Malt Ingredient Market Size Projected to Hit USD 7.3 Billion, Growing at 4.7% CAGR by 2024

Market Overview

The global malt ingredient market has experienced significant growth over the period 2016-2024, driven by increasing demand in various food and beverage industries. Malt, derived primarily from barley, wheat, and other grains, is widely used for brewing beer, distilling spirits, and in bakery and confectionery products. Malt ingredients are essential in enhancing the flavor, texture, and nutritional value of products, which has led to its rising prominence across multiple industry verticals.

Market Size and Growth

The global malt ingredient market was valued at approximately USD 17.6 billion in 2016 and was expected to grow at a compound annual growth rate (CAGR) of 5.5% through 2024, reaching a projected market value of USD 25.7 billion by 2024. The growth can be attributed to the increasing demand for craft beers, the expanding use of malt ingredients in bakery and food products, and the rise in health-conscious consumers seeking nutritious food options.

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Market Segmentation

By Service Type:

Dry Malt: Used extensively in bakeries and brewing for its longer shelf life and ease of storage.

Liquid Malt: Preferred in beverage industries, especially for its enhanced flavor and quicker fermentation process.

By Sourcing Type:

Barley: Dominates the malt ingredient market due to its high starch content and suitability for brewing and baking.

Wheat, Rye, and Oats: Gaining traction in specific applications, particularly for health-conscious food production.

By Application:

Brewing (Beer and Spirits): The largest segment due to the ever-increasing popularity of beer and craft brewing globally.

Food & Bakery: Demand for malt in baked goods, cereals, and confectionery has grown as consumers seek enhanced flavors and nutritional benefits.

Animal Feed: Malt's nutritional properties make it a valuable ingredient in animal feed.

By Industry Vertical:
Food & Beverage: The predominant sector, driven by demand for high-quality malt in alcoholic and non-alcoholic drinks.
Pharmaceuticals: Malt's use as a binding agent and natural sweetener has led to its inclusion in this segment.
Others: Includes cosmetics and personal care, where malt is used for its antioxidant and moisturizing properties.

By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

Regional Analysis

Europe: The largest market for malt ingredients, driven by a well-established beer brewing industry, particularly in countries like Germany, Belgium, and the UK.
North America: The demand for malt ingredients has grown significantly due to the boom in craft brewing in the US and Canada. The region is expected to experience steady growth during the forecast period.
Asia-Pacific: Rapid urbanization, increasing disposable income, and the rising consumption of alcoholic beverages have propelled the growth of the malt ingredient market in this region, particularly in China and India.
Latin America & Middle East & Africa: These regions are witnessing moderate growth due to the increasing adoption of malt in bakery products and the brewing industry.

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Market Drivers and Challenges

Market Drivers

Growing Craft Beer Industry: The rise in the craft beer movement, especially in North America and Europe, has led to increased demand for high-quality malt ingredients.
Health Consciousness: Consumers are increasingly opting for malt-based food and beverages due to their natural and nutritious properties, such as high fiber and antioxidant content.
Diverse Applications: The versatility of malt ingredients across food, beverage, pharmaceutical, and animal feed sectors supports the market's growth.

Market Challenges

Raw Material Prices: Fluctuations in barley and other raw material prices pose a challenge for malt ingredient manufacturers, impacting production costs.
Climate Change Impact: Weather conditions affect barley yield, leading to supply chain disruptions and affecting the overall market.
Regulatory Issues: The alcohol sector, where malt is predominantly used, faces stringent regulations, especially in countries with alcohol restrictions.

Market Trends

Increasing Demand for Gluten-Free Products: With a rise in gluten intolerance and celiac disease cases, there is growing demand for gluten-free malt ingredients made from sorghum and other grains.
Innovation in Brewing: Breweries are experimenting with different malt flavors, such as chocolate malt, to create unique craft beers.
Organic Malt Ingredients: Consumer preference for organic food and beverages is driving the demand for organic malt ingredients, particularly in the premium beer segment.

Future Outlook

The malt ingredient market is expected to continue growing over the forecast period, driven by the expansion of the craft beer industry, innovative uses in food and beverage applications, and the growing health-conscious consumer base. Asia-Pacific and Latin America are expected to emerge as key markets due to increasing disposable income and changing lifestyle patterns.

Competitive Landscape

The malt ingredient market is characterized by a mix of large multinational companies and smaller regional players. Key players in the market include:

Cargill, Inc.: A global leader in providing high-quality malt ingredients for food and beverage applications.
Malteurop Group: Specializes in the production of malt for the brewing industry.
GrainCorp Malt: One of the largest malt producers, supplying malt for brewing and distilling.
Muntons PLC: Focuses on specialty malt products for bakery and beverage industries.
Boortmalt: A major player with a focus on innovative malt solutions for global markets.

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