The Specialty Malt Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Specialty Malt Global Market Report 2024, The specialty malt market size has grown strongly in recent years. It will grow from $3.46 billion in 2023 to $3.66 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to craft brewing revolution, consumer taste preferences, artisanal and small-scale production, rise of microbreweries, focus on regional and local ingredients.
The specialty malt market size is expected to see strong growth in the next few years. It will grow to $4.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to health-conscious consumer preferences, expansion of barley varieties, shift in consumer lifestyles, rising demand for organic malt, e-commerce expansion. Major trends in the forecast period include regulatory impact on labeling and production, diversity in malt profiles, innovative beer styles, health-conscious beverage choices, preference for unique and flavored beers.
Rising demand for craft beer is expected to propel the growth of the specialty malt market going forward. Craft beer is a type of beer produced by specialty breweries. They frequently operate independently and produce significantly less beer than large brewers. In the brewing process, malt is used to meet the carbohydrates required for fermentation and improve the mouthfeel of beer by lingering malt sweetness. Also, malt contains a wide range of nutrients, including silica and vitamin B, which are far more abundant in beer than in wine or any other spirits and are retained throughout the brewing process. Hence, the rising demand for craft beer will increase the demand for specialty malt. For instance, according to the Brewers Association, a US-based trade group of over 5,400 brewers, breweries in planning, suppliers, distributors, and craft beer retailers, in 2021, sales of beer in the United States as a whole increased by 1%, where the sales of beer by craft brewers increased by 8%, increasing their volume share of the market for beer to 13.1%. Therefore, the rising demand for craft beer is driving the demand for specialty malt market.
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The specialty malt market covered in this report is segmented –
1) By Product: Caramilised Malt, Roasted Malt, Other Products
2) By Source: Barley, Rye, Wheat
3) By Form: Dry Specialty Malts, Liquid Specialty Malts
4) By Application: Dairy and Frozen Products, Bakery and Confectionery, Alcoholic Beverages, Non-alcoholic Beverages, Other Applications
Major companies operating in the specialty malt market are innovating new products, such as the Manna Go Grains Malt to provide reliable services to customers. Manna Go Grains Malt is a health and nutrition drink for kids specially formulated to cater to the growth, immunity, and nutrition needs of children. 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 unique multigrain-based instant drink mix that delivers 33% RDA (Recommended Dietary Allowance) of 24 micronutrients necessary for delivering 5 benefits such as Physical growth, Mental development, Stamina, Stronger Bones, and Immunity. 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 specialty malt market report table of contents includes:
1. Executive Summary
2. Specialty Malt Market Characteristics
3. Specialty Malt Market Trends And Strategies
4. Specialty Malt Market – Macro Economic Scenario
5. Global Specialty Malt Market Size and Growth
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31. Global Specialty Malt Market Competitive Benchmarking
32. Global Specialty Malt Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Specialty Malt Market
34. Specialty Malt Market Future Outlook and Potential Analysis
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