Specialty Malt Market, Applications Share, Trends & Forecast from 2017 to 2024

Specialty Malt Market: Forecasts, Analysis, Overview
and Trends: - Global Market Insights Inc.
Specialty Malt Market share is dominated to grow in demand due to its wide
applications in food and beverage industry. It is also driven by brewing industries due
to functional properties of the product. They play a vital role in shaping desired
characteristics including texture, taste, flavour and appearance in beverage
applications. Product demand is expected to grow steadily in the projected timeframe.
Growing need for independent breweries, enhancement of technologies and research
facilities, increasing requirement for crafted beer and multi-functionality of the product
will impetus the specialty malt market growth.
It is generally used in preparing brewing beer, whisky, vinegar, milk shakes, chocolate
(Whoppers), flavoured milk (Milo, Horlicks), and in some bakery products including
bagels, rich tea biscuits and loaf which will upsurge specialty malt market. Sweet
meals and flavoured breads made from the product further strengthens the industry
growth. Some of the flavoured products including coffee, chocolate, and caramel has
expanded industry share in food and beverage industry, in turn pushing the specialty
malt market. Ready to drink beverages and increased consumption of household beer
will also fuel industry size.
It is a germinated grain prepared from a specialised process, by soaking it in water for
germination and further sprouting the grain by drying it with hot air. Barley is the most
common used grain to prepare the product, along with wheat, corn, rice and rye. The
principle use of the product is in making brewing beer, whisky, and other beverages.
Specialty malt market is segmented based on its type into roasted, dark, and crystal.
Roasted segment is expected to showcase high demand growth as it is extensively
used in brewing processes. It is used in preparing brewed alcohol from centuries using
conventional methods to drive different kinds of beer.
On the basis of applications, specialty malt market is segmented into distilling,
brewing, bakery, and non-alcoholic beverages. Increased consumption of beer and
growing number of independent breweries manufacturing their own customized beers
is projected to significantly drive the product demand over the forecasted period.
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North America dominates as the largest specialty malt market for both consumption
and production of the product owning to its massive product production and splendid
sales & promotion facilities. Change in lifestyle and food patterns in the region is also
expected to propel healthy product growth in the industry. The U.S. and Canada are
the largest exporter of the product in the region. Rising demand of non-alcoholic and
alcoholic beverages will substantially drive the specialty malt market demand.
Europe is also anticipated to growth in demand due to its global presence in brewing
and beverage industry. Countries including France, Switzerland, Germany, Belgium,
Italy, and Russia are progressing to come up as leading regional players due to their
high consumption of flavoured beers and alcoholic drinks and presence of large
customer base.
Asia-Pacific is expected to be the fastest growing region in the global specialty malt
market as some of the top most producers of specialty malts are established in the
region. Emerging economies including China, Japan, India, and Australia are
magnificently growing with high demands especially from the local markets. Among
these, India and China are projected as the specialty malt market leaders owing to
high disposable income and changing lifestyle trends of the masses. Increase in
population of youngsters is also boosting the consumption of beer and several
beverages as they spend more and frequently change their taste buds and in turn
fuelling the demand of the specialty malt market in this region over the forecasted
period.
Recently, Middle East & Africa have observed a rapid demand in consumption of nonalcoholic
beverages and this trend is anticipated to continue during the forecasted
period. Enhanced taste and availability of variety of flavours in non-alcoholic
beverages is expected to propel the industry demand.
Global specialty malt market is concentrated in nature due to the presence of large
industry players which take up maximum industry share. Some of the key industry
players include Axereal, Agraria, Cargill, Bavaria Brewery, Bairds, Graincorp, Ireks,
Soufflet. Other prominent players are Crisp Melting, Heineken, Muntons Craft Brewing
and Weyermann.
In 2016, Bavaria Brewery acquired the U.S. based Belgian customized beer importer,
Latis Imports to increase its global presence in the specialty malt market. With this
strategy, the company capitalized the advancing U.S. beer industry.
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