Overview and Scope
Malt refers to cereal grain that is kiln-dried after having been germinated by soaking in water and then dried in a hot oven. It is used in the brewing and distilling processes. The process of turning cereal grains, such as barley, into malt for use in food, beverages, or distillation is known as malting.
Sizing and Forecast
The malts market size has grown strongly in recent years. It will grow from $9.25 billion in 2023 to $10.09 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to craft brewing renaissance, beer industry growth, consumer preference for specialty and craft beers, changing dietary habits, globalization of beer market.
The malts market size is expected to see strong growth in the next few years. It will grow to $13.77 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rise in home brewing, health and wellness trends, sustainable and organic brewing practices, premiumization and specialty malt varieties, emergence of non-alcoholic and low-alcohol beverages. Major trends in the forecast period include demand for organic and non-gmo malts, innovation in malting techniques, focus on single origin and terroir-influenced malts, collaborations in malt development, diversification beyond brewing.
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Segmentation & Regional Insights
The malts market covered in this report is segmented –
1) By Type: Liquid Extract, Dry Extract, Malt Flour
2) By Source: Barley, Wheat, Rye
3) By Distribution Channel: Online, Offline
4) By Application: Beer Industry, Whisky Distilleries, Food and Beverages, Pharmaceutical
Asia-Pacific was the largest region in the malts market in 2023. The regions covered in the malts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing consumption of beer is expected to propel the malts market going forward. Beer is a type of carbonated alcoholic beverage that is brewed and fermented from cereals, typically malted barley, and given a bitter flavour by the addition of hops and other ingredients. Malt is a grain that has been specially prepared for brewing and is an indispensable ingredient for craft beer, so an increase in beer consumption will propel the malt market growth. For instance, in December 2022, according to the Global Beer Consumption Report for 2021 shared by Kirin Holdings Company Limited, a Japan-based integrated beverages company, about 185.60 million kiloliters of beer were consumed worldwide in 2021, a rise of 4.0% from the previous year. The total amount of beer consumed worldwide in 2021 increased by approximately 7.13 million kiloliters (equivalent to approximately 11.3 billion 633-ml bottles) from the previous year, reaching approximately 185.6 million kiloliters (up 4.0% from the previous year, or approximately 293.2 billion 633-ml bottle equivalent). Therefore, the increasing consumption of beer is driving the growth of the malts market.
Key Industry Players
Major companies operating in the malts are introducing malts that can be used by children for growth and immunity. For instance, in March 2021, Southern Health Foods Private Limited, an Indian-based company that provides food products company launched Manna Go Grains Malt. Manna Go Grains Malt is a health and nutrition drink designed specifically to meet children’s needs in terms of growth, immunity, and nutrition. It is a fast drink mix based on multigrains that provides 33% of the Recommended Dietary Allowance (RDA) of 24 micronutrients. These micronutrients are essential for giving five benefits, including immunity, mental and physical development, stamina, and stronger bones. it contains seven grains and fortified with essential vitamins and minerals. It is available in classic malt and chocolate flavors and is high in protein, carbohydrates, and dietary fiber.
The malts market report table of contents includes:
1. Executive Summary
2. Malts Market Characteristics
3. Malts Market Trends And Strategies
4. Malts Market – Macro Economic Scenario
5. Global Malts Market Size and Growth
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31. Global Malts Market Competitive Benchmarking
32. Global Malts Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Malts Market
34. Malts Market Future Outlook and Potential Analysis
35. Appendix
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