The specialty malt market, encompassing caramel, roasted, and smoked malt, is set to be valued at USD 3,102.40 million in 2024. It is projected to grow to USD 4,250.30 million by 2034, with a compounded annual growth rate of 3.70%. This growth is attributed to the growing demand for specialty malt in the brewing industry and the popularity of craft beer.
The specialty malt market is driven by several factors, including:
- Its high adoption rate due to its beneficial properties
- The high demand for organic food products
- The establishment of mega food parks and food and beverage manufacturing units
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The market is also expected to grow due to advancements in technology, research and development techniques, productivity growth, population growth, government subsidies, abundant raw materials, and improved connectivity. However, government regulations are expected to limit the use of specialty malt and its derivative products, while high prices of organic food discourage consumers.
Asia Pacific is set to record sky-high growth levels in the specialty malt market through 2034, followed by Europe and North America. Top producers include Japan, India, China, and Australia. Growth is expected due to rising per capita income and population, while Europe and North America collectively share a significant market share.
“The specialty malt market is expanding due to advancements in research and development, rising demand, multi-functionality, demand for craft beer, and proliferation of independent breweries. The growing popularity of malted beverages and craft beer among the young population, as well as a preference for organic ingredients, are driving growth.” – Says Lead Analyst at FMI
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Key Takeaways from the Specialty Malt Market Report
- The specialty malt market is experiencing considerable growth, with the United States forecasting a 2.1% CAGR.
- The market in China is expected to rise at a 2.8% CAGR due to its urbanization and clean trends.
- The United Kingdom’s specialty malt market is expected to develop at a 3.3% CAGR, driven by the increasing popularity of beer and non-alcoholic malt beverages.
- Germany’s market is expected to expand at a 2.5% CAGR due to its traditional beer brewing and the growing demand for organic and natural products.
- India’s specialty malt market is expected to inflate at a 4.2% CAGR through 2034, driven by the rising middle class, craft beer and microbreweries, and government initiatives to promote the food processing industry and encourage foreign direct investment.
Key Companies
- London Dairy Co. Ltd (UK)
- Inc (USA), Conagra Brands
- Daiya Foods Inc. (Canada)
- General Mills Inc. (USA)
- Grupo Bimbo S.A.B.de C.V.(Mexico)
- Associated British Foods PLC (UK)
- Lantmännen Unibake (Denmark)
- Cole’s Quality Food Inc. (USA)
- Aryzta AG (Switzerland)
- Vandemoortele NV (Belgium)
- Europastry S.A. (Spain)
- Dun & Bradstreet
- Danone SA (France), ADM (USA)
Competitive Landscape of the Specialty Malt Market
The market is characterized by high product differentiation and innovation, driven by factors such as increasing demand for craft beer, growing disposable income, and changing consumer preferences towards healthy and organic products. Major players like British Foods PLC, Lantmännen Unibake, and ADM are investing in research and development to stay ahead.
Latest Development
In 2024, South Seas Distilleries and Breweries Private Limited, India’s oldest malt whisky distillery, introduced its single malt whisky, The Crazy Cock, in Goa. The brand, known for matured malt whiskies, features the symbol of the rooster to represent unconventional thinkers and passion-driven individuals, expanding its portfolio and offering unique blends.
Key Segmentation
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
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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