Market Insight —
Global Malt Ingredients Market is expected to create a valuation of USD 8.9 BN by 2024, growing at 5.1% CAGR during the forecast period (2019 – 2024). MRFR asserts that the market would witness a period of sluggish growth as a COVID-19 Impact. Coronavirus has flattened alcoholic beverage sales across the globe, states the MRFR expert working on COVID-19 analysis of the market. Crafting brewers perceive a significantly cut demand among all businesses that have been impacted by COVID-19 stay-at-home restrictions.
The malt ingredients market is growing continually, witnessing consecutively successful years. The market growth majorly attributes to the rising consumption of malts in the food and beverage industry. Also, increasing usages of malt ingredients in the production of medicines, nutraceuticals, and health supplement products boost the market growth further. Moreover, growing numbers of breweries and increasing production of alcoholic beverages worldwide escalate the growth of the market to furthered height.
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Additionally, factors such as the changing consumption patterns of beverages, growing demand for new flavors & ingredients infused alcoholic beverages, and the rise in the average global consumption of alcohol per capita per year drive the market phenomenally. Improving per-capita disposable income and changing lifestyles are the major driving forces behind the increased the market demand, increasing the consumption of alcoholic beverages. Besides, shifting consumer demand and the availability of endless ranges of flavored spirits accelerate the growth of the market.
Highly competitive, the malt ingredients market appears due to the presence of several large and small players. To gain a larger competitive share, industry players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch. Players compete based on quality, variety, price, reputation, and distribution.
Continually changing consumer demands and preferences further encourage players to widen their market penetration by including various malts to their product portfolio. With the COVID crisis industry players are looking for capital expenditure and cost savings including a 20% reduction in base fees for the remainder of FY20
Players leading the Global Malt Ingredients Market include Vivescia (France), Ociété Coopérative Agricole Axereal (France), Cargill Inc. (US), Soufflet Group (France), GrainCorp (Australia), Bairds Malt (UK), Briess Malt & Ingredients Co (US), Barmalt Malting India Pvt. Ltd.(India), COFCO (China), Crisp Malting Group Limited (UK), Country Malt Group (New York), Dalian Xingze Malt Processing Co.Ltd. (China), Pure Malt Products Ltd (UK), EDME (UK), Muntons plc (England), and Simpsons Malt Ltd (UK), among others.
Industry/ Innovation/ Related News
July 17, 2019 - Malt Products Corporation (the US), a leading global manufacturer and distributor of natural, nutritious sweeteners, announced the opening of its Innovations Lab in Minneapolis. The new facility would enable food and beverage manufacturers to test ingredients, experiment with new formulations, and explore flavor and stability properties.
MPC is one of the largest malted barley extract and natural sweeteners. The new lab can work with a wide range of products, including baked goods, dairy products, plant-based proteins, and malt-based beverages. The company said that it wants to make it easy to prototype new products with healthier, pantry-friendly ingredients with mission-critical characteristics.
The report is segmented into four dynamics.
By Form: Dry Extract and Liquid Extract.
By Source: Barley, Wheat, Rye, and others.
By Application: Food, Alcoholic Beverages, Non-alcoholic Beverages, and others.
By Regions: Americas, Europe, Asia Pacific, and Rest-of-the-World.
Europe dominates the global malt ingredients market. The largest market share attributes to the growing demand from brewing industries and alcoholic & non-alcoholic beverage makers. Besides, factors such as the rising popularity of malt-based beverages and increasing per capita disposable income of demographics influence the market growth of malt ingredients in the region.
Also, growing usages of malt ingredients in processed food products are likely to boost the regional market growth. Moreover, the presence of a vast consumer base of alcoholic beverages led by the relaxation in alcoholic beverages production regulations in the region boosts the regional market growth. The European malt ingredients market is projected to retain its leading position in the global market throughout the forecast period.
North America stands second in the global malt ingredients market. The market is driven by the next highest consumption of overall alcoholic beverages in the region after Europe. Moreover, factors such as the presence of several notable players and high per capita disposable income in the region foster market growth. Besides, increasing contributions from the US and Canada markets are supporting the market growth in the region. The fraction of unrecorded consumption is higher in developing parts of the world, including regions of Africa, Asia, and South America. Unrecorded consumption is estimated to be proportionally higher in the Eastern Mediterranean Region, which would contribute to regional market growth. The North American malt ingredients market is expected to create a substantial revenue pocket during the assessment period.
The Asia Pacific is an emerging market for malt ingredients globally. The region witnesses an increasing demand for processed food and alcoholic and non-alcoholic beverages. Most of the APAC food processing companies are increasingly including malt ingredients in their products, which is catalyzing the market growth of the market. The excessive production advantage in the region attracts foreign investors, which creates a huge market demand, increasing breweries in the region. Furthermore, the growing consumption of malt ingredients in the rapidly growing pharmaceutical and nutraceutical industries in the region propels the market growth. Additionally, factors such as the rapidly improving economy, changing lifestyles, and increasing consumption of alcoholic beverages foster the growth of the regional market. China being the major consumer market, contributes to the regional market growth majorly. The APAC malt ingredients market is expected to register the highest CAGR during the forecast period.
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