According to the report in ReportLinker–an award-winning market research solution which finds and organizes the latest industry data so you get all the market research you need—and GlobeNewsWire, the global malt ingredients market grew from $20.77 billion in 2022 to $21.93 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The malt ingredients market is expected to grow to $27.07 billion in 2027 at a CAGR of 5.4%.
The malt ingredients market consists of sales of cereals, baked foods, biscuits, bagels, bread rolls, waffles, pancakes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The malt ingredients refer to the products made of malt, which is a grain, usually barley, that has been dried after being soaked in water until it begins to sprout.Malt ingredients can be solid or liquid in form.
Malt ingredients are primarily used to create alcoholic beverages like beer and whisky.
Western Europe was the largest region in the malt ingredients market in 2022. The regions covered in the malt ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of malt ingredients are dry malt, liquid malt, malt flour, and other types.The dry malt refers to a moisture-free wort, which is an aqueous extract from grain that is meant to be fermented into beer by yeast.
The raw materials used in the production of malt ingredients include barley, wheat, rye, maize, rice, and oat. They are used in brewing, distilling, cereals, bakery, beverages (non-alcoholic), and confectionery applications.
The increasing demand for beer is driving the malt ingredients market.Beer is a carbonated, fermented alcoholic drink with less than 5% alcohol concentration that is frequently brewed from malted cereal grains (mainly barley) and flavored with hops.
Increased disposable income and consumer preferences are leading to an increase in beer consumption across the globe.Malt ingredients give color, flavor, and foam to the beer, provide the sugars for fermentation, and contribute to the health aspect of the beer.
For instance, in 2021, according to the national beer sales and production data of the Brewers Association, a national organization that represents the interests of small and independent craft brewers in America, the overall sales of beer in the United States increased by 1% in 2021, while sales at craft breweries increased by 8%, bringing their volume share of the market to 13.1%. Therefore, increasing demand for beer is expected to boost demand for malt ingredients during the forecast period.
Strategic partnerships and joint ventures are a key trend in the malt ingredients market.Companies are entering into a partnership and collaborating with malt ingredients manufacturers to leverage each other’s resources and enter new markets.
In July 2022, County Malt Group, a US-based manufacturer and supplier of crafted beverage ingredients partnered with AB Biotek, a UK-based AB Biotek producer of yeast and integrated fermentation solutions. Through this partnership, Country Malt Group aims to provide yeast for distilled spirits producers in the American marketplace.
In December 2021, Invivo Grou, a France-based agriculture cooperative group for milling and malt production acquired Soufflet Group for an undisclosed amount.This acquisition aims to address the economic, social, and ecological difficulties faced in France’s agriculture sector by strengthening its position in agriculture and food transition by expanding the use of its solution.
The countries covered in the malt ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The malt ingredients market research report is one of a series of new reports that provides Malt ingredients market statistics, including malt ingredients industry global market size, regional shares, competitors with malt ingredients market share, detailed malt ingredients market segments, market trends and opportunities, and any further data you may need to thrive in the malt ingredients industry. This malt ingredients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
SOURCE: GlobeNewswire