The Asia Pacific Malt Extracts and Ingredients Market size was worth USD xx billion in 2022, and it is foreseen that it will reach USD xx billion by 2028 at a notable CAGR during the forecast period. As awareness of the benefits of malt increases, it has been used in the food industry as an additive, flavor, color and ingredient.
Malt Extracts and Ingredients are made from malt grains, usually barley or wheat and other grains. Barley is used in the must, as it increases the ability to process easily, creates a cascade of natural enzymes that are used for further processing, and converts the starch (flour) to sugars, proteins, and amino acids. All of this is nutritious when used in brewing, distillation, or food manufacturing processes. Malt can also be used to produce other foods. Malt content is a nutritious ingredient in foods and beverages low in fat, fiber, carbohydrates, protein, vitamins and natural sugar ingredients.
The high consumption of this ingredient in the food industry is supporting the expansion in the Asia Pacific Malt Extracts and Ingredients market.
The APAC market is dominated by the growing demand for craft beers and natural sweeteners. The surge in craft beer production, which is promoted by the adoption of malt-based foods is expected to drive this business growth during the calculated period. Malt Extracts and Ingredients are mainly used for beer production. They are also preferred for the production of whiskey. Therefore, an increase in alcohol consumption is expected to push the Asia Pacific Malt Extracts and Ingredients during the outlook period. The ingredients are also available in powder and flake form. The high shelf life of powdered ingredients is the driving force that manufacturers can easily distribute to remote areas. Also, as the popularity of various craft beers and craft beers increases, the growth of the market accelerates. The special malt market is expected to grow to the highest CAGR during the projected period. This is because malt is preferred for food, pharmaceutical, pet food and personal care applications. There are several standard malts on the market. These include crystals, baked, dark, and especially furnaces. The malt is produced mainly from barley. The global organic food market has been growing rapidly in recent years. Increased health awareness among consumers in major regions has been a key factor contributing to market growth. As the demand for organic food increases and awareness of the nutritional benefits of malt increases, it is expected to lead the market in the malt and malt extract markets. Although the malt extract markets are growing rapidly and have a wide range of expansion, they face significant limitations in terms of raw material prices. As demand for malt increases in the food and beverage sector, major malt producers export materials to increase raw material prices for local importers and users. The demand for malt extracts and ingredients has increased due to lifestyle changes and increased purchasing power of consumers. The region's growth occurs as craft beer production and consumer acceptance of prepared foods increases due to the busy lifestyle.
In addition, millennial generation's propensity for natural food additives and natural sweeteners leads the Asia Pacific malt-based food market, resulting in increasing demand for malt extracts and ingredients. In recent years, as innovations have increased in a variety of applications, this market witnessed growth. Increased consumption of alcoholic beer and alcoholic beverages worldwide is a major driver of growth in the malt ingredient business. Also, the increased demand for alcohol in developing countries due to increased disposable incomes and changes in consumption patterns is another factor supporting the growth of Asia Pacific Malt Extracts and Ingredients markets. Moreover, the increasing demand for malt ingredients in bakeries and confectioneries to impart color and flavor to finished products is another factor that is expected to further support growth in the target market. Some of the crucial factors driving the market growth are increased demand for homebrew and natural sweeteners, increased adoption of malt extracts and ingredients in the food and beverage industry, and increased alcohol consumption. Increased alcohol consumption is supposed to be fuel the malt ingredients market during the forecast period. The high shelf life of powdered ingredients is the driving force that manufacturers can easily distribute to remote areas. Also, as the popularity of various craft beers and craft beers increases, the growth of the Asia Pacific Malt Extracts and Ingredients market accelerates. Growth in R&D activities and investments by major players and innovative products offered by new players are expected to create new opportunities in terms of player revenue in the market, which is expected to support the growth of the target market during the estimated period.
Strict government regulations regarding the import of these products are key factors that are expected to hinder to some extent the growth of the APAC malt ingredients market. The increasing popularity of wine and other beverages will also hinder the growth of Asia Pacific Malt Extracts and Ingredients market as beer consumption will decrease.
As the demand for alcohol increases, the Asia Pacific market is expected to witness faster growth. The Asia Pacific market uses large amounts of malt ingredients. Above all, barley malt is widely used in alcohol-based beverages. Barley is a common and popular staple grain in many Asian countries, surpassing only wheat, corn, and rice. India, the largest whiskey market, consumes thousands of tons of barley malt for liquor production. In these scenarios, regulation of malt ingredient prices is expected to accelerate market growth in the near future. India intends to import 1 million tons of Australian barley annually, which is expected to lower alcohol prices in response to growing demand. Beer, whiskey, and scented alcoholic beverages benefit from transaction costs, and ultimately lowering production costs will increase your profits.
Key Players in the Market:
Major Key Players in the APAC Malt Extracts and Ingredients Market are
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