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WILMINGTON, DE, UNITED STATES, September 23, 2024 /EINPresswire / -- The consumption of flavored beverages has been growing exponentially throughout the years and as a result the demand for malt ingredient has also grown as it is an essential ingredient used while making such beverages. According to a new report published by Allied market Research, titled,“Malt Ingredient Market ," The malt ingredient market was valued at $20.4 billion in 2021, and is estimated to reach $29.4 billion by 2031, growing at a CAGR of 3.9% from 2022 to 2031.
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Europe was the highest revenue contributor, accounting for $8,604.7 million in 2021, and is estimated to reach $11,087.0 million by 2031, with a CAGR of 2.7%. One of the most common cereal grains, malt, is made from barley, which is first soaked in water before being dried in hot water. This method enables the germination of the barley. Malting is the name of this procedure. Grain starches can be converted into sugars like glucose and fructose through the malting process. Diastatic and non-diastatic malt powder are the two varieties that are offered in the market. For the appropriate rise of the baked good, diastatic malt product is employed during baking. Non-diastatic is majorly used in beverages as it does not contain any enzymes.
Places with attractive ambiance are always the reason for consumers to choose a certain bar or pub. Presently, alcohol consumption is rapidly associated with memorable drinking experiences and well-served meals as consumers are becoming more experimental and social. Bengaluru, India, is called the 'pub capital' of the country. The city has witnessed a big jump in the number of RVB (retail vend of beer) licenses - which permit establishments to run as pubs issued over the last four years.
As against 269 pubs in 2014, the city now has 406, accounting for a 50.9% increase in four years. India is one of the major developing countries and it holds the biggest market share in the overall whiskey market. Such development in modern trades in countries like India is expected to boost the overall malt whiskey market. The alcohol consumption percentage is comparatively high among youth, and the youth generation mostly prefers the attractiveness of places and the popularity of weekend holidays is growing among the youth, which are prominent factors driving the Malt Ingredient Industry.
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Grain crops such as wheat, rye, and barley are known to be one of the main sources in any specialty malt. Over the past couple of years, there has been a rise in Malt Ingredient Market Demand in the food and beverages industry. This has resulted in imbalance proportion of supply-demand Malt Ingredient Market Trends due to uncertain climatic conditions incurring in crop growing regions. For instance, in the U.S. is known for excellent growing conditions for barley crops. However, in 2014, the region reported poor rainfall conditions which resulted in a negative impact on the overall yield of the crop. Thus, barley-derived specialty malts incurred higher marginal prices which affected the overall sales for that particular season. Thus, uncertainties in climatic conditions hamper the overall value sales of Malt Ingredient Market Growth.
Over the past couple of years, there has been a rise in consumption for different types of functions as well as fortified beverages owing to the rise in awareness about the health benefits associated with the beverages. According to Malt Products Corporation, almost one-third of consumers have increased their consumption of nutrient-oriented beverages in the last five years and now most of these target customers seek products with natural and clean ingredients. Malt-based beverages offer not only unique flavor profiles and subtle sweetness but also a low glycemic index and superior nutritional profile as compared to other natural sweeteners such as sugar cane or high fructose corn syrups. This nutritional profile of malt-based functional beverages caters to the requirements and needs of health-conscious customers and thus brings myriad Malt Ingredient Market Opportunities, which paves way for global malt ingredients market to gain traction in the global Malt Ingredient Industry.
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The malt ingredients market is segmented on form, type, application and region. On the basis of form, the market is bifurcated into powder and liquid On the basis of type the market is classified into barley, wheat and rye. On the basis of application, the market is classified into dairy and frozen products, bakery and confectionery, alcoholic beverages, non-alcoholic beverages and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The players operating in the global malt ingredients market have adopted various developmental strategies to increase their Malt Ingredient Market Share, gain profitability, and remain competitive in the market. The key players included in the Malt Ingredient Market Analysis are – Axereal, Barmalt, Briess Malt & Ingredients, Cargill, Inc., CereX BV, Crisp Malting, GrainCorp Limited, Groupe Soufflet, Holland Malt, Imperial Malt Limited, Malteurop, Maltexco S.A., Maltproducts, Muntons plc, Puremalt, Rahr Corporation and Simpsons Malt Limited.
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Key findings of study
On the basis of type, the barley segment had the dominating Malt Ingredient Market Size in the year 2021.
On the basis of form, the liquid segment had the dominating Malt Ingredient Market Size in the year 2021.
On the basis of application, the alcoholic beverages segment dominated the global market in the year 2021, however, dairy and frozen products is likely to be the fastest-growing segment during the Malt Ingredient Market Forecast period.
On the basis of region, North America dominated the global market in the year 2021.
David Correa
Allied Market Research
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