Specialty Malt Market value to reach $4.8 billion by 2026, with a CAGR of 4.7%

The specialty malt market size was valued at $3.3 billion in 2018 and is projected to reach $4.8 billion by 2026, growing at a CAGR of 4.7% from 2019 to 2026. Europe is one of the prominent regions in the market that accounted for approximately half of the total specialty malt market share in 2018.

The consumption of flavored beverages has been growing exponentially throughout the years and as a result the demand for specialty malt has also grown as it is an essential ingredient used while making such beverages.

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Specialty malt has large-scale application in the food industry, which is mainly attributed to its key functional properties. Specialty malt has been considered as the most preferred natural flavoring or coloring agent in various food processing sectors such as processing of baked goods, bars, cereal, cookies, crackers, granola, gravies, roux, prepared food, pet food, snack food, and others. Apart from the food industry, specialty malt has been incurring high demand from the craft brewing industry. For instance, carapils, one of the types of specialty malt, is primarily used to improve head retention and add a sweet character to beer.

Increasing consumption of malt based alcoholic and non-alcoholic products and high demand for malt-based drinks in emerging countries have been Considering the large scale applications of specialty malt in the food and beverages industry, the malt has been witnessing high demand in the global market.

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Europe and North America were the prominent markets in 2018 and accounted for the maximum share in the global specialty market. Asia-Pacific is expected to witness robust specialty malt market growth throughout the forecast period. Major players in the specialty malt market focused on business expansion to improve their stance in the global market and overcome competition.

Some of the key players operating in the global specialty malt industry are Cargill Inc., Malteurop Groupe, GrainCorp Ltd., Soufflet Group, Barrett Burston Malting Company Wa Pty Ltd., Rahr Corporation, Simpsons Malt, Crisp Malting, Muntons PLC, and Axereal Group.

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