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Malt Extracts And Ingredients Market Size, Share, Growth, Overview, Analysis, Forecast To 2033
Malt Extracts And Ingredients Market Size
As per the report, the malt extracts and ingredients market size has grown strongly in recent years. It will grow from $19.38 billion in 2023 to $20.5 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The malt extracts and ingredients market size is expected to see steady growth in the next few years. It will grow to $24.91 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
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The Surging Demand For Malt Extracts And Ingredients In The Craft Beer Boom
The growing popularity of craft beer is expected to propel the growth of the malt extracts and ingredients market going forward. Craft beer refers to a beer that is made by small, independent breweries using traditional brewing methods and high-quality ingredients. Malt extract is a key ingredient in beer and is widely used by many craft brewers to speed up brewing. For instance, in 2022, according to the Brewers Association, a US-based trade group and national organization that represents the interests of small and independent craft brewers in America, retail sales of craft beer climbed by 5% from 2021 to $28.4 billion. Craft beer accounted for around 24.6% of the total beer market. The number of craft brewers in the United States has increased by 3.7% from 9,210 in 2021 to 9,552. As a result, the growing popularity of craft beer is driving the growth malt extracts and ingredients market.
The Impact Of Product Innovations On Malt Extracts And Ingredients
Product innovations are a key trend gaining popularity in the malt extracts and ingredients market. Major companies operating in the market are introducing innovative products to sustain their position in the market. For instance, in May 2021, International Molasses, a leading US-based supplier of molasses and natural sweeteners, unveiled CaneRite Panela, a natural, free-flowing powder sweetener crafted from the freshly squeezed juice of the entire sugar cane plant; distinct from traditional ""raw sugar"" products, CaneRite Panela remains unrefined and non-centrifuged, preserving the authentic flavor and nutritional benefits of the entire cane plant, characterized by subtle toffee and caramel notes, offering a ""sweet but not overly sweet"" taste, and boasting an impressive nutritional profile with five times the vitamins and minerals of raw sugar.
The malt extracts and ingredients market covered in this report is segmented -
1) By Product: Extracts, Ingredients
2) By Source: Barley, Wheat, Rye and Rice, Oats, Sorghum, Millets, Corn
3) By Form: Dry, Liquid
4) By Product Type: Diastatic, Non-Diastatic, Brewery-Grade
5) By Application: Beverages, Food, Pharmaceuticals, Other Applications
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Major companies operating in the malt extracts and ingredients market report are Muntons plc, Viking Malt AB, Diastatische Producten B.V., Laihian Mallas Oy, Rahr Corporation, Malteurop Group, Maltexco S.A., Malt Products Corp., Holland Malt B.V., Boortmalt N.V., Imperial Malts Ltd., Agraria Malte Ltd., Puremalt Products Ltd., EDME Ltd., United Malt Group Limited, GrainCorp Limited, Axéréal Group, Soufflet Group, Crisp Malting Group Limited, IREKS GmbH, Simpsons Malt Ltd., Cargill Incorporated, Briess Malt & Ingredients Co., Weyermann Malting Company, Thomas Fawcett & Sons Ltd., Mouterij Dingemans, Castle Malting SA, Bestmalz, Global Malt GmbH & Co. KG
Contents of the report:
1. Executive Summary
2. Malt Extracts And Ingredients Market Report Structure
3. Malt Extracts And Ingredients Market Trends And Strategies
4. Malt Extracts And Ingredients Market - Macro Economic Scenario
5. Malt Extracts And Ingredients Market Size And Growth
…..
27. Malt Extracts And Ingredients Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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