An Analysis of the Specialty Malt Market: Trends, Applications, and Forecasts 2022-2032
The specialty malt market was valued at USD 2,800 million in 2022, and it is predicted to increase at a CAGR of 3.6% from 2022 – to 2032, attaining a market value of USD 3988 million. Among the sources of specialty malt, barley is by far the most common grain used in malting for a range of applications.
Specialty malt is used on a large scale in a number of important food and beverage businesses. In the brewing of beer and the creation of malt-based beverages, specialty malt plays a crucial role. It’s widely used in alcoholic beverages as a flavouring and colouring agent, and it’s in high demand. The primary driver of specialty malt market growth is increased use of malt-based alcoholic and non-alcoholic beverages. Furthermore, increased consumption of malt-based beverages in developing markets such as India and China has fuelled growth.
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- The specialty malt market was valued at USD 2,800 million in 2021, and it is predicted to increase at a CAGR of 3.6 percent from 2021 to 2032, reaching a market value of USD 3988 million.
- Specialty malt is used on a large scale in a variety of key food and beverage businesses. In the brewing of beer and the creation of malt-based beverages, specialty malt plays a crucial role.
- The Specialty Malt market is predicted to be worth USD 191 million, with a 22 percent market share.
- China grew at a spectacular 6.9% compound annual growth rate (CAGR). China has a market value of USD 307 million and a market share of 32% in the specialty malt.
- With a market share of 65 percent, the U.S is one of the world’s largest marketplaces for malt beverages, with a total market value of USD 691.6 million.
“Changing taste and preference and inclination towards alcoholic beverage made of specialty malt is likely to boost the growth of specialty malt market. There are many application other than being used as a major component in alcoholic beverage like application of maltose as sweeteners in various food industries to replace sugar which is better option for consumer who are health conscious,” says a lead analyst at Future Market Insights.
The distribution network is a challenge for specialty malt producers. The most significant concern is the squeeze on manufacturers’ profit margins, as retail retailers deliver products with reduced profitability even when no reductions are offered. At the same time, retailers are increasing their demands for more frequent delivery from local producers in order to cut their warehousing costs. Malts are commonly used in distilleries to make spirits, whiskey, and other alcoholic beverages. The increasing usage of malt in brewers and distilleries, together with the expanding demand for flavoured whiskeys around the world, is driving the rise of the alcoholic drinks market.
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Future Market Insights, in its new report, offers an unbiased analysis of the global Specialty Malt market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Segmentation of Specialty Malt Market
- Non-Alcoholic Malt beverages
- Dry Specialty Malts
- Liquid Specialty Malts
- North America
- Latin America
- East Asia
- South Asia
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