Growing need to prepare various beverages and food products has led to an upsurge in demand for malt globally. In addition, increasing demand for confections and baked products is expected to impact growth of the global malt market positively. According to an ongoing research by Future Market Insights, the global malt market is expected to register a healthy growth over the forecast period, 2016-2026.
Factors Fuelling Growth of the Global Market
Growth of the global malt market is mainly bound to various micro-economic and macro-economic factors. Surge in demand for food and beverage products among the manufacturers is expected to impact growth of the global malt market positively. Growth of the global malt market will continue to gain momentum attributed to surge in demand for production of beer. Further, increasing production of breweries is expected to fuel demand for organic malt in the beverage industry. Moreover, growing need for preparing whiskey continues to rev up demand for malt among the food and beverage manufacturers globally.
Increasing consumption of various flavored beverages such as Milo and Horlicks will continue to impact growth of the global malt market during the forecast period. Along with flavored beverages, demand for malt will continue to increase for the production of various confections such as malt vinegar and malt shakes. Surge in consumption of baked goods such as malt loaf, rich tea and bagels is further likely to fuel sales of malt in the food and beverage industry. These factors are expected to impact growth of the global malt market positively.
On the other hand, various factors that are likely to restraint growth of the global malt market include increasing number of new players. The new players offer their products at a comparatively cheaper price in order to attract more customers. Bound to these factors, growth of the global market is expected to witness an inhibiting growth.
Segmentation Analysis: The global malt market is mainly segmented into application, source, type and brewers. Based on the type, the global market is segmented as malt flour, dry extract and liquid extract. In terms of application, the global malt market is segmented as food & beverages, pharmaceutical industry, whiskey distilleries and beer industry. By source, the global malt market is segmented as Rye, Wheat and Barley. Based on breweries, the global market is segmented as specialty malt, standard malt and base malt.
Regional Analysis: On the basis of region, the global market of malt is segmented into Eastern Europe, Western Europe, Latin America, North America, APEJ, Japan and MEA. Central and Western Europe remain a key market globally. North America among other regions will continue to represent a major market for malt in terms of consumption and production. The market in Botswana and Zimbabwe among other countries in Africa are expected to witness a promising growth during the forecast period. Australia, South Korea and China among other countries in APAC are expected to represent leading markets and will register fast growth in the upcoming years.
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