Press release
Global Specialty Malt Market: Rise in Demand for Crafted Beer and Bakery Items to Create New Revenue Streams for Players, Says TMR
According to the research report, the escalating demand for brewed items, crafted beer, non-alcoholic beverages, distilling items, and bakery products in both, the developed and the emerging economies, are creating beneficial opportunities for the growth of the worldwide market for specialty malt. Crafted beer, especially, is drawing a lot of demand, which is likely to boost this market substantially in the years to come. The changing lifestyles of consumers, influenced by the expansion in the retail sector is also projected to propel this market over the forecast period.
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On the other hand, the implementation of various stringent laws and regulations by the governments on the sale and purchase of beverages and the instabilities in the availability of raw material may restrict the growth of this market in the near future, states the research report.
In this research report, the global specialty malt market has been evaluated on the basis of the type, application, source, and the region. Based on the type, the market has been classified into roasted, crystal, and dark. By application, brewing, baking, and distilling have been considered as the main segment of this market. Source-wise the market has been categorized into barley, rye, and wheat in this report.
In terms of the region, the report has classified the worldwide market for specialty malt into Europe, the Middle East and Africa, Asia Pacific, Latin America, and North America. Thanks to the increasing demand for specialty malt in emerging economies, such as China and India, Asia Pacific is anticipated to emerge as the key contributor to the global market in the years to come. The rising interest of consumers towards bakery items and beverages is also projected to boost the Asia Pacific market for specialty malt over the forecast period.
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Europe is also expected to witness an increase in the demand for specialty malt in the near future, retaining its second position in this market. Among other regional markets, Latin America, driven by the augmenting demand in Brazil, is likely to present lucrative opportunities for growth to market participants. The increasing trend of urbanization will also support the market for specialty malts in this region over the forthcoming years.
Cargill Inc., GrainCorp Ltd., Malteurop Groupe, Soufflet Group, Bairds Malt Ltd., Axereal Group, Crisp Melting Group Ltd., Simpsons Malt Ltd., Muntons Malt Ltd., Heineken International are some of the key vendors of specialty malts across the world mentioned in this research report. These players are focusing aggressively on product innovation to suit the local taste and preferences and to provide their consumers with healthier options, notes the market study.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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