This market research study presents a detailed analysis of the global malt ingredients market by source (barley malt, wheat malt, and rye malt), by type (dry malt extracts, liquid malt extracts, and malt flour), and by application (alcoholic beverage, non-alcoholic beverages, food, and pharmaceutical and animal feed). This report segments the market by geography (APAC, Europe, North America, and ROW). The key vendors are Boortmalt, Cargill, GrainCorp, Malteurop Group, and Soufflet Group.
Technavio’s market research analysts estimate the global malt ingredients market to grow at a CAGR of 6% between 2016 and 2020. Rise in consumer spending on alcohol is accelerating the demand for malt ingredients, as these determine the formulation of the beverages. Of late, major demand for malt ingredients is coming from the food and beverage sector especially cereals, baked food, infant food, confections, pet food, and related products. The increase in demand for locally alcoholic beverages, such as craft beer will bolster the growth prospects of the malt ingredients market in coming years. Europe accounts for 47% of the total market share, owing to the growing demand for alcoholic beverages.
The new market research report from Technavio provides a breakdown and analysis of the malt ingredients segments by technology.
“The demand for malt beverages and ready-to-drink (RTD) beverages is expected to increase, especially from American millennials. This has pushed vendors to increase their R&D spending to develop new flavors to cater to this demand. For instance, the successful innovation of Bud Light Lime-a-Rita flavored beer has encouraged manufacturers to introduce other flavors like mango and berries. The manufacturers are also focusing on the strong cultural influences specific to countries. Moreover, global brands also offer customized offerings to cater to the local tastes,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research
The alcoholic beverages segment is the largest market segment in the global malt ingredient market and is expected to value at more than USD 19 billion by 2020. Malt is the key ingredient in alcoholic beverages and is used in the production of beer and whisky. The increasing consumption of alcohol around the world is likely to fuel this growth of this market segment in the coming years.
The key players in the global malt ingredients market include Boortmalt, Cargill, GrainCorp, Malteurop Group, and Soufflet Group. The market is highly fragmented and is characterized by the presence of large and small vendors. The market is highly competitive, with all players competing to gain a greater market share. Intense competition and frequent changes in consumer preferences constitute significant risks for vendors. These vendors compete on the basis of numerous factors such as price, quality, product differentiation, distribution, and promotion. Vendor performance in the global malt ingredients market may be impacted by the changing consumer spending pattern and preferences due to the increase in disposable incomes and changing lifestyles.
A more detailed analysis is available in the Technavio report, Global Malt Ingredients Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Whiskey Market 2016-2020
- Global Alcohol Ingredients Market 2016-2020
- Global Alcoholic Drinks Market 2016-2020
- Alcoholic Beverage Market in the US 2016-2020
Further reading:
Global Focus on Health and Wellness is Driving Sales of Bioactive Ingredients
