CHICAGO, March 10, 2020 /PRNewswire/ -- According to the new market research report "Malt Extracts and Ingredients Market by Product (Extracts and Ingredients), Source (Soy, Wheat, and Rye), Grade (Standard malt and Specialty malt), Application (Beverages, Food, and Pharmaceuticals), Form (Dry and Liquid), Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Malt Extracts And Ingredients Market size is projected to reach USD 20.4 billion by 2025, from USD 17.6 billion in 2020, recording a CAGR of 3.0% during the forecast period. The increasing production of craft beer, along with the adoption of malt-based food, is projected to drive industry growth during the forecast period.
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The ingredients segment, by product, is projected to dominate the malt extracts and ingredients market due to their increasing use in beer production
Malt ingredients are mainly used for beer production. They are also preferred for the production of whiskey. Thus, the increase in the consumption of alcohol is expected to the market for malt ingredients during the forecast period. Ingredients are also available in both powdered and flaked forms. The high shelf life of powdered ingredients is also a driving factor, as manufacturers find them easy to distribute in remote areas. Furthermore, the rising popularity of various artisanal and craft beers is further propelling market growth.
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118 – Tables
47 – Figures
173 – Pages
Demand for specialty malt, by grade, to remain high during the forecast period
The market for specialty malt is projected to grow at the highest CAGR during the forecast period. This is owing to the high preference of specialty malt for food, pharmaceutical, pet food, and personal care products applications. There is a variety of standard malts in the market; these include crystal, roasted, dark, and specially kilned.
The barley segment is projected to dominate the malt extracts and ingredients market, owing to its high adoption for beer production
Barley, as a source of malt extracts and ingredients, dominates the market, owing to its high preference for beer production. Barley is one of the most popular and traditional sources for malt ingredients due to its high protein content and ease of malting. This is due to the extensive use of barley in the beer industry and the rising awareness of consumers about the health benefits of barley-based beverages.
The dry segment is estimated to dominate the malt extracts and ingredients market due to its increasing consumption by food manufacturers
The dry segment, by form, is projected to dominate the global malt extracts and ingredients market during the forecast period. Owing to its high popularity and other properties offered, which include high shelf life and ease of handling. Dry malt is produced by heating liquid malt and spraying it from the atomizer in the heated chamber. When the moisture content is removed from the malt, the remaining crystalline form is called dry malt. The increase in demand for the dry form is due to its increased use in bakery and confectionery.
The use of malt extracts and ingredients in food applications to remain high during the forecast period
The food application segment is projected to grow at the highest CAGR during the forecast period, owing to the high preference of malts as a natural sweetener. They are mainly used in baked goods, bread, cookies, bagels, rolls, pretzels, pizza crusts, biscuits, crackers, and several snacks. Apart from bakery, they are also used in the confectionery sector for the preparation of malted milk balls, chocolates, and candies.
Malt ingredients are also used in the manufacturing of mixes of several food options, such as waffles, sauces, pancakes, soups, gravies, muffins and cakes, breakfast cereals, baby food, granola, popcorn, energy bars, ice cream cones, baked beans, table syrups, toppings, yogurt, frozen foods, and peanut butter.
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With the increasing demand for craft beer, Asia Pacific is estimated to dominate the malt extracts and ingredients market in 2020
The changing lifestyle and increasing buying power of consumers have increased the demand for malt extracts and ingredients. The growth of the region is owing to the increasing production of craft beer and the rising acceptance of convenience foods among consumers due to their hectic lifestyles. Also, the inclination of the millennial population toward natural food additives and natural sweeteners drives the Asia Pacific malt-based food market, which, in turn, is driving the demand for global malt extracts and ingredients. In recent years, the rise in innovation in various applications has increased the market's horizon. This factor is also expected to propel the market growth.
This report includes a study of the development strategies adopted by the leading companies. The scope of this report consists of a detailed study of malt extract and ingredient manufacturers, such as Groupe Soufflet (France), Muntons PLC (US), Viking Malt (Finland), Diastatische Producten (The Netherlands), Laihian Mallas (Finland), Rahr corporations (US), Graincorp Limited (Australia), Malteurop Group (France), Maltexco (Chile), Malt products (US), and Holland Malt (Netherlands).
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