Malt Extracts Market Growing at a CAGR of 5.6% from 2019 to 2027 | Leading companies United Malt Group, GroupeSoufflet, MuntonsMaltexco S.A, Malteurop Group

The global malt extracts market is expected to reach US$ 1,321.66 million by 2027 from US$ 815.79 million in 2018; it is estimated to grow at a CAGR of 5.6% from 2019 to 2027. The scope of this study involves understanding the factors contributing to the growth of the market; it also includes estimating and forecasting the revenues, conducting the market share analysis, and spotting significant market players along with their key developments.

The craft beer market nearly holds 15% market share of the total beer market. The increasing number of beer drinkers and their shifting preferences towards craft beer for its unique taste is driving the demand for malt extracts beer. An increasing number of lounges, breweries, and bars is also boosting the growth of craft beer. The growing popularity of craft beer with exotic flavors is gaining traction among Gen Y and Gen X population.

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The beverages segment accounted for the largest share of the global malt extracts market, by application, in 2018. Malt extract is majorly used in the manufacturing of alcoholic beverages such as beer and whiskey. It is used to add a distinct flavor to products. Often, they are used in craft beer varieties by small scale or home-based breweries to cut down on cost and deliver a superior product. Malt extract is rich in antioxidants, vitamins, minerals, and amino acids, and thus, it is used as a base for non-alcoholic beverages such as malted milk and sports drink, non-alcoholic beers, and soft and energy drinks.

Maltexco S.A, Malteurop Group, IreksGmbh, Malt Products Corporation, United Malt Group, GroupeSoufflet, Muntons Plc, Boortmalt N.V., Holland Malt, and Rahr Corporation are among the well-established players present in the global malt extracts market.

Malt extract is derived from sprouted grains and is used as a substitute for honey as well as sugar needed to feed yeast in bakery foodstuffs. Malt can also decrease the need for additional artificial sweeteners in bakery products and can be labeled as sugar-free. Similarly, as diastatic malt is rich in enzymes and vitamins, it upsurges the nutritional value of baked products and also assists in extending the shelf life of baked products. For instance, malted barley extract substitutes the sugar required for feeding yeast at a ratio of 3:4 in bakery and confectionery products; thus, 12 oz of malted barley extract replaces 16 oz of sugar.

Malt-based beverages offer unique flavor profiles as well as subtle sweetness; however, unlike cane sugar, high-fructose corn syrups, and artificial sweeteners, the extracts contain an abundance of antioxidants (five times the quantities present in the equal quantity of broccoli) along with essential amino acids, vitamins, minerals, and soluble fibers. Malt-based beverages are popular, along with non-alcoholic beer, among athletes. In the US, often unique flavors are added to malt-based beverages, for extra sweetness and fruity notes to prepare drinks such as as-Dark & light malt beverages, specialty beers; weizen, IPA, stout, etc., pilsner, radlers, ciders, and soft & energy drinks.

For instance, Malteurop extended its Australian malt house in Geelong in 2018 and at the Albacete plant in Spain in 2019. For pursuing its international growth strategy, the company announced the construction of a new plant in Mexico in 2019, which will be commissioned in 2021. In 2019, Groupe Soufflet opened a new roaster in St Petersburg to mark the 20th anniversary of its malting plant. This facility would produce special malts (coloured and caramel) for the Russian market, along with Pilsen malts and wheat malts, and it would gradually increase its production capacity to 5,000 tonnes per year.

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