Press release
Malt Ingredients Market Strategic Business Research Report by Analysis and Forecast to 2024
The global market for malt ingredients is closely aligned with the food and beverages industry, and hence the growth of the market largely relies on the latter. The conversion of cereal grains including wheat and barley into malt in order to use it for other processes such as distilling, food manufacturing, and brewing is called malting. The growth of the food industry has given an impetus to the global market for malt ingredients, and it is anticipated that a number of other industries would also become prominent consumers of malt due to its utility for various processes.
Malt gives a palatable color and taste to food products, which is the primary application of the former in the food industry. Moreover, malt also helps in providing a definite texture to the food products and facilitates the modification of food as well as beverages. A wide range of new products has been introduced in the food and beverages industry; many of these products are based on herbal and organic ingredients. This has also necessitated the use of malt for processing and modifying the food products, which has in turn given an impetus to the growth of the global malt ingredients market.
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The global market for malt ingredients can be segmented based on the following parameters: source of malt ingredients, type of malt ingredients, application, and region. It is vital to scrutinize each of these segments in order to understand the dynamics of the global malt ingredients market.
Global Malt Ingredients Market: Key Trends and Opportunities
The global market for malt ingredients is growing at the back of the rising population across the globe. The growth of the population has unquestionably put immense pressure on the food and beverages industry to speed up their manufacturing processes, which has in turn propelled demand for malt ingredients. Moreover, people have become aware of the health benefits served by malt, which has also popularised malt ingredients across the globe. Besides this, malt beer has lately made its way into the market, and the growing popularity of this beer is expected to give an impetus to market growth.
Global Malt Ingredients Market: Competitive Landscape
Some of the leading players in the global market for malt ingredients are Global Malt GmbH & Co. Kg, Muntons PLC, and Cargill Incorporated.
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Global Malt Ingredients Market: Regional Outlook
The uniform growth of the food and beverages industry across all of the key regional segments has benefitted the global market. In Europe, the demand for malt ingredients has reached new heights due to the strongholds of food processing units, breweries, and other food manufacturing sites. The escalating demand for alcoholic as well as non-alcoholic drinks across Asia Pacific and the Middle East and Africa is expected to fortify the regional markets.
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