According to a new study by FMI,
sales of malt ingredients is expected to record a value of ~US$ 21 Bn in 2019,
driven by increasing demand from food and beverage, pharmaceuticals, and
personal care industries. In the food industry, it is used in many products such
as bakery products, confectioneries, dairy & frozen food, and pet food,
while in beverages, malt ingredients are used in brewing & distilling of
non-alcoholic beverages and other healthy drinks.
Growing trend of adopting natural
ingredients in food and beverage industry is directly impacting the demand for
malt ingredients. They are associated with number of properties such as, rich
in natural sugar constituents, a good source of fibre, low in fat, complex
carbohydrate, more vitamins and protein, making them an ideal food and beverage
ingredient.
On the account of multiple
beneficial properties, the demand for malt ingredients is also rising in
pharmaceutical industry, for use in medicines and nutraceuticals. A recently
published report reveals that the global malt ingredients market is projected
to reflect a CAGR of ~5% over the forecast period of 2019-2029.
Gains Underpinned by Increasing
Popularity of Malternatives
Malternatives are gaining
significant traction as a substitute of beer, which contain malt alcohol in low
proportion mixed with other types of alcohol. Wide acceptance of malternatives
among the young and urban consumers is likely to complement the growth of the
malt ingredients market. Hard lemonade, malt-based coolers, and a new breed of
spirits are growing at a rapid rate, potentially raising the demand for malt
ingredients.
- Bacardi silver is positioned as the only malternative
with the flavor of rum and the product was launched with a full scale TV,
radio, and print media campaigns.
- Key producers of malternatives include Anheuser-Busch
Inc., Arizona Beverage Company LLC, Brown-Forman Corporation, Bacardi
U.S.A. Inc., Molson Coors Brewing Company, and Cruzan Rum Distillery.
Factors Fueling the Malt Ingredients
Market Growth
Non-alcoholic brews and malt bases
of soft drinks are gaining popularity in Central Europe and the Middle East.
Malt based beverages are alcohol-free and hence, are exactly lined up with
halal regulations. This, in turn, is creating relatively high demand for malt
ingredients, especially in Islamic and GCC countries, thereby contributing to
the market growth.
Although the demand for malt
ingredient-based products continue to move on an upward spiral, fewer number of
market players are unable to meet the growing demand in the current scenario.
This, in turn, is likely to generate opportunity for new players to enter into
the market and serve large segment of the consumers.
Malt is produced from the barley
grains in a process called malting, and is used in the production of beer. Malt
ingredients work as a source of starch, contributing to beer's organoleptic and
color characteristics. These ingredients also play an important role in
preserving the oxidative stability of beer as the natural source of
antioxidants. Growing awareness of these beneficial effects among consumers is
likely to fuel the growth of the malt ingredients market.
During the process of malting and
brewing of grains for the production of malt ingredients, the leftover
by-products are utilized to feed animals. As it consists carbohydrate
(Cellulose and hemicellulose) and protein even after the removal of sugar
during brewing process. The utilization of by-product in animal feed industry
is likely to work to the advantage of the malt ingredients market players.
This study by FMI offers insights
into the malt ingredients market for the forecast period of 2019-2029. The malt
ingredients market is projected to record a CAGR of ~5% during the predefined
timeframe.
Press Release
Source: https://www.globenewswire.com/news-release/2019/10/10/1928107/0/en/Malt-Ingredients-Market-is-expected-to-grow-at-a-CAGR-of-5-during-the-forecast-period-of-2019-to-2029-Future-Market-Insights.html
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market
intelligence and consulting services, serving clients in over 150 countries.
FMI is headquartered in London, the global financial capital, and has delivery
centers in the U.S. and India. FMI’s largest market research reports and
industry analysis help businesses navigate challenges and take critical
decisions with confidence and clarity amidst breakneck competition.
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