As per Virtue Market Research, the market size of the specialty malt at the global level is expected to record a CAGR of 5.04%. The market is expected to grow from 3.85 billion in 2022 and is projected to reach USD 5.98 billion by 2030 throughout the foreseen period.
Specialty malts play a vital role in describing the texture and taste of craft beers. Malt is one major ingredient for preparing beer. Specialty malts are any malts rather than standard malt. These specialty malts are made by using the drying process.
Specialty malt is manufactured from germinated cereal grains, especially barley. These specialty malts contain vitamin B, fiber, minerals, and proteins. The extracts of specialty malts are used as nutritional supplements, particularly in health drinks. Specialty malt products are used in preparing varied food products like bakery products, dairy, and frozen food products.
Barley is the most popular for malting, though different grains are malted. Malt is packed stuff with vitamins, proteins, starch. Malt is the best source of energy for mental and physical activities. Malts are healthy and are rich in taste for sweets and high-calorie soft drinks.
Consuming beer in huge volume is increasing with the growing popularity of craft beer. The demand for beer is rising and motivates the utilization of specialty malt in local breweries along with the rise in the number of independent breweries. Advancing research and development activities achieving specialty meat and flexible functionality of the malt.
The growing knowledge in consumers fosters non-alcoholic sales and other beverages are bolstering the market demand. Increasing government investments with research and development activities by major key players, and advancing quality malt create a new chance in terms of revenue for the players.
The flourishing demand for domestic beer and craft beer increases the market demand. Consuming specialty malts is mounting the food and beverages sector. Population aged 16 to 28 is rising with growing production capacity, an accumulating number of restaurants uprise the market growth.
However, the fluctuations in the raw materials supply hinder the market growth. Also, the guidelines conducted by the government dampen the specialty malt market growth. The popularity of wine is increasing and the advent of local players providing low-cost products is hampering the market growth.
The global specialty malt market is based on the source, application, and form.
By source, the barley segment accounted for the extreme share in the specialty malt market. Barley segment is accounted to achieve momentous growth in the craft brewery industry thanking its characteristic flavor. The rye segment is scheduled to witness quick growth during the period.
The brewing application dominated the specialty malt market with the largest share during the foreseen period. The segment growth attributes to the growing number of independent breweries, the frequent requirement of flavored malt in beer brewing with the launch of immense craft beers.
Non-Alcoholic malt beverages are achieving tremendous momentum in the specialty malt market. The specialty malts play a major role in non-alcoholic beverages. These non-alcoholic beverages give the best flavor and color and texture of the drink.
The dry form of specialty malt is leading the market with more than half of the share and the segment is projected to retain its position throughout the period. The mounting beer consumption and the shelf life of the dry malt is a selected choice fostering market growth.
The liquid malt segment is anticipated to seize considerable growth over 2023 - 2030 due to the product's capacity used as a straight malt substitute or a brew extender. Liquid malt extract is a natural food component increasing the color, sweetness, and fragrance of a particular dish together improving its appearance, food value, and flavor savor.
Well-established market players and manufacturers are continuously increasing their investments for producing malts drives the market in North America.
The United States holds the highest share of more than 85.4% across the region. An increase in bakeries and food processing industries are booming the market growth in North America.
Europe has witnessed stout growth in the specialty malt market globally. The beer manufacturers are highly adopting specialty malts and the number of craft breweries is increasing which is progressing the market demand. Europe is slated to exhibit gainful opportunities because of the presence of a large consumer base and consumption of flavored beers and alcoholic drinks is high.
Asia-Pacific is slated to be the quickest-growing region worldwide. China and India are contributing major share towards the market growth. Mindful knowledge in the bakery item and beverages sector fosters the specialty malt market demand. China is the major market for barley.
India is the largest specialty malt-based health drink globally. In India, specialty malts are used in healthy drinks like Horlicks, Complan, Bournvita, and more.
Latin America is witnessing remarkable growth in the specialty malts market. The growing adoption of craft beer and social approval of beer consumption with increasing discretionary expenses drive the market growth in LATAM. Brazil has exhibited promising growth in the specialty malts market.
The Middle East and African region are assigned to have notable growth in the specialty malt market. In MEA, the non-alcoholic beverages segment is obtaining traction in the specialty malt market. Saudi Arabia, Iran, Egypt, UAE, Oman are the major markets for non-alcoholic beverages.
Key players included in the Specialty Malt Market
The COVID-19 impact has affected the food and beverages sector adversely. The imposed regional and national lockdowns have disturbed the production and supply chains. The effect on the beverages and liquor firms will be complicated which affects both the production and supply chains. The shutdown of many manufacturing industries resulted in a major impact on consumption in many sectors.
Specialty Malt Market - Forecast (2021 - 2026)
Chapter 1. Specialty Malt Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Specialty Malt Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2026) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2021 - 2026
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Specialty Malt Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Specialty Malt Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Specialty Malt Market - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Specialty Malt Market – By Source
Chapter 7 . Specialty Malt Market – By Application
7.3. Non-Alcoholic Malt Beverages
Chapter 8 . Specialty Malt Market – By Form
8.1. Liquid Speciality Malts
8.2. Dry Speciality Malts
Chapter 9. Specialty Malt Market , By Geography – Market Size, Forecast, Trends & Insights
9.1. North America
9.2.7. Rest of Europe
9.3. Asia Pacific
9.3.2. South Korea
9.3.5. Australia & New Zealand
9.3.6. Rest of Asia-Pacific
9.4. Rest of the World
9.4.1. Middle East
9.4.3. South America
Chapter 10. Specialty Malt Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
10.1. Company 1
10.2. Company 2
10.3. Company 3
10.4. Company 4
10.5. Company 5
10.6. Company 6
10.7. Company 7
10.8. Company 8
10.9. Company 9
10.10. Company 10
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