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Malt Ingredients Market to Expand at a Steady CAGR of 5% during 2019-2029 | FMI Reports

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

Related Press Release:

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