Global Malt Extracts And Ingredients Market Size 2024, Forecast To 2033
6 Mar, 2024
The malt extracts and ingredients market size has shown strong growth, increasing from $19.38 billion in 2023 to $20.5 billion in 2024, with a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period is attributed to traditional brewing use, industrial and food applications, diverse product offerings, shift in consumer preferences, evolving culinary and beverage trends, and quality and consistency improvements. Forecasts indicate steady growth in the next few years, reaching $24.91 billion in 2028, with a CAGR of 5.0%. This growth is driven by market expansion and growth, consumer health awareness, product innovation and diversification, shift in dietary preferences, and globalization and trade dynamics. Major trends in the forecast period include health and wellness trends, diverse applications, clean label products, innovation in flavors and varieties, and sustainability and sourcing practices.
Global Malt Extracts And Ingredients Market Key Driver
The growing popularity of craft beer is expected to propel the growth of the malt extracts and ingredients market going forward. Craft beer refers to a beer that is made by small, independent breweries using traditional brewing methods and high-quality ingredients. Malt extract is a key ingredient in beer and is widely used by many craft brewers to speed up brewing. For instance, in 2022, according to the Brewers Association, a US-based trade group and national organization that represents the interests of small and independent craft brewers in America, retail sales of craft beer climbed by 5% from 2021 to $28.4 billion. Craft beer accounted for around 24.6% of the total beer market. The number of craft brewers in the United States has increased by 3.7% from 9,210 in 2021 to 9,552. As a result, the growing popularity of craft beer is driving the growth malt extracts and ingredients market. The market size of the malt extracts and ingredients market in 2023 was [insert 2023 market size], and it is projected to reach [insert 2024 market size] by 2024 and [insert 2028 market size] by 2028.
Get A Free Sample Of The Global Malt Extracts And Ingredients Market ReportGlobal Malt Extracts And Ingredients Market Segments
The malt extracts and ingredients market covered in this report is segmented –
1) By Product: Extracts, Ingredients
2) By Source: Barley, Wheat, Rye and Rice, Oats, Sorghum, Millets, Corn
3) By Form: Dry, Liquid
4) By Product Type: Diastatic, Non-Diastatic, Brewery-Grade
5) By Application: Beverages, Food, Pharmaceuticals, Other Applications
By Geography:The regions covered in the malt extracts and ingredients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Europe was the largest region in the malt extracts and ingredients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global malt extracts and ingredients market duirng the forecast period. The regions covered in the malt extracts and ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Malt Extracts And Ingredients Industry Players
Muntons plc, Viking Malt AB, Diastatische Producten B.V., Laihian Mallas Oy, Rahr Corporation, Malteurop Group, Maltexco S.A., Malt Products Corp., Holland Malt B.V., Boortmalt N.V., Imperial Malts Ltd., Agraria Malte Ltd., Puremalt Products Ltd., Cerex B.V., EDME Ltd., United Malt Group Limited, GrainCorp Limited, Axéréal Group, Soufflet Group, Crisp Malting Group Limited, IREKS GmbH, Simpsons Malt Ltd., Cargill Incorporated, Briess Malt & Ingredients Co., Weyermann Malting Company, Thomas Fawcett & Sons Ltd., Mouterij Dingemans, Castle Malting SA, Bestmalz, Global Malt GmbH & Co. KG
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Malt Extracts And Ingredients Market Overview
Malt extract refers to a concentrated syrup made from malted grains, whereas ingredients refer to other ingredients used in brewing such as hops, yeast, water, and various grains. These are used as fermentable sugar sources in brewing beer and other fermented beverages. It can also be used as a flavoring and coloring agent in food products such as bread, cereals, and baked goods.
Malt Extracts And Ingredients Global Market Report 2023 provides data on the global malt extracts and ingredients market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The malt extracts and ingredients market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.