New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Malts Global Market Report 2023" - https://www.reportlinker.com/p06463960/?utm_source=GNW
, Viking Malt Group, Agraria San Francisco Inc., Pure Malt Products Ltd., Imperial Malts Ltd., and Diastatische Producten B.
The global malts market is expected to grow from $9.21 billion in 2022 to $10.14 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The malts market is expected to reach $14.26 billion in 2027 at a CAGR of 8.9%.
The malts market consists of sales of base malt, lager malt, pale ale malt, pilsner malt, and more.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Malt refers to cereal grain that is kiln-dried after having been germinated by soaking in water and then dried in a hot oven.It is used in the brewing and distilling processes.
The process of turning cereal grains, such as barley, into malt for use in food, beverages, or distillation is known as malting.
Asia-Pacific was the largest region in the malts market in 2022. The regions covered in malts report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of malts are liquid extract, dry extract, and malt flour, which are primarily sourced from barley, wheat, and rye.A liquid extract is a separation technique in which a solute is transferred from one solvent to another, the two solvents being immiscible or just slightly miscible.
The distribution channels inlcudes are online and offline and these are used in several applications including beer industry, whisky distilleries, food and beverages, and pharmaceutical.
Increasing consumption of beer is expected to propel the malts market going forward.Beer is a type of carbonated alcoholic beverage that is brewed and fermented from cereals, typically malted barley, and given a bitter flavour by the addition of hops and other ingredients.
Malt is a grain that has been specially prepared for brewing and is an indispensable ingredient for craft beer, so an increase in beer consumption will propel the malt market growth. For instance, in December 2022, according to the Global Beer Consumption Report for 2021 shared by Kirin Holdings Company Limited, a Japan-based integrated beverages company, about 185.60 million kiloliters of beer were consumed worldwide in 2021, a rise of 4.0% from the previous year. The total amount of beer consumed worldwide in 2021 increased by approximately 7.13 million kiloliters (equivalent to approximately 11.3 billion 633-ml bottles) from the previous year, reaching approximately 185.6 million kiloliters (up 4.0% from the previous year, or approximately 293.2 billion 633-ml bottle equivalent).. Therefore, the increasing consumption of beer is driving the growth of the malts market.
Product innovations are a key trend gaining popularity in the malts market.Major companies operating in the malts market are focused on developing new innovative solutions to strengthen their position in the market.
For instance, in May 2021, Muntons Malt Plc, a UK-based provider of brewing and distilling malts and malted ingredients, launched its premium alcohol-free malt extract.It is uniquely designed with the latest innovation by combining the heating and modifying of the wort sugars, which replicate the typical characteristics of the beer.
It is an ideal, versatile base that allows brewers to build on and create an alcohol-free version of trademark brewing styles. It is made from 100% sustainable malt and is sourced from farms.
In September 2021, InVivo Group, a Europe-based producer and seller of seeds and agricultural supplies, acquired a 100% stake in Soufflet Group for an undisclosed amount.Through this acquisition, InVivo Group will be able to improve its position as a driver of the agricultural and food transformation by expanding the deployment of its solutions to solve the economic, social, and environmental issues confronting French agriculture.
Soufflet Group is a French-based family-owned business operating in the finest malts.
The countries covered in the malts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The malts market research report is one of a series of new reports that provides malts market statistics, including malts industry global market size, regional shares, competitors with a malts market share, detailed malts market segments, market trends and opportunities, and any further data you may need to thrive in the malts industry. This malts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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