specific to this segment that are driving its popularity. Firstly, barley has a unique flavor profile and can be used to create a wide range of flavors, which makes it a versatile ingredient in the food and beverage industry. It is also a key ingredient in the production of beer and whisky, which are popular alcoholic beverages globally. Secondly, the health benefits of barley are well-known, which has helped to increase its popularity as a key ingredient in food and beverage products. Barley is a good source of dietary fiber, protein, and several important nutrients such as vitamins B and E. It is also a natural source of antioxidants, which can help to reduce the risk of chronic diseases.
Thirdly, there is a growing trend towards using barley as a gluten-free alternative to wheat, which is driving its popularity in the food and beverage industry. Many people are intolerant to gluten, which is a protein found in wheat, barley, and rye. Barley-based gluten-free products are becoming increasingly popular, and there is a growing demand for gluten-free malt ingredients made from barley. Finally, technological advancements in barley processing and production are making it easier and more cost-effective to produce high-quality malt ingredients from barley. For example, maltsters are using new techniques such as high-pressure processing and micro-malting to produce malt ingredients with unique flavor profiles and enhanced nutritional benefits.
Based on the application, the beverage application segment is the largest, and there are several key trends that are driving its growth. One of the primary drivers is the increased demand for alcoholic beverages like beer and whisky, which have unique flavors, aromas, and textures created with malt ingredients. In addition, the trend towards craft beer and microbreweries has also contributed to the growing demand for high-quality malt ingredients that produce unique flavor profiles. Malt ingredients are also used in creating new and innovative beer flavors, further increasing the demand for these products.
Another significant trend in the beverage industry is the growing demand for healthy and natural ingredients. Malt ingredients are seen as a natural and wholesome alternative to artificial ingredients, making them an attractive ingredient for the production of beverages. This has led to the increased popularity of malt ingredients as a healthier alternative to artificial ingredients. There is also a growing demand for non-alcoholic malt beverages like malted milkshakes and malted hot drinks, which are perceived as healthy alternatives to sugary drinks. As a result, the beverage application segment of the malt ingredients market is expected to continue growing in the coming years, driven by these trends.
Geographically, Europe is the largest regional segment. The region is home to many established breweries and has a long history of brewing beer, which has led to a high demand for malt ingredients. The growth of the food and beverage industry and the trend towards healthy and natural ingredients have also contributed to the increased demand for malt ingredients in Europe.
While, The fastest-growing regional segment in the global malt ingredients market is Asia-Pacific. This growth is primarily driven by the increasing demand for malt ingredients in the food and beverage industry, particularly in China and India. The rising demand for beer and other alcoholic beverages in the region has also contributed to the growth of the malt ingredients market. Additionally, the increasing popularity of malt-based health drinks and the growing awareness of the health benefits of malted products have further fueled the demand for malt ingredients in Asia-Pacific.
The key players of the Global Malt Ingredients Market are:
Axéréal, Briess Malt & Ingredients, BSG CraftBrewing, Cargill, Inc., Crisp Malting, GrainCorp Ltd., Muntons PLC, Polttimo, Simpsons Malt, The Soufflet Group, VIVESCIA Industries (Malteurop), and Others.
Market Segmentation
By Source:
• Barley
• Wheat
• Rye
• Other sources
By Application:
• Food
• Beverage
• Pharmaceutical
• Other Applications
By Region
• North America
* United States
* Canada
* Rest of North America
• Europe
* Germany
* United Kingdom
* Italy
* France
* Spain
* Rest of Europe
• Asia Pacific
* Japan
* India
* China
* Australia
* South Korea
* Rest of Asia Pacific
• Middle East & Africa
* UAE
* Saudi Arabia
* South Africa
* Rest of the Middle East & Africa
• South America
* Brazil
* Rest of South America
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