The specialty malt market is expected at USD 2,615.9 Million in 2020 and is projected to reach USD 3,950.7 Million by 2028, at a CAGR of 5.4% from 2020. Malting is that the process of converting barley or other cereal grains into malt for application in brewing, distilling, or in foods and takes place in malting, sometimes called a malt house.
Malt extract is often utilized in the brewing of beer. Its production begins by sprouting barley grain in an exceedingly method referred to as malting, immersing barley in water to support the grain to sprout, then drying the barley to halt the progress when the sprouting begins. The drying step stops the sprouting, but the enzymes remain active thanks to the low temperatures utilized in base malt production. Specialty malts are any malts other than the standard malt. They are formed by managing the method of drying. Specialty malts present exclusive features that give craft beer with enhanced features like refined taste, enhanced color and flavor, the increased shelf life of a product, r increase in foam and foam retention, and eventually the brewing performance. Sweet meals and breads are made from the specialty malt is expected to strengthen the market growth. Some of the flavored products including chocolates, coffee, and caramel has extended industry growth in food and beverage industry, in turn accelerating the specialty malt market. Ready to drink beverages and increased consumption of household beer will also fuel industry size.
In order to increase the R&D segment within the specialty malt sector, Eurofins purchased a number one agricultural testing laboratory, Galys Laboratories, from Axereal and Terrena in 2020. Axereal and Terrena have an agreement with Eurofins Group (Europe) concerning the sale of Galys Laboratories.
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Further key findings from the Specialty malt report suggest
- By product, the Caramelized Malt section is that the foremost prominent segment and was estimated to account within the world specialty malt market in terms of both value and volume. The roasted Malt segment is anticipated to exhibit a healthy CAGR within the forecast period.
- Asia-Pacific region growing at a remarkable CAGR 6.9% during the analysis period. Some top producers of specialty malt include Japan, India, China, and Australia. Growth within the Asia-Pacific region is predicted to develop at an accelerated pace, which is particularly related to rapid urbanization and availability of cheap labor, especially in China; this can be often anticipated to boost the marketplace for malted beer. Europe is anticipated to exhibit steady growth for the consumption of beer within the approaching years. North America and geographic areas accounted for a cumulative share within the malt market.
- Non-alcoholic beverages are gaining momentum in the market, particularly in the regions of Middle East. Non-alcoholic beers are brews with an alcohol level volume of less than 0.5%. Specialty malts play an important role in these beverages as they provide a distinct flavor along with the texture and color of the drink. They are also gaining traction owing to the rising health-conscious consumers as an option for sugary drinks.
- The brewing segment is estimated to account for the largest share in the specialty malt market. The major factor contributing to the growth of the brewing segment for specialty malts is the growing popularity and demand for craft beer across the globe. Roasted malt, being the most popular flavored malt used for brewing, dominates the market for specialty malts. The ease of availability of a variety of roasted malts such as Vienna malt, Munich malt, and Belgian malt for craft beers is another driving factor for the specialty malts market.
- Key participants in the specialty malt market are the malt manufacturers, suppliers, and regulatory bodies. The key players that are profiled in the report include Cargill (U.S.), Malteurop Groupe (France), GrainCorp Ltd. (Australia), Soufflet Group (France), and Axereal Group (France).
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Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2020 to 2028. For the purpose of this study, Reports and Data have segmented Specialty Malt market on the basis of application, source and region:
By Type: (Revenue, USD Million; 2020-2028)
- Crystal
- Roasted
- Munich Malt
- Vienna Malt
- Belgian Malt
- Dark
- Other types
By Source: (Revenue, USD Million; 2020-2028)
- Rye
- Barley
- Wheat
By Form: (Revenue, USD Million; 2020-2028)
- Liquid Specialty Malts
- Dry Specialty Malts
By Application: (Revenue, USD Million; 2020-2028)
- Brewing
- Distilling
- Non-Alcoholic Malt beverages
- Baking
Regional Outlook (Revenue, USD Million; 2020-2028)
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
- Rest of Latin America
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