The Malt Ingredients Global Market Report 2024 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 Malt Ingredients Global Market Report 2024, The malt ingredients market size has grown strongly in recent years. It will grow from $21.84 billion in 2023 to $23.06 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to traditional brewing practices, industrialization of brewing, cultural and regional influences, establishment of malt houses, historical role in distilling.
The malt ingredients market size is expected to see strong growth in the next few years. It will grow to $28.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to shifts in consumer taste preferences, globalization and international market expansion, functional beverage innovations, emphasis on sustainability and organic ingredients, rise in gluten-free and specialty malt products. Major trends in the forecast period include evolving consumer preferences, rise in craft brewing and distilling, health and wellness concerns, innovation in brewing techniques, expansion of beverage choices.
The increasing demand for beer is driving the malt ingredients market. Beer is a carbonated, fermented alcoholic drink with less than 5% alcohol concentration that is frequently brewed from malted cereal grains (mainly barley) and flavored with hops. Increased disposable income and consumer preferences are leading to an increase in beer consumption across the globe. Malt ingredients give color, flavor, and foam to the beer, provide the sugars for fermentation, and contribute to the health aspect of the beer. For instance, in 2021, according to the national beer sales and production data of the Brewers Association, a national organization that represents the interests of small and independent craft brewers in America, the overall sales of beer in the United States increased by 1% in 2021, while sales at craft breweries increased by 8%, bringing their volume share of the market to 13.1%. Therefore, increasing demand for beer is expected to boost demand for malt ingredients during the forecast period.
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The malt ingredients market covered in this report is segmented –
1) By Type: Dry Malt, Liquid Malt, Malt Flour, Other Types
2) By Raw Material: Barley, Wheat, Rye, Maize, Rice, Oat
3) By Application: Brewing, Distilling, Cereals, Bakery, Beverages (Non-Alcoholic), Confectionery
Major companies operating in the malt ingredients market are focusing on innovative products such as grain, liquid, and powdered malt extracts to be employed in plant-based cuisine and to better meet the needs of their existing consumers. Grain, liquid, and powdered malt extracts are different kinds of concentrated malt products made from malted barley or other grains. For instance, in September 2022, Muntons Plc, a UK-based manufacturing company of malts and malted materials for brewing and distillation, launched PlantMalt, a new range of grain, liquid, and powdered malt extracts that are used in plant-based cuisine to create a higher-quality meat alternative. PlantMalt was created to assist producers in achieving succulent flavors, texture, color, and mouthfeel in meat replacements. Muntons’ considerable expertise in malts was combined with that of alternative protein specialists to produce the PlantMalt range. Muntons’ grains are soaked, sprouted, kilned, and finally meticulously processed to produce a plant-based, clean-label, GMO-free product.
The malt ingredients market report table of contents includes:
1. Executive Summary
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