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Malt and Malt Extracts Market Size And Forecast
Malt and Malt Extracts Market size was valued at USD 27.03 Billion in 2021 and is projected to reach USD 37.49 Billion by 2030, growing at a CAGR of 3.70% from 2023 to 2030.
Growing demands for organic food and increasing awareness regarding the nutritious benefits of malt are expected to drive the market for Malt and Malt Extracts Market. The Global Malt and Malt Extracts Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Malt and Malt Extracts Market Definition
Malts are germinated cereal grains that are dried and processed after soaking them in water. The process is termed malting where the grains develop the enzymes that are further required to modify them into starch and other types of sugar. Further, these enzymes develop proteases that break the proteins down into forms that can be used in the formation of yeast.
The use of malt in the beer industry is expected to be a potential driver for the market and is growing the market at a fast rate. Its widespread use in the food industry is another impetus for the growth of this market. The use of different types of malt extracts in food products is seen as an opportunity for the Global Malt and Malt Extracts Market. The growing popularity of wine and other beverages acts as a hindrance to the growth of this market, as this would reduce the consumption of beer.
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Global Malt and Malt Extracts Market Overview
Malt is considered a unique beneficial product that empowers the food and beverage industries to produce an exclusive palette of flavor, color, and texture which is highly nutritious as part of a balanced diet. In terms of nutritious content, malt is rich in natural sugar constituents, low in fat, and a source of Fiber, complex carbohydrates, protein, and vitamins that make it an ideal food and beverage ingredient. The key drivers associated with alcohol utilization among this age group are anticipated to be formative transitions such as puberty and rising autonomy. Besides, changing taste and preference designs have come about in an increment in demand for low liquor content beverages, such as lager.
Moreover, the developing number of female consumers around the world is a growing demand for alcoholic beverages, and, as a result, the malt and malt extricate market is growing. Uses of malt in food and beverage are not only limited to adding flavor or color. Malt serves as a base product or raw material for several industries such as baby food, health supplements, and protein-rich foods. With the growing demand for these food items and supplements, the Malt ingredients market is expected to grow simultaneously. Malt extricates are minimally handled, clean-label fixings that offer the perfect adjustment in pastry kitchen foods. They not as it included color and enhance the bread, but they also contain antioxidants, basic amino acids, vitamins, and minerals.
Besides, malt extracts derived from grown grains can be utilized as a sugar substitute in bakery foods, allowing them to be labeled sugar-free. Rapidly rising population, changing food utilization habits, rising demand for go-to foods, and rising socialization are anticipated to be key drivers for the bakery industry, contributing significantly to the malt industry. Organic products are grown without the use of fertilizers, artificial chemicals, and pesticides. The most significant motive for choosing organic food is the health factor followed by the environmental and animal welfare factors. The market for organic food products globally has been growing at a rapid pace over the last few years.
Rising health consciousness among consumers in major regions has been the key factor contributing to growth in the market. Growing demands for organic food and increasing awareness regarding the nutritious benefits of malt are expected to drive the market for Malt and Malt Extracts Market. In spite of growing at a high rate and having a tremendous scope of expansion, the malt and malt extract market faces a substantial constraint in terms of raw material prices. Due to the increasing demand for malt from the food and beverage sector, major producers of malt export the material causing a hike in prices of the raw material for importers as well as local users.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Malt and Malt Extracts Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in the global Malt and Malt Extracts Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Global Malt and Malt Extracts Market: Segmentation Analysis
The Global Malt and Malt Extracts Market is segmented on the basis of Type, Application, and Geography.
Malt and Malt Extracts Market, By Type
- Liquid Malt Extract
- Dry Malt Extract
Based on Type, the market is segmented into Liquid Malt Extract and Dry Malt Extract. Liquid malt extracts dominated the market. On the basis of Application, the Malt and Malt Extracts Market were dominated by Alcoholic Beverages, Non-Alcoholic Beverages, Food, Pharmaceuticals & Animal Feed.
Malt and Malt Extracts Market, By Application
- Bakery
- Confectionary
- Beverages
- Food
Based on Application, the market is segmented into Bakery, Confectionary, Beverages, and Food. In terms of source, the market was dominated by Bakery. Barley was also the fastest-growing market. On the basis of application, the market was dominated by alcoholic beverages.
Malt and Malt Extracts Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
On the basis of Regional Analysis, The Global Malt and Malt Extracts Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific locale accounts for the biggest share of the Malt and Malt Extracts Market. Concurring to investigate by Bank of America Merrill Lynch. India is the biggest customer of alcoholic refreshments, with an estimated utilization of 6.5 billion liters in 2020 while China and Japan are inside the driving liquor buyers list as well, with their utilization crossing a billion liters each year. The high demand for alcoholic beverages and confectioneries in these districts can be the major reason for the colossal showcase for malt extricates. Other than liquor, the high production of confectioneries is additionally one of the reasons for the development of the Malt and Malt Extracts Market.
Key Players
The “Global Malt and Malt Extracts Market” study report will provide valuable insight with an emphasis on the global market including some of the major players such as Axereal Group, Cargill Incorporated, Graincrop Limited, Malteurop Group, Soufflet Group, Crisp Malting Group, Global Malt Gmbh & Co. Kg, Ireks Gmbh, Muntons Plc, and Simpsons Malt Ltd.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
- November 8, 2022, Cargill and CARE International joined for improving sustainable agriculture for rural communities in Dak Lak, Vietnam.
- October 28, 2022, Cargill, together with its partner Naturisa S.A., reached an agreement to partner with Skyvest EC Holding S.A. to create a new joint venture that will serve Ecuadorian shrimp farmers’ increasing demand for high-quality shrimp feed. Cargill will expand its shrimp-feed production capabilities to own and operate the shrimp-feed production facility currently owned by SkyWest subsidiary Empagran—located in Guayaquil, Ecuador. The feed plant that will be operated by Cargill was built in 2018, has a production capacity of 156,000 metric tons, and employs more than 200 people.
- July 22, 2022, Cargill and Continental Grain Company acquired Sanderson Farms, Inc. by a joint venture between Cargill and Continental Grain.
- June 30, 2022, Innovafeed and Cargill extend their partnership to bring healthy novel ingredients to aquafarmers. The aquaculture industry is focused on its role in ocean stewardship and addressing the sustainability of food systems. Cargill and Innovafeed are committed to actions that identify and grow planet-friendly ingredients, find new ways to reuse by-products, and develop fish nutrition that promotes and enhances the health of farmed fish.
- June 30, 2022, Muntons Launched PlantMalt for Clean, Plant-Based Food Full of Flavour. A comprehensive range of grain malts, liquid, and powdered malt extracts specifically applied for the plant-based world, PlantMalt is a clean, sustainable range of malted ingredients to achieve flavor, texture, color, and mouthfeel getting much closer to meat-based alternatives.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period |
2018-2030 |
| Base Year |
2021 |
| Forecast Period |
2023-2030 |
| Historical Period |
2018-2020 </" 
|