by The 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 produced from germinated cereal grains and find wide application in the brewing industry for producing beers. The key malt ingredients commonly used are barley malt, wheat malt, rye malt, and others. These ingredients provide desirable characteristics like color, flavor, body, and foam stability to the final beer. The diversifying consumer preferences for unique beers have also encouraged small and large breweries to experiment with different malt ingredients.
Market Dynamics:
The growth of the malt ingredient market is driven by the rising craft brewing industry worldwide. There has been significant growth in the number of micro and craft breweries that focus on producing unique craft beers. These breweries utilize a variety of specialty malts to impart specialized flavors, aroma, and character to their beers. Moreover, changing consumer tastes towards more robust, complex flavors have also contributed to the increasing demand for different malt ingredients beyond the conventional barley and wheat malts. Additionally, malt ingredient manufacturers are developing new product lines targeting the booming home-brewing industry. The easy availability of diverse malt varieties has encouraged many amateur brewers to experiment with their homemade brews.
Segment Analysis:
The Malt Ingredient market is dominated by the barley malt sub-segment due to its widespread use in beers, whiskies and other alcoholic beverages. Barley malt accounts for over 60% of the market share as it imparts characteristic flavors and aromas which are key for many drinks. It also aids in enzymatic conversion during brewing and fermentation.
PEST Analysis:
- Political: The agriculture policies and regulations governing crop production impact the availability of barley and influence prices. Currently, supportive policies exist across major growing regions.
- Economic: The economic growth rate impacts the spending power on alcoholic and flavored drinks. A rise in disposable income levels augments the demand for premium products using high-quality malt ingredients.
- Social: Changing social trends toward health-consciousness and wellness cause some consumers to reduce beer consumption. However, demand remains strong for specialty beers and craft spirits.
- Technological: Advanced processing and development of new barley varieties help increase and stabilise barley yield thus ensuring adequate supply of raw materials for malt production. New extraction technologies help refine ingredients.
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 consumption of crafted beers and premium spirits. The market size for 2023 is estimated at US$ 6.11 Bn.
Regional analysis: The Asia Pacific region is expected to emerge as the fastest growing market for malt ingredients due to rising beer consumption, especially in China, India and Southeast Asia. North America and Europe currently dominate the market owing to well-established brewing industries and presence of major 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. These players are focusing on new product launches and capacity expansions to strengthen their positions.
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
