(MENAFN- IMARC Group)
IMARC Group's latest report, titled“ Malt Ingredients market : Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ”, the global malt ingredients market size reached US$ 25.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 38.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
Factors Affecting the Growth of the Malt Ingredients Industry:
Rising Popularity of Craft Beer:
The global malt ingredients market is significantly driven by the rising popularity of craft beer worldwide. Craft breweries extensively use malt as a primary ingredient to provide a wide range of flavors and textures to their products. This growing consumer interest in unique and artisanal beers has led to an increase in the number of craft breweries, thereby enhancing the demand for high-quality malt ingredients. Market analysis indicates that the craft beer trend is expanding the market size and also influencing market share distribution among malt ingredient suppliers, with a notable shift towards specialty malts. This trend is contributing to market growth and shaping future market outlooks.
Increasing Health and Wellness Trends:
Health and wellness trends are increasingly influencing consumer preferences, with a growing demand for natural and nutritious food and beverage options. Malt ingredients, known for their natural health benefits, including essential vitamins, minerals, and antioxidants, are benefiting from this shift. They are being incorporated into a variety of products, from baked goods and confectioneries to non-alcoholic beverages, expanding their market share. This diversification in application sectors underlines the adaptability of malt ingredients to meet consumer health trends, driving market growth. Market analysis forecasts that as consumers become more health-conscious, the demand for malt-based products is rising, positively impacting the market size and trends.
Innovation in Malt Production and Flavor Diversity:
Innovation in malt production techniques and the development of a diverse range of flavors and types are key factors fueling the global malt ingredients market growth. Advances in malting technology have improved the efficiency and sustainability of malt production, making it more appealing to both producers and consumers. Additionally, the introduction of novel malt flavors is expanding the ingredient's application in various culinary and brewing processes, catering to a broader consumer base. This innovation not only drives market growth but also enhances market competitiveness, with companies striving to offer unique malt solutions. Market outlook reports suggest that continued innovation in malt production and flavor diversity is crucial for sustaining market expansion and meeting evolving consumer preferences.
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Competitive Landscape with Key
Players:
GrainCorp Limited Axéréal Group Malteurop Groupe Soufflet Group Crisp Malting Group Limited IREKS GmbH Muntons plc Simpsons Malt Ltd
Malt Ingredients Market Trends:
The global malt ingredients market is witnessing several key trends that are driving its growth. One prominent trend is the increasing consumer preference for clean-label and organic products, which has led to a rise in demand for organic malt ingredients used in food and beverages.
Additionally, there is a growing trend towards the use of malt in non-traditional applications such as dairy products, health foods, and nutritional supplements, driven by malt's nutritional benefits and natural sweetening properties. Furthermore, the innovation in flavored and specialty malts is catering to the evolving tastes of consumers, particularly in the craft brewing and artisanal baking sectors, thereby expanding the market's reach and diversity.
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Malt Ingredients Market Report Segmentation:
Breakup by Type:
Dry Malt Liquid Malt Malt Flour Others
Dry malt represents the largest segment by type due to its widespread use in the brewing industry and convenience in storage and transportation, making it a preferred choice for producers of beer and other malted beverages.
Breakup by Source:
Barley is the largest segment by source, as it is the traditional and most commonly used grain for malt production, offering a desirable balance of enzymes, nutrients, and flavor characteristics essential for brewing and food processing.
Breakup by Grade:
Standard Malt Specialty Malt
Specialty malt is the largest segment by grade, driven by the growing demand for craft and artisanal beers that require unique flavors and characteristics only specialty malts can provide.
Breakup by Application:
Alcoholic Beverages Non-Alcoholic Beverages Food Products Pharmaceuticals Others
Alcoholic beverages constitute the largest segment by application, as malt is a fundamental ingredient in the production of beer, whiskey, and other alcoholic drinks, reflecting its critical role in the beverage industry.
Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Europe is the largest market by region, attributed to its long-standing brewing traditions, high consumption of malt-based alcoholic beverages, and the presence of numerous craft breweries and malt producers.
Key Highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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