Specialty Malt Market Is Forecasted To Reach US$ 4 Billion By 2033

The global specialty malt market has achieved a valuation of US$ 2.2 billion in 2023 and is anticipated to witness a robust expansion at a healthy compound annual growth rate (CAGR) of 6.1% over the next decade. Projections indicate that the worldwide demand for specialty malt is poised to reach a market revenue of US$ 4 billion by the end of 2033.

Specialty malt, steeped in unique ways to accentuate specific desired flavors, plays a pivotal role in various industries. The burgeoning demand for both alcoholic and non-alcoholic beverages on a global scale is expected to serve as a significant driver for the increasing demand for specialty malt in the foreseeable future.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
https://www.factmr.com/connectus/sample?flag=S&rep_id=4817

Particularly, the utilization of specialty malts in craft beers, which have experienced a surge in popularity in recent years, is projected to profoundly influence market growth in the coming years. Additionally, the evolving consumer preferences, high per capita disposable income levels, the establishment of new microbreweries, and the growing consumption of alternatives to traditional beer are among the key factors poised to positively impact the demand for specialty malt over the next decade.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐓𝐫𝐞𝐧𝐝𝐬:

Craft Beer Revolution: The craft beer industry's rapid expansion has been a major driver of growth in the specialty malt market. Craft brewers utilize specialty malts to create unique and distinctive flavors, catering to the evolving preferences of consumers seeking premium and artisanal beer experiences.

Diversification of Beverage Industry: Beyond craft beer, specialty malts are increasingly finding applications in a wide range of alcoholic and non-alcoholic beverages. From spirits and ciders to flavored malt beverages and kombucha, beverage producers are leveraging specialty malts to differentiate their products and appeal to niche markets.

Health and Wellness Trends: Consumer demand for healthier and natural ingredients is influencing the specialty malt market. Malt extracts derived from specialty malts are perceived as more natural alternatives to refined sugars and artificial sweeteners, driving their adoption in health-conscious products such as functional beverages and sports drinks.

Rising Demand for Flavored and Functional Beverages: The growing popularity of flavored and functional beverages is fueling demand for specialty malts. These malts are used to impart unique flavors, colors, and nutritional profiles to beverages, meeting the diverse preferences of consumers seeking innovative and value-added products.

Expansion in Emerging Markets: Emerging economies, particularly in Asia-Pacific and Latin America, are witnessing a surge in demand for specialty malt products. Rapid urbanization, rising disposable incomes, and changing consumer lifestyles are driving the adoption of premium beverages, driving market growth in these regions.

Innovation in Brewing Techniques: Advancements in brewing technology and techniques are expanding the possibilities for specialty malt utilization. From novel malting processes to innovative brewing methods, brewers are experimenting with new approaches to extract unique flavors and characteristics from specialty malts, driving innovation and differentiation in the market.

Sustainability and Traceability: Increasing consumer awareness about sustainability and ethical sourcing is prompting manufacturers to focus on sustainability initiatives in malt production. Practices such as organic farming, fair trade sourcing, and transparent supply chains are becoming increasingly important in the specialty malt market, as consumers seek products with environmental and social responsibility credentials.

𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐏𝐫𝐨𝐟𝐢𝐥𝐞𝐝

• IREKS Gmbh
• Groupe Soufflet
• Malteurop
• Axereal
• Baird's
• Patagonia
• Briess Malt & Ingredients Company
• Viking Malt Oy
• Simpsons Malt Limited
• Cargill Inc.
• Weyermann
• Barmalt India Pvt Ltd.
• GrainCorp Ltd.
• Cooperative Agraria Agroindustrial

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Prime specialty malt providers are penning agreements to acquire and collaborate with other companies to expand their business scope and hasten product research and development.

• In November 2021, Murphy & Rude Malting Company collaborated with Three Notch'd Brewing Co. as one of its many specialty malt suppliers. The move was aimed at utilizing more Virginia-grown malted grain.
• In November 2019, Boormalt Group, a subsidiary of Axereal, announced the completion of its acquisition of Cargill's malt business. The company took over 16 malt houses and 27 malting plants through this acquisition and increased its share in the global competitive landscape by a handsome margin.
Established specialty malt companies are also focusing on expanding their production capacity by investing in improving their manufacturing facilities.
• In August 2020, Briess Malt & Ingredients Company, a renowned malt manufacturer based in the United States, completed its US$ 17 million expansion project at its Manitowoc facility. Most of the malting operations of the company were expected to take place at this facility and other facilities were expected to be phased out in the future.

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬 𝐨𝐟 𝐒𝐩𝐞𝐜𝐢𝐚𝐥𝐭𝐲 𝐌𝐚𝐥𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

• By Product Type :
o Caramelized Malt
o Roasted Malt

• By Source :
o Barley
o Wheat
o Rye
o Others

• By Extract :
o Dry
o Liquid
o Malt Flours

• By Application :
o Individual
o Institutional
o Promotional

• By Region :
o North America
o Latin America
o Europe
o APAC
o MEA

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞: https://www.factmr.com/report/4817/specialty-malt-market

𝐌𝐨𝐫𝐞 𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭:

Organic Foods & Beverages Market: https://www.factmr.com/report/organic-foods-and-beverages-market

Non-Alcoholic Beer Market: https://www.factmr.com/report/4473/non-alcoholic-beer-market

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