As per the report published by Kings Research, the global Specialty Malt Market was valued at USD 2674.2 Million in 2022. The market is projected to reach USD 4257.3 Million by 2030, growing at a CAGR of 6.14% from 2023 to 2030.
The non-alcoholic beverage industry is evolving, with malt drinks gaining popularity due to their association with a healthy lifestyle. As consumers become more conscious of natural and wellness products, the demand for malt drinks has been increasing. Consumers are seeking for a diverse range of high-quality drinks, and great-tasting options within the beverage segment. Although alcoholic beverage sales are expected to decline, non-alcoholic beverages, including malt drinks, are projected to grow during the forecasted period.
Key Insights
- Based on the form, the dry segment held the largest market share of 64.92% in 2022.
- Based on the source, the barley segment generated the highest revenue of 1488.23 USD Million in 2022.
- Based on type, the crystal segment generated the highest revenue of 1146.38 USD Million in 2022.
- Based on application, the brewing segment generated the highest revenue of 1830.08 USD Million in 2022.
- Based on flavor, the aromatic segment held the largest market share of 44.63% in 2022.
- On the basis of region, Asia Pacific accounted largest market share
Axereal's subsidiary, Boortmalt, to acquire the malt business of Cargill
Axereal's subsidiary, Boortmalt, has acquire the malt business of Cargill, a global food corporation. The transaction involved 15 facilities across four continents and over 500 employees. Axereal is a leading cooperative group in France that specializes in growing and processing cereals for the brewing, baking, and livestock industries.
Specialty Malt Market Growth Driven by Rise in Non-Alcoholic Malt Beverages despite Climate Change Challenge to Grain Production
The growing interest in non-alcoholic malt-flavored beverages has led the beverage industry to create innovative non-alcoholic, nutrient-enriched drinks with malt flavors, known as malt drinks. As a result, the demand for non-alcoholic malt beverages is expected to drive the growth of the specialty malt market in the foreseeable future.
- For Instance, European malting industry held 42% of global malt production and 60% of world malt trade and around 9.5 million tons of malt production with major producers being Germany, France, and UK.
Farmers worldwide are experiencing significant challenges due to the effects of climate change. Drought, heavy rainfall, and variable weather conditions are directly impacting grain growth, which is essential for malting. Barleycorn is an example of how climatic changes affect the brewing process. The warmer and increasingly unpredictable climate makes cultivating malt barley, a crop that requires specific growing conditions before being brewed into beer, more difficult. Geographically diverse factors such as hot and dry weather are known to compromise the quality of grain production used in specialty malting, presenting risks to the industry.
Asia Pacific Leads Global Beer Market with 33% Market Share and 7.96% CAGR, while Emerging Markets Showcase Opportunities for Specialty Malt Providers
The Asia Pacific has dominated the market share with 33.48% in 2022 and is expected to grow at a CAGR of 7.96% from 2023 -2030. Kirin Holdings Company reported that in 2020, global beer consumption was around 177.50 million kiloliters. Asia retained its position as the world's largest beer-consuming region for the 13th consecutive year, with a 31.2% share of the global beer market. Vietnam, India, Brazil, and China, among others, are significant emerging markets providing vast potential opportunities for specialty malt providers.
Major Players in the Market are Focusing on Collaborations and Acquisitions for Market Expansion
The market is consolidated with key players such as IREKS GmbH, Viking Malt, Agraria, Simpsons Malt, GrainCorp, Anheuser-Busch InBev, Barmalt, Milwaukee, WI, Imperial Malts Ltd., Bar Malt India Pvt. Ltd. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.