New York, March 14, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Malted Milk Food Global Market Report 2023" - https://www.reportlinker.com/p06313424/?utm_source=GNW
, Insta Foods and King Arthur Flour Company Inc.
The global malted milk food market grew from $6.01 billion in 2022 to $6.45 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. 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 malted milk food market is expected to grow to $8.69 billion in 2027 at a CAGR of 7.7%.
The malted milk market consists of sales of barley, wheat, oats, and rice.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.
The malted milk food refer to products made by blending milk with the mash liquid which is produced by a mash of the barley malt and wheat flour.Malted milk food contains a high-quality nutritional value offering convenience, digestibility, and palatability.
It is a beneficial supplement to enhance memory, immunity, and concentration.
Asia-Pacific was the largest region in the malted milk foods market in 2022. The regions covered in the malted milk foods market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of sources for malted milk foods are wheat, barley and others.The wheat malted milk foods made from wheat, with or without the addition of flavoring agents and spices which are used to convert the starch to simple sugars during the mashing process and provides higher levels of proteins, and fat.
The product types of malted milk foods are milk and powder and are packaged in tins, jars, carton packs and others. Malted milk foods are distributed by channels such as hypermarket/supermarket, convenience stores, online retailers and others.
The rising demand for flavored milk is expected to significantly contributing to the growth of the malted milk food market in the forecast period.Flavored milk refers to a sweetened dairy drink made with milk, sugar, flavorings and food colorings.
Flavored milk is consumed more as it offers more nutrition and less sugar than juices and sports drinks thus increasing intake of the dairy foods.The demand for flavored milk increases the demand for malted milk foods that are a source of rich nutrition and flavored with malt liquids.
For example, according to an article published in September 2020 by FnB News, the global flavored milk market is expected to grow robustly during 2021-2029 due to its rising popularity amongst children, busy lifestyle driving up the unscheduled consumption of milk and few alternatives to the popular flavors such as chocolate-flavored milk.It also shows a prediction for flavored milk products to account for 71% of dairy drink introductions in India by 2028.
In addition, according to the National Dairy Development Board (NDDB) of India, the flavored milk market in India was expected to grow by 25.5% by 2020. Therefore, the rising demand for flavored milk will contribute to the growth of the malted milk food market.
Manufacturers focusing on the development of natural ingredients in products is a key trend gaining popularity in the malted milk food market.Key players operating in the malted milk food market are focusing on incorporating natural ingredients in their products to offer better nutritional values and strengthen their position in the market.
Natural ingredients are raw materials that are based on plant, animal, mineral, or microbial ingredients.These offer several health benefits while filling products with nutritional essentials.
For instance, in June 2020, Orgain, a US-based company operating in health supplements, introduced the Sport Line of organic, plant-based powders which contains premium ingredients including organic beets, apple cider vinegar, tart cherry powder, fermented turmeric, and ginger with anti-inflammatory, high antioxidants, vitamin C and adaptogens to assist highly active lifestyles and sports performance.
In April 2020, Hindustan Unilever Limited (HUL), an Indian leading fast-moving consumer goods company completed the acquisition of the Indian consumer business including malted milk drink Horlicks from GlaxoSmithKline PLC. for an amount of $3.8 billion. As a result, GlaxoSmithKline Consumer Healthcare Limited (GSKCH) was merged with HUL. This deal enables HUL to expand its presence in the fastest-growing Indian market. The deal enhances HUL’s position in emerging markets, which account for around two-thirds of the company’s revenue. GlaxoSmithKline Consumer Healthcare Limited is an Indian firm providing prescription medicines, vaccines, and consumer healthcare products. GlaxoSmithKline PLC. is a UK-based pharmaceutical industry company.
The countries covered in the malted milk foods market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and 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 malted milk foods market research report is one of a series of new reports that provides malted milk foods market statistics, including malted milk foods industry global market size, regional shares, competitors with a malted milk foods market share, detailed malted milk foods market segments, market trends and opportunities, and any further data you may need to thrive in the malted milk foods industry. This malted milk foods 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.
Read the full report: https://www.reportlinker.com/p06313424/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
