Malt Extracts and Ingredients Market – Future Growth, Comprehensive Analysis & Key Players

The malt extracts and ingredients market size is estimated to be valued at USD 17.6 billion in 2020 and is projected to reach USD 20.4 billion by 2025, recording a CAGR of 3.0% during the forecast period. The increase in the demand for beer has majorly been driving the market for malt extracts and ingredients. Factors such as their use as a sweetening agent and their ability to raise and soften the dough have propelled their use in various applications in the food & beverage industry.

Key Market Players:

·         Groupe Soufflet (France)

·         Muntons PLC (US)

·         Viking Malt (Finland)

·         Diastatische Producten (Netherlands)

·         Laihian Mallas (Finland)

·         Rahr corporations (US)

·         Graincorp Limited (Australia)

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Market Dynamics:

Drivers

·         Rising adoption of malt extracts and ingredients in the food & beverage industry

·         Increasing demand for natural sweeteners

·         Increasing expansion strategy by malt extract and ingredient manufacturers

Restraints

·         Fluctuating beer market

·         Quality of barley and seasonal variations

Opportunities

·         Emerging markets illustrate the great potential for malt extracts and ingredients

·         Increasing popularity of craft beer

·         Rising demand for organic malt extracts and ingredients

Challenges

·         Supply of counterfeit malt as well as equipment

·         Price pressure on malt, owing to concerns in the distribution network

Scope of the report

Based on the product, the malt extracts and ingredients market has been segmented as follows:

• Extracts
• Ingredients

Based on the source, the malt extracts and ingredients market has been segmented as follows:

• Barley
• Wheat
• Rye
• Others (rice, oats, sorghum, millets, and corn)

Based on grade, the malt extracts and ingredients market has been segmented as follows:

• Standard Malt
• Specialty Malt:
• Crystal
• Roasted
• Dark
• Others (specially kilned malts)

Based on application, the malt extracts and ingredients market has been segmented as follows:

• Beverages:
• Alcoholic
• Non-alcoholic
• Food
• Pharmaceuticals
• Others (pet food and personal care products)

Based on form, the malt extracts and ingredients market has been segmented as follows:

• Dry
• Liquid

Based on the region, the malt extracts and ingredients market has been segmented as follows:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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The use of malt extracts and ingredients in food applications to remain high during the forecast period

The food application segment is projected to grow at the highest CAGR during the forecast period, owing to the high preference of malts as a natural sweetener. They are mainly used in baked goods, bread, cookies, bagels, rolls, pretzels, pizza crusts, biscuits, crackers, and several snacks. Apart from bakery, they are also used in the confectionery sector for the preparation of malted milk balls, chocolates, and candies.

Malt ingredients are also used in the manufacturing of mixes of several food options, such as waffles, sauces, pancakes, soups, gravies, muffins and cakes, breakfast cereals, baby food, granola, popcorn, energy bars, ice cream cones, baked beans, table syrups, toppings, yogurt, frozen foods, and peanut butter.

With the increasing demand for craft beer, Asia Pacific is estimated to dominate the malt extracts and ingredients market

The changing lifestyle and increasing buying power of consumers have increased the demand for malt extracts and ingredients. The growth of the region is owing to the increasing production of craft beer and the rising acceptance of convenience foods among consumers due to their hectic lifestyles. Also, the inclination of the millennial population toward natural food additives and natural sweeteners drives the Asia Pacific malt-based food market, which, in turn, is driving the demand for global malt extracts and ingredients. In recent years, the rise in innovation in various applications has increased the market’s horizon. This factor is also expected to propel the market growth.