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Malts Market Size, Share, Growth, Trends And Forecast 2033
Malts Market Size
As per the report, the malts market size has grown strongly in recent years. It will grow from $9.25 billion in 2023 to $10.09 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The malts market size is expected to see strong growth in the next few years. It will grow to $13.77 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
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Surging Beer Consumption Fuels Growth In The Malts Market
Increasing consumption of beer is expected to propel the malts market going forward. Beer is a type of carbonated alcoholic beverage that is brewed and fermented from cereals, typically malted barley, and given a bitter flavour by the addition of hops and other ingredients. Malt is a grain that has been specially prepared for brewing and is an indispensable ingredient for craft beer, so an increase in beer consumption will propel the malt market growth. For instance, in December 2022, according to the Global Beer Consumption Report for 2021 shared by Kirin Holdings Company Limited, a Japan-based integrated beverages company, about 185.60 million kiloliters of beer were consumed worldwide in 2021, a rise of 4.0% from the previous year. The total amount of beer consumed worldwide in 2021 increased by approximately 7.13 million kiloliters (equivalent to approximately 11.3 billion 633-ml bottles) from the previous year, reaching approximately 185.6 million kiloliters (up 4.0% from the previous year, or approximately 293.2 billion 633-ml bottle equivalent). Therefore, the increasing consumption of beer is driving the growth of the malts market.
Premium Alcohol-Free Malt Extract For Creative Brewing Solutions
Product innovations are a key trend gaining popularity in the malts market. Major companies operating in the malts market are focused on developing new innovative solutions to strengthen their position in the market. For instance, in May 2021, Muntons Malt Plc, a UK-based provider of brewing and distilling malts and malted ingredients, launched its premium alcohol-free malt extract. It is uniquely designed with the latest innovation by combining the heating and modifying of the wort sugars, which replicate the typical characteristics of the beer. It is an ideal, versatile base that allows brewers to build on and create an alcohol-free version of trademark brewing styles. It is made from 100% sustainable malt and is sourced from farms.
The malts market covered in this report is segmented -
1) By Type: Liquid Extract, Dry Extract, Malt Flour
2) By Source: Barley, Wheat, Rye
3) By Distribution Channel: Online, Offline
4) By Application: Beer Industry, Whisky Distilleries, Food and Beverages, Pharmaceutical
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Major companies operating in the malts market report are Crisp Malting Group Ltd., Muntons Malt Plc, Malteurop Group, Cargill Inc., GrainCorp Malt, Boortmalt, Heineken N.V., Rahr Corporation, Malt Products Corporation, Simpsons Malt Ltd., Viking Malt Group, Agraria San Francisco Inc., Pure Malt Products Ltd., Imperial Malts Ltd., Diastatische Producten BV, Nestle S.A., GlaxoSmithKline PLC, Briess Malt & Ingredients Co., King Arthur Flour Company Inc., Insta Foods, Full Sail Brewing Company, Family Cereal Sdn, IREKS GmbH, Weyermann Specialty Malts, Bairds Malt Limited, Great Western Malting Co., Soufflet Group, Axereal Group, Wilmar International Ltd., Thomas Fawcett & Sons Ltd. .
Contents of the report:
1. Executive Summary
2. Malts Market Report Structure
3. Malts Market Trends And Strategies
4. Malts Market - Macro Economic Scenario
5. Malts Market Size And Growth
…..
27. Malts Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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