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Continuous introduction of new products including, gluten free brew particularly in bakery industry, has further driven the product market. Other significant factors contributing to global product market growth for bakery industry include, increased per capita spending on value added goods and penetration of products with natural ingredients.
Growing population worldwide has positively impacted the food demand, therefore driving brew ingredients market which is widely used in food additive industry. For instance, malted barley is used as an ingredient in blended flours to manufacture yeast breads. Additionally, product is used for making confectionaries which include brewed shakes, brew vinegar and flavored drinks (Milo and Horlicks) which enhances malt market size growth.
Malt is produced from sprouted cereal grains that have been dried in a process known as malting. In malting process grains are made to germinate by soaking in water and then paused from sprouting further by drying with warm air. Malting grains develop enzymes which are required for modifying grain’s starch into several types of sugar including proteases, disaccharide maltose, monosaccharide glucose, trisaccharide malttriose and maltodextrins. Several types of cereal grains are used to make product which include wheat, rice, rye and oats, but the most common is barley as it is the primary ingredient for manufacturing malted whiskeys and beers. Some of the key benefits provided by product include reduced blood pressure, cardiovascular diseases & sugar level, provides energy & protein and build bones.
The major restraints for malt market include, government regulations and fluctuation in raw material supply. Rising popularity of wine and other drinks act as a hindrance in the growth of product market as this would reduce beer consumption worldwide.
Brew exists in dry, liquid and powder form and is available in three types named, roasted, crystal and dark. Roasted brew is projected as the fastest growing segment due to its wide application in beverage industry. Roasted brew has been used for brewing alcohol to derive different varieties of beer. The product is derived from barley, wheat and rye. Barley segment holds the largest share as it is used in beer industry which is the major industry for brew.
The product is used in different industries including, beer, whiskey distilleries, pharmaceutical and food & beverage. Beer industry will witness highest growth owning to chief consumer of malt. Based on brewers, the malt market is divided into three types which include base, standard and specialty.
The U.S. holds the largest share for malt market globally, both in production and consumption. High disposable income and presence of several food processing industry is expected to boost product market.
Europe is the fastest growing region for malt market due to largest share in specialty brew market. With increased per capita beer consumption in most of the European countries the region will foresee steady growth.
Asia Pacific, dominated by China, Australia and South Korea will foresee significant growth owning to presence of key producers of specialty malt. Further, growing population and per capita income in the region is likely to drive malted beer. This in turn will fuel malt market growth.
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Malt market is consolidated with presence of many manufacturing companies worldwide. Some of the major players are Bairds, Cargill, Crisp Malting, Soufflet, Malteurop, Muntons, Simpsons, Agraria, Malting India, Axereal, Heineken, Muntons and Graincorp.
Leading players of malt market have adopted different business strategies to capture this evolving market which includes agreements, acquisition, product launches, expansions and partnerships. Some players have focused on acquiring firms in emerging markets and increasing their geographical presence to up surge their market share for provide customized brew ingredients to consumers. In August 2013, Cargill Australia acquired Joe White Maltings, supplier of brew related products for food & beverage industry. The acquisition will help Cargill to escalated its barley production and footprint in different geographical areas.
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