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The increasing demand for barley-based beverages, such as craft beer and malted beverages is driving the market growth of barley
ST. BROOKLYN, NY, USA, June 18, 2023/einpresswire.com / -- IMARC Group, a leading market research company, has recently releases report titled“Barley Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028′′, The study provides a detailed analysis of the industry, including the global barley market size , share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the barley market?
The global barley market size reached US$ 22.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.79% during 2023-2028.
What are the growth prospects and trends in the barley industry?
.The increasing demand for barley-based beverages, such as craft beer and malted beverages is driving the market growth of barley. Moreover, the rising awareness regarding the health benefits of barley, including its high fiber content and ability to lower cholesterol levels, is contributing to the market growth. In line with this, barley is used as a key ingredient in various food products, including breakfast cereals, bread, and soups, which is driving market growth. The rising consumer preference for natural and organic food products has led to an increased demand for barley, thereby supporting market growth.
.Barley's resilience as a crop, with the ability to grow in diverse climates and soil conditions, is driving the market growth across different regions. Government initiatives and subsidies promoting barley cultivation and supporting farmers are contributing to market growth. The market is also being driven by extensive research and development (R&D) activities focused on improving barley varieties for enhanced yield.
.The widespread adoption of barley in the brewing industry as a substitute for other grains due to its unique flavor and aroma is driving the market growth. The rising consumer demand for gluten-free products has led to the development of barley-based gluten-free alternatives, which is boosting market growth. The extensive usage of barley in the production of biofuels as a renewable energy source is contributing to market growth. Moreover, the rising popularity of barley-based snacks, including granola bars and snack mixes, is fueling the market growth. The rising consumer interest in plant-based diets and meat alternatives is facilitating the demand for barley-based products, which, in turn, is propelling market growth.
.Other factors, such as rising disposable income levels and consumer expenditure capacities, evolving consumer taste preferences and dietary patterns, and significant technological advancements in the production process, along with the expansion of the brewery industry are creating a positive outlook for the market further across the globe.
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What is Barley?
Barley is a cereal crop and belongs to the grass family. It is characterized by its long, slender spikes that contain multiple grains. It is known for its high fiber content, making it a valuable addition to a healthy diet. The grain also contains essential minerals like manganese, selenium, and phosphorus and has a lower glycemic index as compared to other grains. One of the prominent features of barley is its versatility as it is used to produce beer and other malted beverages. Barley finds widespread application in the food industry as it is utilized in various forms, such as flour and flakes, for products like bread, breakfast cereals. In addition to this, barley is extensively used in the animal feed industry as a cost-effective alternative to other grains.
Who are the key players operating in the industry?
The report covers the major market players including:
.Briess Malt & Ingredients Co
.Cargill Incorporated
.Crisp Malting Group
.EverGrain LLC (Anheuser-Busch InBev)
.Grain Millers Inc.
.GrainCorp Limited
.IREKS GmbH
.Malt Products Corporation
.Malteurop Groupe S.A. (VIVESCIA)
.Maltexco S.A, Muntons PLC
.The Soufflet Group
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
.Covered
.Two-Row Barley
.Six-Row Barley
.Hulless
Breakup by Grade:
.Food Grade
.Feed Grade
.Malt Grade
Breakup by Distribution Channel:
.Supermarkets and Hypermarkets
.Departmental Stores
.Specialty Stores
.Online Stores
Breakup by Industry Vertical:
.Food and Beverages
.Pharmaceuticals
.Seed Industry
.Personal Care
.Animal Feed
.Nutraceuticals
.Others
Market Breakup by Region:
.North America (United States, Canada)
.Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
.Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
.Latin America (Brazil, Mexico, Others)
.Middle East and Africa
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