PUNE, India, November 11, 2016 /PRNewswire/ --
The report "Specialty Malt Market by Type (Roasted, Crystal, and Dark), Application (Brewing, Distilling, Non-alcoholic Malt Beverages, Bakery), Source (Barley, Wheat, and Rye), Form (Dry & Liquid), and Region - Global Forecast to 2022" published by MarketsandMarkets, the global Specialty Malt Market is projected to reach USD 3.01 Billion by 2022 in terms of value, at a CAGR of 5.0% from 2017.
Browse 88 market data tables and 44 figures spread through 134 pages and in-depth TOC on "Specialty Malt Market - Global Forecast to 2022"
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Specialty malts are widely accepted in food & beverage applications, mainly for brewing, owing to their functional properties. They play an important role in determining the desired attributes such as taste, mouthfeel, texture, appearance, and flavor in beverage applications. Flavored malts such as chocolate, coffee, and caramel have expanded the application areas of malt in the food industry, thus driving the overall market for specialty malt.
Roasted specialty malts projected to be the largest segment
Roasted malts, comprising of specialty malts such as Munich Malt, Vienna Malt, and Belgian malt varieties accounted for the largest market share in the Specialty Malt Market due to their wide range of applications in the beverage industry. Roasted malts have been used for brewing alcohol for centuries using traditional methods to derive varieties of beer.
Brewing: The most widely accepted use of specialty malt
The brewing application segment accounted for the largest share in the Specialty Malt Market, in terms of value, in 2016. The extensive requirement of flavored malt in beer brewing has been one of the key drivers of the Specialty Malt Market. With recent developments of independent breweries and the introduction of several craft beers, industrial manufacturers of specialty malt are compelled to optimize their yield and processing capabilities, to cater to the changing consumer tastes & preferences.
Asia-Pacific projected to be the most lucrative market for specialty malt
In 2016, the Asia-Pacific region accounted for a significant share of the global Specialty Malt Market and is projected to grow at the highest CAGR during the forecast period. The rise in population, per capita beer consumption, growing local breweries, increase in awareness of craft beers, buying power of population, and rapid growth in malting technologies have led to the growth in opportunities in the Asia-Pacific region for specialty malt.
The Specialty Malt Market report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Cargill, Inc. (U.S.), Malteurop Groupe (France), GrainCorp Ltd. (Australia), Soufflet Group (France), and Axereal Group (France).
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