Malt Extract Market Size Share Growth and Trends Value Forecast 2024-2031

Market Overview:

The global Malt Extract Market is projected to experience significant growth with a high compound annual growth rate (CAGR) during the forecast period from 2024 to 2031. Malts, which are germinated cereal grains processed through soaking, drying, and malting, are vital for producing enzymes that convert starch into sugars. These enzymes also develop peptides that break down proteins, facilitating yeast formation. The increasing use of malts in beverages and confectioneries is a major driver of the malt extract market, which is expected to see substantial growth.

Market Dynamics:

The malt extract market is primarily driven by the booming beer industry. Malt, predominantly produced from barley, is essential in producing malted vinegar and alcoholic beverages like beer and whiskey. The global consumption of alcohol, particularly beer, significantly boosts the malt extract market. With an average global alcohol consumption of 6.4 liters per individual above the age of 15 and a 70% growth in consumption since 1980, the beer market alone is valued at approximately USD 250 billion. Malt contributes to the flavor, texture, aroma, and alcohol content of beer, making it a crucial ingredient in the industry.

One of the significant challenges facing the malt extract market is the declining production of barley, especially in North America. Barley production has been decreasing in the U.S. and Canada, exacerbated by the COVID-19 pandemic, which led to price increases and reduced availability of wheat and barley. This shortage has spurred the search for alternative grains like rice, though these substitutes lack the same nutritional and fermentation qualities as barley and wheat, posing a restraint on market growth.

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Market Segmentation:

The market is segmented into dry malt extraction and liquid malt extraction. The dry malt segment is expected to grow at a significant CAGR due to its extensive applications. Dry malt, available as flakes, powder, and flour, is enriched with natural enzymes, making it a primary ingredient in bakery products. Its ability to enhance fermentation, air retention, and yeast production makes it popular in bakery and alcoholic beverage production. Malt flakes, rich in fiber, add texture to bread and rolls, contributing to the dry segment's anticipated dominance during the forecast period.
Barley remains the primary source of malt due to its high protein content and ease of malting, particularly in beer production. The extensive use of barley in brewing, coupled with rising awareness of the health benefits of barley-based beverages, supports the barley segment's growth. While other grains like wheat, rye, sorghum, and oats are also used, barley's traditional and nutritional advantages make it the most popular choice in the malt extract market.

Geographical Analysis:

The Asia-Pacific region is expected to dominate the global malt extract market, driven by high demand for alcoholic beverages and confectioneries. India, China, and Japan are leading consumers of alcoholic beverages, with significant volumes consumed annually. The region's robust production of confectioneries also contributes to the malt extract market's growth. According to the National Confectioneries Association of North America, Asia is the largest producer and supplier of confectioneries, with annual growth of 7.5% in volume.

Europe is expected to witness substantial growth with a significant CAGR during the forecast period. Increased awareness of healthy dietary habits, growing beer consumption, and a rise in craft breweries drive the region's malt extract market. The diverse applications of malts in food and non-alcoholic beverages further support market growth. Established and emerging players have opportunities to capitalize on the growing demand for malt extracts in this region.

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Competitive Landscape:

The malt extract market features several domestic and global players, primarily concentrated in North America and Europe. Key companies include:

Groupe Soufflet, Muntons PLC, Viking Malt, Diastatische Producten, Laihian Mallas, Rahr Corporation, Graincorp Limited, Malteurop Group, Malt Products Corporation, Holland Malt.

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