Malted Barley is the fastest growing segment fueling the growth of Malt Ingredient Market

 

The global Malt Ingredient Market is estimated to be valued at US$ 6.11 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Malt ingredients are grains or seeds that have been allowed to partially germinate by soaking and then halted from germinating further with the application of heat. This process produces enzymes that break down the grains' starches and proteins which produces sugars and improves flavor. The malted grains are then used to make beers, whiskies, foods like cereals and baked goods.

Market Key Trends:

Malt Ingredient market is witnessing increasing usage in beer manufacturing as it enhances the taste and aroma besides improving health. The growing craft beer industry is one of the major drivers of increased demand for Malt Ingredient. According to the Brewers Association, the number of craft breweries in the United States grew from 8,613 in 2020 to 9,118 in 2021. Moreover, rising health awareness has fueled demand for nutrient-rich food & beverages, contributing to the market growth of malt ingredients known for various health benefits like relief from indigestion and low sugar. The transition toward organic and natural food ingredients will further augment the market of malt ingredients over the forecast period.

Segment Analysis:

The global malt ingredient market is segmented on the basis of source, form, application and region. Based on source, the market is divided into barley, wheat and rye. The barley segment dominates the market as barley is the most commonly used cereal grain for producing malt. It provides superior functional properties compared to other sources such as wheat and rye.

Key Takeaways:

The global malt ingredient market is expected to witness high growth, exhibiting CAGR of 5.7% over the forecast period, due to increasing demand from food and beverage industry.

Regional analysis: North America dominates the global malt ingredient market, accounting for more than 30% of the total market share. Asia Pacific exhibits highest growth and is expected to be the fastest growing market during the forecast period, driven by increasing demand from countries such as India and China.

Key players: Key players operating in the malt ingredient market are Axereal Group, Cargill, Incorporated, RAGLETH LTD., GrainCorp Malt Group, IREKS GmbH, Dohler GmbH, VIVESCIA Industries, Muntons plc, Polttimo Oy, Malt Products Corporation, Briess Malt & Ingredients Co., Malteries Soufflet SAS, and Simpsons Malt Limited. Cargill and Axereal Group capture majority of the market share due to their vast geographical presence and wide product portfolio.

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