Albany, New York, Nov. 26, 2018 (GLOBE NEWSWIRE) -- The global malt ingredient market for bakery is predicted to exhibit high growth opportunities for vendors over the forthcoming years. A number of vendors in the global market for malt ingredients for bakery are expected to focus exhaustively on production of products of supreme quality and high nutritional value. The key step being taken by vendors is to actuate the use of gluten free ingredients, on account of a higher awareness of gluten tolerance levels among consumers. Leading vendors are also increasingly focusing more on inculcating manufacturing habits of focusing on product quality rather than quantity. Prominent vendors operating in the global malt ingredient market for bakery are Dohler GmbH, Malt Products Corporation, Malteries Soufflet SAS, GrainCorp Malt Group, and Briess Malt & Ingredients Co. The top three vendors, which held a substantial 30% share of the global market in 2015 are namely VIVESCIA Industries, Cargill Inc., and Group Soufflet.
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As reported by TMR, the global market for malt ingredient for bakery is prognosticated to appreciate at a 6.6% CAGR over the forecast period of 2016 to 2024. The market is expected to generate US$7.3 bn by 2024 in global revenues over the period of forecast.
Based on the type of source, the segment of barley is expected to dominate the market and show prominent growth rate. In terms of the product type, dry malt is predicted to lead the market. North America regional market is forecasted to remain at the fore over the coming years.
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Increasing Experimentation Trend in Taste and Texture to Boost Growth
To diminish the manufacturing expenses and lift the procedure adaptability of malt ingredients, producers are putting forth custom ingredient solutions for enhance the taste, texture and appearance of the malt ingredients. The framework helps in synergizing between various fixings and procedures. The ongoing development in these solutions incorporates protein protection for dairy products, and expanded time span of usability of dairy items without hampering the taste, surface and appearance of the product over time.
The multi-usefulness of malt has brought about expanding demand in the industry, as they upgrade the kind of gourmet food products and makes the entire technique cost efficient. Malt ingredients for bakery are to a great degree adaptable, multifunctional fixings that aid the producers to illuminate the capacity, color, and flavor difficulties while being highly preferred by health cognizant buyers.
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Stringent Regulations towards Cleaner Food Labels to Accelerate Demand
With strict regulations being implemented towards the use of quality, organic and sustainable food additives, a number of manufacturers are turning towards malt ingredients. This is providing a significant impetus to the growth of the global malt ingredient for bakery market, as the use of these products leads to a clean food label. Thus, there is an impending switch of consumers turning healthier food options that are expected to turn to bakery ingredients with malt.
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A factor that is likely to hinder the growth of the of the malt ingredients for bakery market is the low availability of malt ingredients. Moreover, there is higher consumption of malt in breweries and pharmaceutical industry-leading to shortage of the product in the bakery sector.
This review is based on TMR’s report titled, “Malt Ingredient Market for Bakery (Product Type - Dry Malt, Liquid Malt, Malt Flour; Grade – Standard and Specialty; Source – Barley and Wheat; Application - Bread, Biscuits, Brownie, Cookies, Cakes & Pastries, Doughnuts, and Pizza) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”Top of Form
- Global Malt Ingredient Market for Bakery, By Product Type
- Dry Malt
- Liquid Malt
- Malt Flour
- Others
- Global Malt Ingredient Market for Bakery, By Source
- Barley
- Wheat
- Others
- Global Malt Ingredient Market for Bakery, By Application
- Bread
- Biscuits
- Brownie
- Cookies
- Cakes & Pastries
- Doughnuts
- Pizza
- Others
- Global Malt Ingredient Market for Bakery, By Grade
- Standard
- Specialty
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