Global Malt Ingredients Market To Accumulate $29.4 Billion, Globally, By 2031 At A CAGR Of 3.9% – Allied Market Research

The increase in craft beer manufacturing and the acceptance of malt as a natural sweetener will accelerate the growth of the global market for malt ingredients.

PORTLAND, Ore., November 17, 2022 /PRNewswire/ — Allied Market Research recently published a report titled “Malt Ingredients Market By Types (Barley, Wheat, Rye), By Form (Powder, Liquid), By Application (Dairy & Frozen Products, Bakery & Confectionery, Alcoholic Beverages, Non-Alcoholic Beverages, Others): Global Opportunity Analysis and Industry Forecast, 2021- 2031.According to the report, the global rocker switch industry was estimated to be $20.4 billion in 2021, and is expected to reach $29.4 billion by 2031, growing at a CAGR of 3.9% between 2022 and 2031. The report offers a detailed analysis of changing market trends, major segments, key investment pockets, value chains, regional landscapes and competitive scenarios.

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Drivers, constraints and opportunities

The large-scale application of malt in the food industry and the increasing demand for flavored beer or craft beer will accelerate the growth of the global market for malt ingredients. However, malt has a variety of side effects and this may pose a threat to the growth of the global market. However, the rise in the trend for clean-label ingredients and the demand for malt-based functional beverages will pave the way for market growth across the globe.

Covid-19 scenario:

  • Disruptions in manufacturing activities and fluctuations in the demand and supply of malt ingredients and raw materials due to the lockdown during the COVID-19 pandemic hampered the growth of the global malt ingredients market.

  • Supply chain disruptions halted the supply of malt ingredients during the COVID-19 pandemic, impeding market growth worldwide.

The barley segment will dominate the world market in terms of revenue by 2031

Based on types, the barley segment contributed the largest market share in 2021, accounting for more than four-fifths of the global market share for malt ingredients. This segment is reportedly expected to contribute heavily to the overall market share by 2031. Malting barley is varietal and tastes different depending on its strain and where it is grown. Barley-oriented specialty malt has been gaining ground in the craft brewing industry due to its distinctive flavor. Therefore, the barley source represents a higher value share of the global malt ingredients market, due to some of the key characteristics that barley possesses along with a strong distribution channel. However, the wheat segment is forecast to record the highest CAGR of 5.1% during the forecast period. When used in beer, wheat malt imparts a lighter body than barley malt, often along with a slightly refreshing hint of acidity. Most craft brewers consider using barley and wheat as a mix for brewing. In addition, wheat beer has been gaining popularity in North America Y Europe. In the US, some of the major craft breweries brew at least one wheat beer, with a minor portion (40-50%) malted wheat. Therefore, the increased demand for wheat beer ultimately triggers the demand for wheat source-oriented malt ingredients.

The alcoholic beverage segment will have the largest market share during 2022-2031

According to the filing, the spirits segment accounted for the highest share in 2021, contributing four-fifths of the global malt ingredients market share. Furthermore, the same segment is expected to contribute heavily to the overall market share by 2031 due to the increased demand for alcoholic beverages across the globe. Additionally, benefits such as the low cost of the malt base further add to its market appeal. However, the Dairy and Frozen segment will post the highest CAGR of 5.6% during the forecast period. The segmental growth over the forecast schedule can be attributed to the use of malted milk powder used in the production of frozen desserts and ice creams. The malted grains are used in dairy products such as milkshakes and health-based dairy products. The dairy and frozen products market is driven by the increasing consumption of dairy products such as malt ice cream, malted milk powder and others around the world.

Europe to maintain world market dominance in 2022-2031

Depending on the region, Europe notably contributed to the global malt ingredients market share in 2021, and is anticipated to continue its dominance over the anticipated time period. The region accounted for more than two-fifths of the global market share in 2021 and is poised to continue its dominance over the forecast period. The growth of the market in the region can be attributed to the increase in the income level of the people and the high consumption of flavored beverages and baked goods in the region. In addition, the LAMEA market is forecast to record the highest CAGR of 6.5% between 2022 and 2031. The growth of the regional market during the forecast period can be attributed to the increase in the consumption of alcoholic and non-alcoholic beverages based on malt due to the increase in beer consumption in the region due to increased disposable income and increased intercultural interaction. The report also includes other regions such as North America Y Pacific Asia.

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The main market players

  • Simpsons Malt Ltd.

  • cargill inc

  • Bairds Malt Ltd.

  • Crisp Malting Group Ltd.

  • Heineken

  • Muntons Malt plc

The report analyzes these key players in the global malt ingredients market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures to improve market penetration and strengthen their position in the industry. The report helps the target audience to determine the performance of the market, the performance of each segment, the development of the product portfolio in the market, and the contributions of each player to the growth of the market.

You want to access the statistical data and graphs, the strategies of the key players: http://bit.ly/3AlsqMO

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