Malt Market Analysis: A Taste of Global Growth and Opportunities
Malt, a key ingredient in beer production, is experiencing a surge in demand globally, driven by changing demographics and consumer preferences. In 2018, the global beer volume consumption reached an impressive 188 million kiloliters, with the United States and Europe contributing significantly to this figure.
The United States, home to approximately 10,115 permitted breweries in 2020, witnessed a shift in beer consumption patterns between 2010 and 2018. This shift was primarily due to a growing appetite for flavored beer, creating substantial opportunities for breweries and leading to a steady increase in malt consumption.
Meanwhile, in the European Union, the beer industry plays a significant role, with more than 10,000 active breweries, including a surge in microbreweries. Craft beer, particularly favored by young consumers and millennials, is in high demand, leading to a continuous need for malt.
Furthermore, the rising preference for low-alcohol by volume (ABV) and flavored beer options among consumers has further boosted malt demand in the brewing industry.
Sales of Non-alcoholic Malt Beverages Soar as Health-Conscious Consumers Seek Better Alternatives
Malt’s utility extends beyond brewing, finding applications in products like baby food, brews, distillation, confectionery items, medicinal syrups, and cocoa-malt drinks, among others. It is also a key component in manufacturing nutritional supplements, often used to enhance the taste of milk for children.
Malt-based nutritional drinks, enriched with B-vitamins, minerals, fiber, and protein, have gained immense popularity, particularly in the kids’ health drink category. Brands such as Bournvita, Horlicks, and Milo have garnered widespread recognition over the years.
Non-alcoholic malt beverages are now in high demand among health-conscious consumers, offering a wide array of flavors and health benefits. This shift away from carbonated drinks is expected to further fuel the global malt market in the coming years.
Specialty Malt Emerges as a Growth Leader with Its Versatility
The global malt market is segmented based on nature, product type, application, source, and region. Specialty malt, known for its diverse flavors like chocolate and caramel, is expected to exhibit a significant Compound Annual Growth Rate (CAGR) over the forecast period. Its versatility in flavoring products positions the specialty malt segment for substantial growth.
Regarding the source of malt, barley is anticipated to dominate the market in terms of volume. Barley’s abundant availability and suitability as a sustainable raw material for manufacturers are key factors supporting the segment’s growth prospects.
Asia Pacific Takes the Lead in the Global Malt Market
In terms of regions, Europe stands as the largest producer and consumer of malt globally. It accounts for nearly 40% of global malt production and 60% of the trade. With approximately 150 malting plants, countries like Germany, France, and the United Kingdom lead the malt production landscape in Europe.
On the consumption front, the Asia Pacific region is poised to become one of the largest malt consumers during the forecast period. Over 30% of malt produced in Europe is exported to the Asia Pacific region. Increased beer consumption in emerging economies, coupled with a rising demand for non-alcoholic malt beverages, is set to drive the malt market in the region.
India, in particular, is expected to experience substantial value growth potential, accounting for nearly 20% of the world’s retail volume sales of malt-based drinks. Beverage manufacturers are keen to tap into this growing market, with giants like Coca-Cola introducing non-alcoholic malt-based beverages like Barbican in 2019.
Global Malt Market: Key Players
Leading players in the global malt market, as highlighted in this report, include Viking Malts Oy, Malteurop, Muntons PLC, Bairds Malt Ltd, Group Soufflet, Cargill, Inc., GrainCorp Ltd, COFCO Malt, Boortmalt, Crisp Malting Group Ltd., and Rahr Corporation.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/malt-market
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