Malt Ingredients Market Growing at a CAGR of 5% Between 2019-2024January 22, 2020
According to the latest report by IMARC Group, titled “Malt Ingredients Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global malt ingredients market experienced stable growth during 2013-2018. Malt ingredients are cereal grains that have been germinated and dried through the process of malting. They contain enzymes that modify the grain’s starches and aid in the production of simple sugars and amino acids. They are utilized as additives to prepare alcoholic and non-alcoholic beverages. These ingredients are used for stabilizing the texture of various food and beverages while enhancing their color and flavor. They are a rich source of zinc, iron, calcium, proteins and vitamin B complex. As a result, they are widely used to prepare several food and beverages, such as malted vinegar, beer, whiskey, health drinks, malted shakes, malted milk, malt loaf and various forms of tea biscuits.
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Global Malt Ingredients Market Trends:
The global market is primarily driven by a significant increase in the number of social drinkers. The rising trend of mid-week/weekend corporate gatherings, especially in the urban regions, has resulted in an increased uptake of alcoholic beverages among the working professionals, thereby impacting the market growth favorably. In addition to this, growing awareness regarding the health benefits offered by malt, along with the thriving food and beverage industry, has provided a boost to the sales of malt-based non-alcoholic beverages. Moreover, busy lifestyles, hectic schedule and increasing consumer spending capacity have bolstered the demand for convenience foods, such as bagels, cookies and snack bars. Malt forms a crucial ingredient in the manufacturing of these food products, which in turn is contributing to the sales of these ingredients. Apart from this, the majority of beer drinkers are now making a shift from mass-produced products to craft beer which is anticipated to further create a positive outlook for the market. On account of the aforementioned factors, the market is projected to grow at a CAGR of around 5% during 2019-2024.
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Key Market Segmentation:
Market Breakup by Type:
1. Dry Malt
2. Liquid Malt
3. Malt Flour
On the basis of the type, the market has been divided into dry malt, liquid malt, malt flour and others.
Based on the source, the market has been categorized into barley, wheat, rye and others.
Market Breakup by Grade:
1. Standard Malt
2. Specialty Malt
On the basis of the grade, the market has been bifurcated into standard and specialty malts.
Market Breakup by Application:
1. Alcoholic Beverages
2. Non-Alcoholic Beverages
3. Food Products
Based on the application, the market has been classified into alcoholic beverages, non-alcoholic beverages, food products, pharmaceuticals and others.
Market Breakup by Region:
2. Asia Pacific
3. North America
4. Middle East and Africa
5. Latin America
On the geographical front, the market has been segregated into Europe, Asia Pacific, North America, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been analyzed in the report, with the detailed profiles of the key players operating in the market. Some of these major players include GrainCorp Limited, Axéréal Group, Malteurop Groupe, Soufflet Group, Crisp Malting Group Limited, IREKS GmbH, Muntons plc, and Simpsons Malt Ltd.
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