Specialty Malt Market

Specialty Malt Market Growth and Forecast (2023-2028):

Specialty Malt Market Size was estimated at USD 2.36 billion in 2023 and is expected to reach over USD 3.01 billion by 2028 with a CAGR of 5.0% throughout the forecast period 2023-2028.

Specialty Malt Market Overview:

Malts come in two types, such as speciality malts and basic malts. Speciality malts have a diastatic power that gives beer and beverages a proper texture, color, flavor, and appearance. Basic malt also has the diastatic ability to convert its starch. They provide drinks and beer with unique taste and characteristics. Its functional properties make it ideal for brewing in the food and beverage industry. The primary raw material used to prepare unique malt is barley; the other raw materials used are corn, wheat, rice and rye. Toasted malts include Belgian malt, Munich malt and Vienna malt, and they are widely used in the full range of applications in the beverage industry. From the beginning, roasted malts have been used to make alcohol using traditional methods to produce varieties of beer.

Recent Developments in Specialty Malt Industry:

1. In May 2016, Viking Malt acquired Carlsberg's subsidiary Danish Malting Group A / S (DMG). Danish Malting Group (DMG) has three malt houses (one in Denmark and two in Poland) with a combined annual capacity of 220,000 tons.

2. In April 2015, Malteurop North America, one of the leading providers of premium malt for the brewing industry, today announced the launch of its new product brand, Craft Master Malt. The new range of high-quality specialty kiln-dried malts expands Malteurop North America's offering to meet the specific malt needs of craft brewers in North America.

REPORT COVERAGE:

Specialty Malt Market Drivers and Restraints:

The global speciality malt market is anticipated to experience significant growth during the forecast period. Malt is a sprouted cereal that has been dried and is an ancient process that has become a fascinating interplay of modern technology and chemistry in which the raw grain is converted into malt. Malt is mainly used for the production of beer or whiskey, but can nevertheless be used to make vinegar or malt extract. Malted, wheat, rye, barley, and sorghum are the varieties of grains. Malt grains develop the enzymes necessary for the transformation of grain starches into sugars.

Furthermore, there are also other established enzymes like protease that work primarily on protein cleavage to give a by-product that yeast can use. A series of stages are involved in malt; namely, soaking, germination and drying. The most crucial step is to dry or create exclusive malts. Specialty malts are all malts other than standard ales. They are mainly produced by manipulating the drying process. Speciality malts offer particular characteristics that make craft beer improve its features, such as more fabulous color and flavor, longer product life, better taste, more exceptional foam and retention foam and, ultimately, brewing performance. Factors driving the growth of the global specialty malt market include increased demand for craft beer, the growing number of independent breweries, improved R&D achievements for specialty malt and versatile malt functionality specialty. On the other hand, some factors hinder the growth of the world market, including government directives, as well as the increase and decrease in the supply of raw materials.

Specialty Malt Market Regional Analysis :

• North America

• Europe

• The Asia Pacific

• Latin America

• The Middle East and Africa

Among all the regions, North America dominates as the largest specialized malt market for consumption and product production, thanks to its mass production of products and its splendid sales and promotion facilities. Changing lifestyles and eating habits in the region should also encourage the healthy growth of products in the industry. The United States and Canada are the largest exporters of the product in the area. The increasing demand for non-alcoholic and alcoholic beverages will significantly stimulate market demand for specialty malt.

Europe is also anticipated to experience growth in demand due to its global presence in the beer and beverage industry. Countries such as France, Switzerland, Germany, Belgium, Italy and Russia are progressing to become regional leaders due to their high consumption of flavored beers and alcoholic beverages and the presence of a large clientele.

The Asia Pacific is foreseen to be the fastest-growing region in the world specialty malt market as some of the largest producers of specialty malts are established in the area. Emerging economies, including China, Japan, India, and Australia, are experiencing spectacular growth with high demands, particularly from local markets. Of these, India and China are expected to become leaders in the specialty malt market due to high disposable incomes and changes in the lifestyles of the masses. The growing youth population is also stimulating the consumption of beer and various beverages as they spend more and change taste buds frequently and, in turn, fuel demand for the specialty malt market in this region during the predicted period. Recently, the Middle East and Africa have seen rapid demand for soft drink consumption and this trend is expected to remain the same throughout the outlook period. The increased flavor and the availability of various characteristics in soft drinks are presumed to drive industry demand.

Detailed Segmentation and Sub-Segmentation of the Market:

Based on Source:

• Barley

• Wheat

• Rye

Based on Type:

• Roasted

• Crystal

• Dark

Based on Application:

• Non-alcoholic Malt Beverages

• Bakery

• Brewing

• Distilling

Based on Form:

• Dry

• Liquid

Impact of COVID-19 on Specialty Malt Market:

The Covid-19 pandemic has its effect on different end-user verticals, including food & beverages and all its associate's businesses like breweries. The lockdown implemented in several nations has resulted in the shutdown of manufacturing units and local breweries, affecting the overall revenue. The increased consumer preference for increasing immunity has kept them far from beer and other alcohols, deterring the specialty malts business expansion. The same trend is foreseen in the coming years as consumers choose nutrient and non-alcoholic beverages.

Key Players

Major Key Players in the Global Specialty Malt Market are

1. GrainCorp Ltd. (Australia)

2. Soufflet Group (France)

3. Axereal Group (France)

4. Viking Malt (Germany)

5. Cargill, Inc. (U.S.)

6. Malteurop Groupe (France)

7. Bar Malt India Pvt. Ltd. (India)

8. IREKS GmbH (Germany)

9. Simpsons Malt LTD. (U.K.)

10. Agromalte Agraria (Brazil)