Global Malt Ingredient Market to Accrue $29.4 Bn, Globally, by 2031 at 3.9% CAGR: Allied Market Research

Rise in manufacture of craft beer and surge in acceptance of malt as natural sweetener will expedite the growth of the global malt ingredient market.

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

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Drivers, restraints, and opportunities

Large scale application of malt in food industry and surge in demand for flavored beer or craft beer will expedite the growth of the global malt ingredient market. Nonetheless, the malt has varied side effects and this can pose a threat to the growth of the global market. However, rise in trend of clean-label ingredient and demand for malt based functional beverages will pave a way for growth avenues for the market across the globe.

Covid-19 scenario:

• Disruptions in manufacturing activities and fluctuations in demand and supply of malt ingredients and raw materials due to the lockdown during the COVID-19 pandemic hindered the growth of the global malt ingredient market.
• Supply chain interruptions halted the supply of malt ingredients during the COVID-19 pandemic, thereby impeding the growth of the market across the globe.

The barley segment to dominate the global market in terms of revenue by 2031

Based on the types, the barley segment contributed to the highest market share in 2021, accounting for more than four-fifths of the global malt ingredient market share. Reportedly, this segment is predicted to contribute majorly toward overall market share by 2031. Malting barley is varietal and tastes different depending upon its strain and where it is grown. Barley oriented specialty malt has been gaining higher traction in the craft brewery industry due to its characteristic flavor. Thus, barley source accounts for higher value share in the global malt ingredients market, due to some of the key characteristic features possessed by barley coupled with strong distribution channel. However, the wheat segment is predicted to record the highest CAGR of 5.1% over the forecast period. When used in beer, wheat malt imparts a lighter body than does barley malt, often coupled with a gently refreshing touch of acidity. Most of the craft brewers consider using barley and wheat as the combination for brewing. Moreover, wheat beer has been gaining popularity in North America and Europe. In the U.S. some of the key craft breweries make at least one wheat beer, with a lower portion (40 to 50 %) of malted wheat. Hence, the rise in demand for wheat beer eventually triggers the demand for wheat source-oriented malt ingredients.

The alcoholic beverages segment to hold the major market share over 2022-2031

On basis of the application, the alcoholic beverages segment accounted for the highest share in 2021, contributing four-fifths of the global malt ingredient market share. Moreover, the same segment is set to contribute majorly toward overall market share by 2031 due to the increase in demand for alcoholic beverages across the globe. In addition, benefits such as low cost of malt base further adds to its market attractiveness.However, the dairy and frozen products segment is set to register the highest CAGR of 5.6% during the forecast period. The segmental growth over the forecast timeline can be attributed to the use of malted milk powder used in the production of frozen desserts and ice creams. Malted grains are used in dairy products such as milkshakes and dairy based health. The market for dairy & frozen products is driven by the surging consumption of dairy based products such as malted ice creams malted milk powder and others worldwide.

Europe to maintain global market domination in 2022-2031

Based on the region, Europe contributed notably toward the global malt ingredient market share in 2021, and is projected to continue its dominance during the forecast timespan. The region accounted for more than two-fifths of the global market share in 2021 and is set to continue its dominance during the forecast period. The growth of the market in the region can be attributed to the rise in income level of people and high consumption of flavored beverages and baked goods in the region. In addition, the market across LAMEA is predicted to register the highest CAGR of 6.5% from 2022 to 2031. The growth of the regional market over the forecast period can be credited to the surge in consumption of malt based alcoholic and non-alcoholic beverages due to the increase in the consumption of beer in the region due to surging disposable income and increase in cross-cultural interaction. The report also includes other regions such as North America and Asia-Pacific.

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Major 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 ingredient market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market growth.

Want to Access the Statistical Data and Graphs, Key Players' Strategies: http://bit.ly/3AlsqMO

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