In 2023, the malt ingredients market is anticipated to be worth US$ 25.7 billion. According to Future Market Insights (FMI), the Market as a whole is anticipated to increase at a CAGR of 5.4% from 2023 to 2033, reaching a worth of US$ 43.7 Bn.
The demand for malt ingredients that use malt extras and ingredients in their manufacturing has led to an increase in the demand for malt extracts and ingredients. The industry is expanding due to the presence of numerous beneficial substances in drinks and desserts made with mold.
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These businesses are shifting to producing non-alcoholic beverages that contain malt extracts and components even though there are several restrictions on the distribution of alcoholic beverages in many nations across the world.
Manufacturers Are Focusing On Providing a Variety of Flavors to Gain Market Share
These goods have a lengthy shelf life, and all of these elements are anticipated to fuel market expansion. To gain malt ingredients market share, manufacturers are concentrating on offering products in a variety of tastes.
Additionally anticipated to fuel market expansion is the increased usage of malt extracts in the manufacturing of baked goods. Malt extract has the property of giving products a natural color and flavor; as a result, it is frequently employed in the creation of bread goods.
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Given the rising customer demand for these goods, producers are concentrating on offering healthier foods. Dietary supplement demand is rising, which presents a growth opportunity for this industry. The main health advantages of malt-based supplements are that they assist athletes in performing better and are excellent for heart health.
A Reliable Indicator of Malt Ingredients is Barley
Barley is used in making these items because it has a high protein content, which also happens to be the main reason. The most common source is really barley because it works so well for the malting process. Drinking beverages made from barley has several positive health effects.
Increased consumption of beer and other non-alcoholic beverages by the younger and older generations, combined with growing knowledge of the health advantages offered by these drinks, is fueling the malt ingredients market expansion. The majority of beers made with barley extracts have proven to be the best tasting. All of these factors suggest that the barley malt ingredients market is experiencing strong expansion.
Regional Outlook
The key market share belonged to the United States. With the biggest market share and an impressive CAGR of 6.1%, the United States was the region’s most significant Market for malt ingredients.
The malt ingredients market is well-established in the United States, where products made using malt are frequently used. The Market for malt ingredients is being driven by rising demand for flavored beverages and beverages as well as rising consumption of foods and beverages made with malt.
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Key Takeaways
- To reach US$ 9.5 billion in 2033, the U.S. malt ingredient market is expected to expand at a moderate CAGR of 6.1% over the projected period.
- The projection period is expected to see the U.K. market grow at a CAGR of 2.6%, reaching US$ 2.1 billion by 2033.
- To reach US$ 3.2 billion by 2033, the China malt ingredient market is expected to expand at a moderate CAGR of 4.6% over the projected period.
- To reach USUS$ 821.3 million by 2033, the Japanese market is expected to expand at a CAGR of 2.9% over the projected period.
- Throughout the projection period, the Indian market is expected to expand moderately at a CAGR of 3.8%, reaching US$ 1.2 billion in 2033.
- Malt extract may expand at a CAGR of 4.6% over the forecast period, according to product type in the malt ingredient market.
- In terms of raw materials, the barley category is expected to expand at a CAGR of 4.6% over the anticipated time frame.
Competitive Landscape
The malt ingredients market is extremely fragmented, with different regional and international businesses controlling significant market shares. The primary use of malt components is in the brewing industry. In order to access new applications, players are also diversifying their ingredient sources.
Rahr Corporation, Vivescia (Malteurope), GrainCorp Limited, Axereal, and Group Soufflet are some of the prominent players. The manufacturer is primarily focused on improving the quality of its products through mergers, acquisitions, and product innovations to get a competitive advantage over other market participants.
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Recent Development
Joint Venture- Estonian Malt and Puratos Group
In October 2019, Estonian Malt and Puratos Group, a Belgian corporation that supplies ingredients to bakers, patissiers, and chocolatiers, formed a joint venture. In addition to Estonian malt’s expertise and experience with malt flours and sprouted grains, the joint venture may benefit from Puratos’ vast network of distribution channels, purchasing power, and services. Estonian malt is a rye malt company.
Acquisition – Axereal
Axereal, a French cooperative that cultivates and refines grains primarily for the brewing, baking, and cattle industries, purchased Cargill’s malt division in October 2019 for an undisclosed sum. Through this transaction, Cargill’s Malt business and its employees would get access to a global footprint as well as opportunities for future growth. A producer and supplier of agricultural goods, including ingredients, situated in the United States.
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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