Malt ingredients which were used initially to create nutritional supplements for infants, still find extensive use in the infant formula & baby food industry. The increasing demand that is propelling the alcohol industry on a global scale is expected to increase demand for malt ingredients directly. Malt is primarily used to make beer and whiskey. Innovation in alcoholic beverages has inspired various unique combinations of malt ingredients, thus driving market growth. Innovative products which use malt products are expected to grab the discerning consumer’s attention and increase demand for malt ingredients. Some innovations include nut butter which use dry malt extract to offer a beer undertone, distinguished truffle versions of popular malt confections, and in ice cream. Additionally, malt ingredients are in high demand for use in making popular confectionaries and in drinks such as Horlicks & Ovaltine.
Malt Ingredients Market is estimated to grow substantially over the forecast period of 2017 to 2023. Several projections and estimations regarding this market have been made by Market Research Future in their report on the global malt ingredients market. The growth of several end-use industries and demand for products where malt ingredients are essential has proportionally prompted increase in demand for malt ingredients.
Expanding global production of malt is expected offer room for growth in various regions. Developing regions are expected to create opportunities for the market in the coming years.
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Major Key Players Analysis:
Market leading players that have been profiled in MRFR’s report include Malteurop Group, Ireks GmbH, Global Malt GmbH & Co KG, Cargill Inc., Soufflet Group, GrainCorp, Muntons Plc, Simpsons Malt, and Boortmalt. These companies’ market strategies have been analyzed to provide a comprehensive view of the competitive landscape.
Latest Industry News:
Soufflet Group has signed an agreement with the Industrial Parks Development Corporation in Ethiopia to construct a malt plant. Production is expected to start in 2020. This production facility is expected to be the first malt factory in Africa.
Ben & Jerry’s has launched a new ice cream flavor in partnership with Phish – caramel malt ice cream.
U.S. Breweries, such as Wren House Brewing Company, has switched to using locally produced barley. The move comes after the local farmers partnered up with The Nature Conservancy to grow spring barely which uses less water to protect the Verde River, thus marking a trend toward sustainability among domestic breweries.
The global malt ingredients market has been segmented on the basis of raw material, form, application, and region. By raw material, the market has been segmented into barley, wheat, rye, and others. By form, the market has been segmented into dried, fresh, instant and others. By application, the market has been segmented by alcoholic beverages, baked foods, cereal products, confectionaries, drink mixes, pharmaceuticals and others.
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Globally, Europe leads the market with the largest share due to the extensive use of malt ingredients in the massive beer production industry in the region. Europe is expected to maintain its position over the course of the assessment period. North America closely follows Europe regarding market size due to the presence of various end-use industries that use malt ingredients in confectionaries, drink mixes and alcoholic beverages. In fact, use of malt ingredients in drink mixes was done in North America where it is still a widely popular use.
The emerging economies in the Asia-Pacific such as China and India have witnessed an increase in the sales of alcoholic beverages, with domestic breweries, who make craft beer, starting beer production in these countries, thus facilitating growth for the market during the forecast period. Rest of the World is also expected to grow. Countries in the Middle East, non-alcoholic malted beverages of various flavors are available and extremely popular.
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