Malt Ingredients Market is estimated to be US$ 23.50 billion by 2030 with a CAGR of 3.0% during the forecast period
Malt
Ingredients Market accounted for
US$ 18.4 billion in 2020 and is estimated to be US$ 23.50 billion by 2030 and
is anticipated to register a CAGR of 3.0%. Malt is produced from barley, which
are dried through a process known as malting, and are partially germinated
thereafter they are dried with warm air. Malt is food additives that are used to enhance
the color and flavor along with stabilizing the texture of various food and
beverage products. Malt ingredients are used to prepare both alcoholic and
non-alcoholic drinks for example whiskey, beer, malted shakes, and malt
vinegar. Malt ingredients are rich in essential micro and macronutrients such
as vitamins B complex, proteins, iron, zinc, calcium, and have low-fat content,
thus making them a preferred choice as the food and beverage additives. Barley
is a traditional source of malt ingredients because it contains high protein
and ease of malting.
The report "Malt Ingredients Market, By
Type (Dry Extracts, Liquid Extracts, and Malt Flour), By Source (Barley, Wheat,
and Rye), By Grade (Standard and Specialty), By Application (Alcoholic &
Non-Alcoholic Beverages and Food & Pharmaceutical), and By Region (North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa) -
Trends, Analysis and Forecast till 2030”
- BSG started a partnership with Leopold Bros. (US) to distribute a new line of small-batch, handmade malts in February 2020. Through this, it can begin into the emerging craft brewing and handmade beer markets.
- Axereal acquired the malt business of Cargill on behalf of its subsidiary, Boortmalt in November 2019.
- Malteurop created a new malthouse facility in Meoqui, North of Mexico, and Chihuahua in September 2019, which will be functional by 2021.
- Groupe Soufflet founded a malt house in Addis Ababa, Ethiopia in March 2019. It is aimed at producing a local industry, which can increase the production capacity to 110,000 tons.
- In December 2019, BSG started NZH-107, which is a proprietary experimental release. It is produced jointly between New Zealand Hops (New Zealand), Ltd., and Brewers Supply Group.
Analyst View:
Rising consumption of beer and other alcoholic
drinks across the globe is the key factor driving the growth of the market.
With the increased trend of parties and related gatherings, there has been an
increase in the number of social drinkers, which acts as a growth-inducing
factor. In addition, these ingredients are in greater demand from the food and
beverage industry, wherein ingredients such as barley are majorly used in the
production of blended flour and bakery products, including cakes and biscuits.
Increasing adoption of malt ingredients in the food items, such as alcoholic
and non-alcoholic beverage industry. The increasing demand for sweeteners and
increasing growth strategy by malt ingredient manufactures are the important
factor that boosted the growth of the malt ingredients market in the forecast
period. In addition, the advancing countries illustrate the great potential for
malt ingredients, the increasing popularity of craft beer, and the increasing
demand for organic malt ingredients will provide potential opportunities for
the growth of the malt ingredient market in coming years.
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Key Market Insights from the report:
Global Malt Ingredients Market accounted for US$
18.4 billion in 2020 and is estimated to be US$ 23.50 billion by 2030 and is
anticipated to register a CAGR of 3.0%. The Global Malt Ingredients Market is
segmented by Type, Source, Grade, Application, and Region.
·
By Type,
Global Malt Ingredients Market is segmented into Dry Extracts, Liquid Extracts,
and Malt Flour.
·
By Source,
Global Malt Ingredients Market is segmented into Barley, Wheat, and Rye.
·
By Grade,
Global Malt Ingredients Market is segmented into Standard and Specialty.
·
By
Application, Global Malt Ingredients Market is segmented into
Alcoholic & Non-Alcoholic Beverages and Food & Pharmaceutical
·
By Region,
Global Malt Ingredients Market is segmented into North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:
The key players operating the global Malt
Ingredients market involves Axereal, Ireks GmbH, Cargill Incorporated,
Muntons PLC, Crisp Malting Group, Malteurop Group, and Simpsons Malt Ltd. among
others.
The market provides detailed information
regarding the industrial base, productivity, strengths, manufacturers, and
recent trends which will help companies enlarge the businesses and promote
financial growth. Furthermore, the report exhibits dynamic factors including
segments, sub-segments, regional marketplaces, competition, dominant key
players, and market forecasts. In addition, the market includes recent
collaborations, mergers, acquisitions, and partnerships along with regulatory
frameworks across different regions impacting the market trajectory. Recent
technological advances and innovations influencing the global market are
included in the report.
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