Barley Market: Growth Business Opportunities Research with Forecast Report By 2024

Barley is a versatile cereal grain having been consumed worldwide as a whole grain food and in variety of cuisines across the globe. The substantial consumer drive that the cereal grain has garnered is owing to the vast purported health-promoting benefits it offers such as in lowering cholesterol and promote intestinal health. Considered as a rich source of dietary fibers, vitamins, carbohydrates, and minerals such as manganese and selenium, barley has witnessed immense popularity in various food preparations. Its versatility to incorporate into various meals is also a factor stoking its popular demand among consumers world over.

Trends Underpinning Lucrativeness of Market

More recently, the demand for barley malts in foods and beverages industry has gathered steam. Of special significance is the usage of barley in making various types of beverages, particularly the use of barley malt in producing distilled beverages and as a key ingredient in beer brewing. Add to this, its usage in making natural sweeteners is what is adding to the lucrativeness of the market. The demand for barley is poised to rise at an attractive pace, according to projections by a business intelligence firm Transparency Market Research.

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Barley in recent times has emerged as a cost-effective animal feed substitute for wheat. According to the Agriculture and Horticulture Development Board (AHDB), a non-departmental public body in the U.K., in 2018 stated the consumption of barley has reached a peak in the country post 1990/1991.

Factors Substantial Momentum to Demand for Barley

Traditionally, the demand for barley has gathered momentum for its benefits in combating various diseases, including cardiovascular and chronic ones. In recent years, the barley market is witnessing sustained impetus from its substantial demand in making alcoholic beverages. The growth of the market is catalyzed by the rising thrust to adopt clean label trends by food manufacturers. Furthermore, the growing affinity toward natural food components in convenience foods is also having a positive bearing on the demand for barley in numerous developing and developed countries.

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Adverse Climatic Conditions affects Yields

However, barley yields are also adversely affected by declining soil fertility, pest infestation, and drastic climatic changes in major barley producing nations. This has taken a toll on the revenue of the barley market. For instance, meteorological conditions tend to influence grain yield and quality. Furthermore, there has been a decline in the consumption of alcoholic beverages in some parts of the world, owing to various health concerns among the populations. This is also impeding the demand for barley. Nevertheless, the market will get an attractive push from rising application of barley in food and beverages industry.

On the regional front, Australia has emerged as a prominent producing region of barley. France and Ukraine were also considered as a substantial exporter of barley. The major importing countries include Saudi Arabia, Kuwait, the United Arab Emirates, and Japan.

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This release was published on openPR.