According to our latest market study on “Global Malt Extracts Market Forecast to 2027 – Covid-19 Impact and Global Analysis – by Form (Liquid and Powder); Nature (Organic and Conventional); Application (Food, Beverages, Pharmaceuticals, Others); and Geography,” the market was valued at US$ 815.79 million in 2018 and is projected to reach US$ 1,321.66 million by 2027; it is expected to grow at a CAGR of 5.6% from 2019 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Report Coverage Details
Market Size Value in- US$ 815.79 Million in 2018
Market Size Value by- US$ 1,321.66 Million by 2027
Growth rate- CAGR of 5.6% from 2019-2027
Forecast Period- 2019-2027
Base Year- 2019
No. of Pages- 157
No. Tables- 87
No. of Charts & Figures- 80
Historical data available- Yes
Segments covered- Form ; Nature ; Application , and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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Malt extract is a sweet substance extracted from malted grains THAT are germinated cereal grains dried during malting process. It is extensively used in the brewing of beer. It is produced in two forms—dried and liquid. The liquid malt extracts are highly viscous and are available in different shades ranging from light to dark. The dry malt extracts are made by spray drying of liquid extracts. These extracts have been in use in multiple products for their unique flavor characteristics, ability to replace sugar or honey as a sweetening agent in recipes such as baked food, bars, cereals, and cookies. It provides enhanced flavors, aromas, and colors.
The growing number of microbreweries and craft brewers in developed regions such as North America and Europe will propel the market in next few years which indirectly drives the demand for malt extracts. In addition, the rising disposable income and changing lifestyles has increased demand for craft beers in developing countries such as India and China this further boosts the demand for malt extracts in craft beer industry. Furthermore, today’s consumers have shifted their preference towards organic and natural food products hence there is a growing demand for organic beer in the global market. Organic malt extract is rich in antioxidants, vitamins, minerals, and amino acids, and thus they are used as a base for these organic beers which further drives the market for malt extracts. Malt extracts are also used in preparation of non-alcoholic beverages such as malted milk and sports drink, non-alcoholic beers, and soft & energy drinks. Thus, the increasing demand for malt extracts in beverages industries is expected to propel the market during the forecast period.
Effect of COVID-19 on Malt Extracts Market
COVID-19 outbreak first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of March 2020, US, Brazil, India, Russia, South Africa, Mexico and UK are among of the worst-affected countries in terms confirmed cases and reported deaths. According to the latest WHO figures, there are ~17,057,958 confirmed cases and ~666,532 deaths globally for the month of July. The COVID-19 outbreak has been affecting economies and industries in various countries through lockdowns, travel bans, and business shutdowns called up in these countries. Food & beverages is one of the major industries facing serious disruptions such as factories shutdowns, supply chain breaks, and technology event cancellations as a result of this outbreak.
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Based on form, the malt extracts market has been segmented into powder and liquid. The liquid segment accounted for a larger share of the global malt extracts market in 2018, and powder segment is expected to register a higher CAGR during 2019–2027. Liquid malt extracts (LME) is concentrated, unfermented brewery wort, and a viscous syrup used mainly in brewing—especially home brewing—as well as in the food industry.
Based on geography, the global Malt Extracts market is segmented into North America, Europe, AsiaPacific, South America, and the Middle East and Africa. In 2019, Europe held the largest share in the global Malt Extracts market, followed by North America and Asia Pacific.Malt Extracts Market: Competitive Landscape and Key Developments
Maltexco S.A, Malteurop Group, IreksGmbh, Malt Products Corporation, United Malt Group, GroupeSoufflet, Muntons Plc, Boortmalt N.V., Holland Malt, and Rahr Corporation are among the key players in the global Malt Extracts market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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