Segment Evaluation and Major Growth Areas in the Malted Milk Food Market

The malted milk food market is set to experience significant growth in the coming years, driven by rising health awareness and evolving consumer preferences. This sector is gaining attention as more people seek out functional and nutritious food options, creating exciting opportunities for producers and retailers alike. Let's explore the current market valuation forecasts, key players, emerging trends, and important market segments shaping this industry.

Expected Growth Trajectory of the Malted Milk Food Market
The malted milk food market is projected to grow steadily, reaching a valuation of $10.69 billion by 2030. This expansion reflects a compound annual growth rate (CAGR) of 7.4%. Factors propelling this growth include an increasing demand for functional dairy nutrition, a stronger consumer focus on immunity-boosting foods, the rapid growth of online grocery retail, continuous innovation in malt-based products, and a rising population of health-conscious buyers. Key trends set to influence the market during this period are the rising popularity of nutrient-fortified malted products, convenience-oriented nutrition options, increased usage in both child and elderly nutrition, the introduction of more flavored malted milk varieties, and heightened attention to product digestibility and shelf life.

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Major Players Dominating the Malted Milk Food Market
Several prominent companies lead the malted milk food market globally, including Nestle SA, GlaxoSmithKline plc, Briess Malt & Ingredients Inc., Imperial Malts Ltd., SSP Pvt Ltd., Abbott Laboratories, Danone S.A., Mead Johnson Nutrition Company, Kraft Heinz Company, Hain Celestial Group Inc., Honest Company Inc., Nature's One Inc., HiPP GmbH & Co. Vertrieb KG, Ausnutria Dairy Corporation Ltd., Synutra International Inc., Beingmate Baby & Child Food Co. Ltd., Inner Mongolia Yili Industrial Group Company Limited, Feihe International Inc., Biostime International Holdings Limited, Wissun International Group Co. Ltd., Otsuka Holdings Co. Ltd., Morinaga Milk Industry Co. Ltd., Yakult Honsha Co. Ltd., FrieslandCampina NV, Meiji Holdings Co. Ltd., Arla Foods amba, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Hero Group, and Bellamy's Organic Ltd.

Significant Acquisition Enhancing Market Presence
In July 2023, Richardson International Limited, a Canadian agribusiness firm, acquired Ragleth Ltd., a UK-based malted milk food manufacturer, for an undisclosed price. This acquisition aims to expand Richardson's footprint in the food manufacturing sector and accelerate its growth trajectory. Through this move, Anglia Maltings is positioned to explore new business avenues and secure access to novel ingredients, strengthening its supply chain and product offerings in the malted milk segment.

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Product Innovation as a Growth Catalyst in Malted Milk Foods
Leading companies in the malted milk food market are actively developing innovative products to capture consumer interest and boost revenues. One example is the Molto brand, which features a new range of canned foods, flavored milk, and malt-based items. Canned foods refer to products processed and preserved in airtight containers for convenience and shelf stability. Flavored milk is enriched with various taste enhancements, while malt-based foods are crafted from malted grains like barley and wheat.

For instance, in June 2023, Indian manufacturer Kwality Milk Foods Ltd. launched a new product line under the Molto brand called 'SONA,' targeting Southern Indian states. This range includes SONA Full Cream Milk and Standardized Milk, complementing their existing milk products sold under the Ananya brand. Besides malted milk foods, KMFL also produces a variety of dairy products such as buttermilk, curd, sweetened condensed milk, dairy whitener, and skimmed milk powder, broadening its portfolio.

Detailed Breakdown of Malted Milk Food Market Segments
The malted milk food market is categorized into several key segments for analysis:
1) By Source: Wheat, Barley, and Other Sources
2) By Product Type: Milk and Powder
3) By Packaging: Tins, Jars, Carton Packs, and Other Packaging Forms
4) By Distribution Channel: Hypermarkets and Supermarkets, Convenience Stores, Online Retailers, and Other Channels

Further sub-segmentation includes:
- Wheat-based products split into Wheat Malt Extract and Whole Wheat Malt Powder
- Barley-based products divided into Barley Malt Extract and Whole Barley Malt Powder
- Other sources encompassing grains such as Rye and Oats

This segmentation helps provide a comprehensive understanding of the market's diverse offerings and distribution pathways.

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This release was published on openPR.