Malt Ingredients Market Research Development Status, Competition Analysis, Type and Application 2032
Malt Ingredients Market Scope:
The malt ingredients market can project healthy growth at
5.55% rate from 2023 to 2032, confirms Market Research Future (MRFR). MRFR
further adds that the market value by the evaluation period’s end should be USD
10.56 billion, given the strong demand for whiskey, beer, malted milkshake,
crafted beer, and malt vinegar.
Growth Boosters and Deterrents:
As living standards continue to improve, the preference for
different processed food, as well as alcoholic and non-alcoholic drinks rises
as well. Consumption of baked items and confectionary products infused with
malt ingredients is bolstered by the surge in the number of occasions such as
parties, marriages, and social gatherings. Mounting number of cafes,
restaurants and hotels, in line with the surge in global tourism adds to the
market worth as well.
Numerous brands are sensing the lucrative opportunity and
are undertaking several social media marketing steps to gain the interest of
tech-savvy young consumers seeking personalization, value for money, coupled
with rising digital access. The significant growth in the number of netizens
paired with the surging internet usage across the globe should also boost the
sale of Malt
Ingredients Market Research in the following years.
Emerging countries are proving to be attractive business
spots for global manufacturers, thanks to the rising acceptance as well as
consumption of alcohol. Another significant opportunity would be the strong
impact of social media on millennials and the Gen Z population, resulting in
higher spending on gin and various types of alcohol.
Segmental Review:
The malt ingredients market can be dissected in terms of
form, source, as well as application.
The malt ingredients industry, with respect to form, has
been considered for dry extract along with liquid extract.
Source-wise, the malt ingredients market caters to rye,
wheat, barley, and more.
The malt ingredients market, depending on application, has
been segregated into beverages, food, and others. The beverage-based
sub-segments are alcoholic as well as non-alcoholic beverages.
Regional Insight:
Europe forms the biggest market for malt ingredients, with
France, the U.K, and Germany emerging as the leading performers. Europe
benefits largely from the robust economic conditions, affordability, and the
preference for alcohol in different occasions. Various types of malt
ingredients are extensively used by the food processors, giving a substantial
push to the market. The market demand gets a boost from companies increasingly
forming joint ventures to enhance their market positions. Elite lifestyles, in
line with high disposable incomes of the people in general should further
elevate the demand for malt ingredients in subsequent years.
China and India contribute significantly to the growth of
the APAC market, which is expected to garner the fastest advancement rate in
the ensuing years. Soaring number of small-sized distilleries and the
innovations based on quality, particularly in China would also have a
remarkable impact on the regional market. Singapore, Australia, Hong Kong, and
India are also promising markets in APAC, in view of the surging per capita
income, western culture’s rising influence, and people’s mounting interest in luxury
products.
Top Companies:
Muntons plc (England), Pure Malt Products Ltd (UK), Cargill
Inc. (US), Bairds Malt (UK), Ociété Coopérative Agricole Axereal (France),
Vivescia (France), Simpsons Malt Ltd (UK), COFCO (China), Country Malt Group
(New York), BARMALT MALTING INDIA PVT. LTD.(India), Dalian Xingze Malt
Processing Co. Ltd. (China), EDME (UK), Briess Malt & Ingredients Co (US),
GrainCorp (Australia), Soufflet Group (France), Crisp Malting Group Limited
(UK), are the top producers of Malt
Ingredients Market Report.
Recent Updates:
January 2022: Wonderland Distilling is about to introduce
for the first time, on-premise distilled product, namely a single malt whiskey
that has been aged in apple brandy barrels. The Single Malt Whiskey contains
100% Maris Otter Malt, utilizes conventional distilling techniques, and has
been aged in apple brandy barrels, which gives it a unique character and
richness.
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