The specialty malt market is a segment within the larger malt industry that focuses on producing unique and specialized malt varieties for various applications in the food and beverage sector. Specialty malts are created by modifying the traditional malting process to achieve specific flavor, color, and aroma characteristics desired by brewers, distillers, and food manufacturers.
Specialty malts are known for their distinct and complex flavors, which can range from caramel and toffee notes to roasted and nutty profiles. These malts are often used in the production of craft beers, spirits, and specialty food products to add depth, complexity, and unique sensory experiences.
The growth of the specialty malt industry can be attributed to the increasing consumer demand for premium and artisanal products. Craft breweries and distilleries have gained popularity worldwide, leading to a greater need for specialty malts to differentiate their offerings and cater to evolving consumer tastes. Additionally, the culinary industry has embraced specialty malts, incorporating them into gourmet recipes and innovative food creations.
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The specialty malt industry was valued at USD 2,800 million in 2022, and it is predicted to increase at a CAGR of 3.6% from 2022 – to 2032, attaining a market value of USD 3988 million. Among the sources of specialty malt, barley is by far the most common grain used in malting for a range of applications.
Specialty malt is used on a large scale in a number of important food and beverage businesses. In the brewing of beer and the creation of malt-based beverages, specialty malt plays a crucial role. It’s widely used in alcoholic beverages as a flavouring and colouring agent, and it’s in high demand. The primary driver of specialty malt market growth is increased use of malt-based alcoholic and non-alcoholic beverages. Furthermore, increased consumption of malt-based beverages in developing markets such as India and China has fuelled growth.
Key Takeaways:
- The specialty malt industry was valued at USD 2,800 million in 2021, and it is predicted to increase at a CAGR of 3.6 percent from 2021 to 2032, reaching a market value of USD 3988 million.
- Specialty malt is used on a large scale in a variety of key food and beverage businesses. In the brewing of beer and the creation of malt-based beverages, specialty malt plays a crucial role.
- The Specialty Malt industry is predicted to be worth USD 191 million, with a 22 percent market share.
- China grew at a spectacular 6.9% compound annual growth rate (CAGR). China has a market value of USD 307 million and a market share of 32% in the specialty malt.
- With a market share of 65 percent, the U.S is one of the world’s largest marketplaces for malt beverages, with a total market value of USD 691.6 million.
“Changing taste and preference and inclination towards alcoholic beverage made of specialty malt is likely to boost the growth of specialty malt market. There are many application other than being used as a major component in alcoholic beverage like application of maltose as sweeteners in various food industries to replace sugar which is better option for consumer who are health conscious,” says a lead analyst at Future Market Insights.
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Competitive Landscape:
The distribution network is a challenge for specialty malt producers. The most significant concern is the squeeze on manufacturers’ profit margins, as retail retailers deliver products with reduced profitability even when no reductions are offered. At the same time, retailers are increasing their demands for more frequent delivery from local producers in order to cut their warehousing costs. Malts are commonly used in distilleries to make spirits, whiskey, and other alcoholic beverages. The increasing usage of malt in brewers and distilleries, together with the expanding demand for flavoured whiskeys around the world, is driving the rise of the alcoholic drinks market.
Key Companies Profiled are: Malteurop Groupe, Soufflet Group, Cargill, GrainCorp Ltd., Axereal Group and others
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Future Market Insights, in its new report, offers an unbiased analysis of the global Specialty Malt industry , presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Segmentation of Specialty Malt Market
By Application:
- Distilling
- Brewing
- Baking
- Non-Alcoholic Malt beverages
By Source:
- Barley
- Rye
- Wheat
By Form:
- Dry Specialty Malts
- Liquid Specialty Malts
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Frequently Asked Questions
- How much is the Specialty Malt market currently worth?
- At what CAGR is the market expected to grow?
- What are the key trends boosting Specialty Malt sales?
- How are market players reacting to the new developments in the market?
- How many shares do the top 3 companies hold?
- Which are the major countries driving demand for Specialty Malt?
- Who are the major players in Specialty Malt Market?
- What outlook does APAC provide?
- At what rate will the USA Specialty Malt market grow?
- At what level does the report reflect pricing analysis?
Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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