The Malts by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Malts, The malts market size has grown strongly in recent years. It will grow from $9.25 billion in 2023 to $10.09 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to craft brewing renaissance, beer industry growth, consumer preference for specialty and craft beers, changing dietary habits, globalization of beer market
The malts market size is expected to see strong growth in the next few years. It will grow to $13.77 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rise in home brewing, health and wellness trends, sustainable and organic brewing practices, premiumization and specialty malt varieties, emergence of non-alcoholic and low-alcohol beverages. Major trends in the forecast period include demand for organic and non-gmo malts, innovation in malting techniques, focus on single origin and terroir-influenced malts, collaborations in malt development, diversification beyond brewing.
Increasing consumption of beer is expected to propel the malts market going forward. Beer is a type of carbonated alcoholic beverage that is brewed and fermented from cereals, typically malted barley, and given a bitter flavour by the addition of hops and other ingredients. Malt is a grain that has been specially prepared for brewing and is an indispensable ingredient for craft beer, so an increase in beer consumption will propel the malt market growth. For instance, in December 2022, according to the Global Beer Consumption Report for 2021 shared by Kirin Holdings Company Limited, a Japan-based integrated beverages company, about 185.60 million kiloliters of beer were consumed worldwide in 2021, a rise of 4.0% from the previous year. The total amount of beer consumed worldwide in 2021 increased by approximately 7.13 million kiloliters (equivalent to approximately 11.3 billion 633-ml bottles) from the previous year, reaching approximately 185.6 million kiloliters (up 4.0% from the previous year, or approximately 293.2 billion 633-ml bottle equivalent). Therefore, the increasing consumption of beer is driving the growth of the malts market.
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The malts market covered in this report is segmented –
1) By Type: Liquid Extract, Dry Extract, Malt Flour
2) By Source: Barley, Wheat, Rye
3) By Distribution Channel: Online, Offline
4) By Application: Beer Industry, Whisky Distilleries, Food and Beverages, Pharmaceutical
Product innovations are a key trend gaining popularity in the malts market. Major companies operating in the malts market are focused on developing new innovative solutions to strengthen their position in the market. For instance, in May 2021, Muntons Malt Plc, a UK-based provider of brewing and distilling malts and malted ingredients, launched its premium alcohol-free malt extract. It is uniquely designed with the latest innovation by combining the heating and modifying of the wort sugars, which replicate the typical characteristics of the beer. It is an ideal, versatile base that allows brewers to build on and create an alcohol-free version of trademark brewing styles. It is made from 100% sustainable malt and is sourced from farms.
The malts market report table of contents includes:
1. Executive Summary
2. Malts Market Characteristics
3. Malts Market Trends And Strategies
4. Malts Market – Macro Economic Scenario
5. Global Malts Market Size and Growth
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26. South America Malts Market
27. Brazil Malts Market
28. Middle East Malts Market
29. Africa Malts Market
30. Malts Market Competitive Landscape And Company Profiles
Top Major Players:
- Crisp Malting Group Ltd
- Muntons Malt PLC
- Malteurop Group
- Cargill Inc
- GrainCorp Malt
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