Growth opportunities in the malt ingredients market look promising over the next six years. This is mainly due to the increasing awareness regarding the benefits of malt ingredients, the growing demand for different packaged foods, expanding use as a functional ingredient for the formulation of nutritional and confectionary drinks, and the rising health consciousness among consumers.
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Malt Ingredients Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Augmenting demand for different malt ingredients in the food & beverage industry, along with the growing awareness about the benefits of malt ingredients, are the prominent factors driving the global malt ingredients market. The rising significance of malt extracts as a functional ingredient for the conception of nutritional and confectionary drinks will further drive the global malt ingredients market’s growth. Moreover, the rising disposable income among consumers, coupled with the surging demand for different ready-to-eat and packaged products owing to the busy lifestyle of people, will further support the malt ingredients market share. The consumption of beer and other alcoholic beverages is anticipated to boost the global malt ingredients market over the forecast period. Also, the rising health concerns among consumers prompt them to opt for malt ingredients. On the other edge, the availability of substitutes at a lower price than the malt ingredients and variation in the price of raw materials may hinder the growth of the global malt ingredients market.
Raw Material Segment Drivers
Based on the Raw Material, the Barley segment is projected to lead the global malt ingredients market as it is majorly used in the malting process. The increasing awareness related to the health benefits such as the low risk of diabetes, hypertension, and diarrhea among consumers will fuel the demand of the segment. Furthermore, barley is largely used in the beverage industry because of the unique enzyme property, high starch content, and proteins. It is also used in the production of bakery and blended flour products. The surging use of barley in various applications will bolster the growth of the segment.
Regional Drivers
On the basis of region, Europe is predicted to dominate the global malt ingredients market owing to the substantial presence of bakery and brewery in countries like France, the U.K., Spain, Italy, Germany, and the Netherlands. Also, the emphasis on the production and processing of malt ingredients to improve the application base will further boost the growth of the malt ingredients market in this region. On the other hand, the Asia-Pacific region is anticipated to witness faster CAGR in the global malt ingredients market due to the expanding demand for packaged food and bakery products and the growing health awareness among consumers in this region.
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