Market Size of Malt Ingredient Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 2.98 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Malt Ingredients Market Analysis
The malt ingredient market is projected to register a CAGR of 2.98% during the forecast period.
- The global malt ingredients market is experiencing significant growth due to several factors. Firstly, the market is being driven by the rising demand for plant-based ingredients and natural sweeteners, as well as the growing demand for versatile and sustainable ingredients among brewers. Malt is a healthy alternative to traditional sweeteners, improves color, and enhances the taste and texture of food and beverage products, making it a popular choice among food and beverage manufacturers.
- The increasing demand for alcoholic beverages, such as whiskey, beer, vodka, scotch, and non-alcoholic beverages, is another factor contributing to the growth of the global malt ingredients market. Consumers are increasingly seeking distinctive and flavorful beers, which is further pushing the growth of malt ingredients in the beer industry. The demand for the craft brewing and distilling industries has experienced significant growth during the past few years, which signifies the vast expansion of the global malt ingredient market.
- The demand for low-alcoholic beverages has also been rising with the growing interest of health-conscious consumers. Key players in the market are offering a wider choice of new product ranges, with improved taste and low alcoholic content in beer for those of 2.8% ABV and less. This drives the demand for malt ingredients among beer manufacturers. Many local brewers are offering local, sustainable, innovative, and handcrafted beers to customers.
- Millennials prefer ethnic premium, super-premium spirits, and flavored spirits, which include craft and artisanal varieties. An increasing number of consumers are looking for new and more exciting offerings compared to their usual spirit options, pushing up the revenue generation of malt ingredients among alcoholic beverage manufacturers.
- The market is also benefiting from the growing number of breweries. According to the Brewers of Europe, the number of breweries in the European Union increased from 9,206 in 2020 to 9,436 in 2021. Overall, the global malt ingredients market is poised for robust growth due to several factors, including the rising demand for plant-based ingredients, growing demand for versatile and sustainable ingredients among brewers, increasing demand for low-alcoholic beverages, and the growing number of breweries.
