NEWARK, Del, Sept. 25, 2023 (GLOBE NEWSWIRE) -- In 2023, the malt ingredients market is anticipated to be worth US$ 25.7 billion. According to Future Market Insights (FMI), the Market as a whole is anticipated to increase at a CAGR of 5.4% from 2023 to 2033, reaching a worth of US$ 43.7 Billion
Malt extract ingredients are in higher demand due to the demand for malt ingredients, manufactured using malt extras and ingredients. The market is growing due to the many healthy ingredients in drinks and desserts prepared with a mold.
Although there are several prohibitions on the distribution of alcoholic beverages in many countries worldwide, these enterprises are changing to create non-alcoholic beverages containing malt extracts and components.
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Manufacturers Are Focusing On Providing a Variety of Flavors to Gain Market Share
These goods have a lengthy shelf life, and all these elements are anticipated to fuel market expansion. To gain malt ingredients market share, manufacturers are concentrating on offering products in a variety of tastes.
Additionally anticipated to fuel market expansion is the increased usage of malt extracts in manufacturing baked goods. Malt extract gives products a natural color and flavor; as a result, it is frequently employed in the creation of bread goods.
Given the rising customer demand for these goods, producers are concentrating on offering healthier foods. Dietary supplement demand is rising, which presents a growth opportunity for this industry. The main health advantages of malt-based supplements are that they assist athletes in performing better and are excellent for heart health.
A Reliable Indicator of Malt Ingredients is Barley
- Barley is used in making these items because it has a high protein content, which is the main reason. The most common source is barley because it works so well for the malting process. Drinking beverages made from barley has several positive health effects.
- Increased consumption of beer and other non-alcoholic beverages by the younger and older generations, combined with growing knowledge of the health advantages offered by these drinks, is fueling the malt ingredients market expansion.
- Most beers made with barley extracts have proven to be the best tasting. All of these factors suggest that the barley malt ingredients market is experiencing strong expansion.
Regional Outlook
- The key market share belonged to the United States. With the biggest market share and an impressive CAGR of 6.1%, the United States was the region's most significant Market for malt ingredients.
- The malt ingredients market is well-established in the United States, where products made using malt are frequently used. The Market for malt ingredients is being driven by rising demand for flavored beverages and beverages as well as rising consumption of foods and beverages made with malt.
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Key Takeaways from the Market Study
- The United States malt ingredient market is expected to expand at a CAGR of 6.1% from 2023 to 2033.
- The projection period is expected to see the U.K. market grow at a CAGR of 2.6%, reaching US$ 2.1 billion by 2033.
- To reach US$ 3.2 billion by 2033, the China malt ingredient market is expected to expand at a moderate CAGR of 4.6% over the projected period.
- To reach USUS$ 821.3 million by 2033, the Japanese market is expected to expand at a CAGR of 2.9% over the projected period.
- Throughout the projection period, the Indian market is expected to expand moderately at a CAGR of 3.8%, reaching US$ 1.2 billion in 2033.
- Malt extract may expand at a CAGR of 4.6% over the forecast period, according to product type in the malt ingredient market.
- In terms of raw materials, the barley category is expected to expand at a CAGR of 4.6% over the anticipated time frame.
Competitive Landscape
The malt ingredients market is extremely fragmented, with different regional and international businesses controlling significant market shares. The primary use of malt components is in the brewing industry. To access new applications, players are also diversifying their ingredient sources.
Some prominent players are Rahr Corporation, Vivescia (Malteurope), GrainCorp Limited, Axereal, and Group Soufflet. The manufacturer primarily focuses on improving its products' quality through mergers, acquisitions, and product innovations to get a competitive advantage over other market participants.
Key Developments
Joint Venture- Estonian Malt and Puratos Group:
In October 2019, Estonian Malt and Puratos Group, a Belgian corporation that supplies ingredients to bakers, patissiers, and chocolatiers, formed a joint venture. In addition to Estonian malt's expertise and experience with malt flours and sprouted grains, the joint venture may benefit from Puratos' vast network of distribution channels, purchasing power, and services. Estonian malt is a rye malt company.
Acquisition – Axereal:
Axereal, a French cooperative that cultivates and refines grains primarily for the brewing, baking, and cattle industries, purchased Cargill's malt division in October 2019 for an undisclosed sum. Through this transaction, Cargill's Malt business and its employees would get access to a global footprint as well as opportunities for future growth. A producer and supplier of agricultural goods, including ingredients, situated in the United States.
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Malt Ingredient Market Segmentation
By Raw Material
- Barley
- Wheat
- Rye
- Maize
- Rice
- Oat
By Product Type
- Malt Extract
- Dry Malt Extract
- Liquid Malt Extract
- Malt Flour
- Others
By Grade
- Specialty Malt
- Caramelized Malt
- Roasted Malt
- Standard Malt
By End-Use
- Food & Beverages Industry
- Food
- Beverages
- Pharmaceutical Industry
- Medicines
- Nutraceuticals
- Personal Care
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- The Middle East and Africa
About the Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table. Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions, post-merger integration, and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications and quoted in journals, including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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