Malt Ingredient Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global malt ingredient market is projected to register a CAGR of 2.98%, during the forecast period 2020 - 2025.
The demand for the craft brewing and distilling industries have experienced significant growth during the past few years. Consumers across the world are seeking distinctive and flavorful beers, which is pushing the market for malt ingredients in the beer market space. Moreover, the increasing development of microbreweries and the growing production of craft beer have led to the growing demand for specialty malts. As per the data revealed by the Brewers Association, craft breweries witnessed double-digit growth till 2017 in the United States, and the number of small, independent breweries, microbreweries, and brewpubs increased to 7,346 in 2018.
Until the middle ages, nearly every type of malt grain was used for brewing in Germany. Among all, the most popular raw malt ingredient used is barley, followed by wheat, in the breweries. The country is emphasizing on the production and processing of malt ingredients to enhance its application base. To promote a healthy environment in terms of raw materials, institutes like the Institutes for Brewing Technology in Berlin and Weihenstephan support breeding, cultivation, and processing that provides the superlative prerequisites for the production of quality malting barley.
Furthermore, Malteurop Group is an international group that anticipates the constantly evolving needs of the manufacturers by research and innovation by developing new barley varieties, new growing itineraries, new malts, and new growing areas for malting barley.
The global malt ingredients market is highly fragmented with various regional and global companies holding involved in the market. The increasing applications of malt is attracting more players to enter into the market. Brewing industry is the major area of application of malt ingredients. Players are also expanding their ingredient sources to enter into new applications. Some of the major players are Muntons PLC, Vivescia (Malteurope), GrainCorp Limited, Axereal, and Briess Malt & Ingredients among others.