Global Malt Ingredient Market to Achieve USD 7.3 Billion Valuation by 2024, Growing at a 4.7% CAGR | TMR Study

The global malt ingredient market is poised for significant growth, driven primarily by the burgeoning confectionary business and the expanding food industry, particularly in the bakery sector. From 2016 to 2024, the market is projected to witness steady growth, fueled by increasing demand for cakes, pastries, and other baked goods that have become central to celebrations and events across the globe. As per Transparency Market Research, the market is set to grow at a compound annual growth rate (CAGR) of 4.7%, reaching a valuation of USD 7.3 billion by 2024.

This blog explores the factors driving this growth, the competitive landscape, market segmentation, and regional dynamics that define the global malt ingredient market.

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Market Drivers: Confectionary and Food Industry Expansion

The rising demand for confectionary products is a significant growth driver for the malt ingredient market. Cakes, cookies, and other sweet treats have gained popularity worldwide, making them integral to celebrations. Additionally, a surge in events and parties, where such products are in high demand, further fuels the market's expansion.

Moreover, the fast-food industry's consistent growth has bolstered the demand for malt-based ingredients. Products like pizzas and doughnuts are witnessing increasing popularity, driven by hectic work schedules and the rise of dual-income nuclear families. These socio-economic shifts, coupled with rising disposable incomes in regions like Asia Pacific, contribute significantly to the demand for bakery and confectionary products, thereby boosting the malt ingredient market.

Market Overview and Growth Projections

The global malt ingredient market is characterized by significant contributions from major players such as Malt Products Corporation, VIVESCIA Industries, Malteries Soufflet SAS, Cargill, Boortmalt Group, and Simpsons Malt Limited. These companies employ aggressive strategies, including entering new markets and forming key alliances through mergers, acquisitions, and partnerships. Such competitive strategies are expected to shape individual market shares and drive overall growth.

Segmentation Analysis

1. By Product Type
The malt ingredient market is segmented into:

• Dry Malt
• Liquid Malt
• Malt Flour

2. By Source
The primary sources include:

• Barley
• Wheat

3. By Application
Applications range across:

• Doughnuts
• Cakes and Pastries
• Cookies
• Brownies
• Biscuits
• Bread

4. By Grade

• Standard Grade
• Specialty Grade

Among these, doughnuts and pizzas are set to emerge as the top contributors, as the trend of fast foods continues to grow globally. This shift is further strengthened by the growing appeal of convenience foods in urban households.

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Regional Dynamics

North America: A Key Growth Region

North America is anticipated to lead the global malt ingredient market, owing to the high demand for bakery products like pizzas and cookies in the U.S. and Canada. This region's robust bakery and confectionary industry forms the backbone of its dominance.

Europe: Rising Demand for Confectionary Products

Europe follows closely, with a notable increase in demand for cookies, cakes, and doughnuts. Players in the region are expected to find significant growth opportunities due to evolving consumer preferences.

Asia Pacific: Untapped Potential

The Asia Pacific region offers immense growth potential, with rising disposable incomes and a growing middle-class population driving the demand for bakery and confectionary products. This trend is especially pronounced in countries like India and China.

Specialty Ingredients and Emerging Trends

Non-Alcoholic Malt Beverages

A surge in demand for non-alcoholic malt beverages among millennials is creating new growth avenues for specialty ingredient manufacturers. These beverages have gained popularity as health and wellness trends reshape consumer preferences. The market is witnessing a proliferation of innovative flavors and formulations, further enhancing its appeal.

Gluten-Free Products

Malt ingredients are increasingly being incorporated into gluten-free products, catering to the rising prevalence of gluten intolerance. The growing awareness of health benefits associated with such products is expected to attract a significant consumer base in the coming years.

Enhanced Nutritional Profiles

Marketing efforts emphasizing the nutritional value of malt-based products have resonated with health-conscious consumers. Extensive advertising campaigns have boosted awareness and acceptance, creating new opportunities for specialty ingredient manufacturers.

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