Malt is mainly manufactured from barley. However, wheat, rye, sorghum, and oats these are also some of the sources of malt. Barley is the most famous and traditional sources for malt ingredients because of its high-protein content and ease of malting. Malt ingredients are mainly utilized for beer production. Moreover, they are also preferred for the production of whiskey. Thus, the rise in the consumption of alcohol is expected to the market for malt ingredients during the forecast period. furthermore, ingredients are also available in both powdered as well as flaked forms. The high shelf life of powdered ingredients is also one of the driving factors as manufacturers find them easy to distribute in remote areas. Malt ingredients are also used in the manufacturing of mixes of several food options, such as waffles, sauces, pancakes, breakfast cereals, soups, gravies, muffins and cakes, ice cream cones, baked beans, table syrups, toppings, yogurt, frozen foods, and peanut butter.
Global Malt Extracts and Ingredients Market: Key Players
The research study includes profiles of leading companies operating in the global malt extracts and ingredients market. Key players profiled in the report include: GrainCorp, Malteurop, Rahr Corporation, Boortmalt, Groupe Soufflet, Maltproducts, Holland Malt, Maltexco, Barmalt, IREKS, Muntons PLC, Simpsons, Viking Malt, Agraria, Puremalt, Cerex, Diastatische Producten, and Laihian Mallas.
Drivers for the Global Malt Extracts and Ingredients Market:
According to current market situation, the use of malt in the beer industry is expected to be a potential driver for the market and is growing the market at a fast rate. Its widespread use in the food industry is another impetus for the growth of this market. Rising health consciousness among consumers in major regions has been the key factor contributing to growth in the market. Also, growing demands for organic food and increasing awareness regarding nutritious benefits of malt is expected to drive the market for global malt extracts and ingredients market.
Opportunities for the Global Malt Extracts and Ingredients Market:
Since the past few years, an increase in the awareness pertaining to the health benefits of malts and their use in various food and beverage applications has increased. These factors have opened various opportunities for this region in the malt extracts and ingredients market. Also, use of different types of malt extracts in food products is seen as an opportunity for the global malt extracts and ingredients market.
Restrains for the Global Malt Extracts and Ingredients Market:
In spite of growing at a high rate and having a tremendous scope of expansion, the malt and malt extract market faces a substantial constraint in terms of raw material prices. Due to the increasing demand for malt from the food and beverage sector, major producers of malt export the material causing a hike in prices of the raw material for importers as well as local users. Apart from that, the growing popularity of wine and other beverages acts as a hindrance in the growth of this market, as this would reduce the consumption of beer.
Region Wise, Global Malt Extracts and Ingredients Market Analysis:
On the basis of region global malt extracts and ingredients market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all Asia Pacific lead the global malt extracts and ingredients market due to the high population and increase in the purchasing capacity have enabled consumers to invest in luxury foods. The rise in recreational activities has increased the market for beer production, which is the primary application of malt extracts and ingredients. Moreover, the growth of the market can also be attributed to the various uses of malt-based foods such as bread, cookies, and confectionaries. Asia pacific region is followed by North America and Europe.
Global Malt Extracts and Ingredients Market: Product analysis
Global Malt Extracts and Ingredients Market: Application analysis
- Others (pet food and personal care products)
Global Malt Extracts and Ingredients Market: Source analysis
- Others (rice, oats, sorghum, millets, and corn)
Global Malt Extracts and Ingredients Market: Form analysis
Global Malt Extracts and Ingredients Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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