The Global Caramel Malt Market is expected to reach a market valuation of US$ 1,066 million by 2023, recording a CAGR of 4.1% from 2023 to 2033.
Any type of malt can be used to make caramel malt by simply hydrating it rather than crushing it first. The malts that are produced are referred to as caramel malt or caramelized malts because the caramelization takes place throughout the malting process. All of the caramel malts contain some unfermented sugar and residual starch known as dextrin.
Caramel Malt Market Size (2023E)
US$ 1,066 million
Caramel Malt Market Projected Size (2033F)
US$ 1,577 million
Value CAGR (2023 to 2033)
4.1%
Top 3 Countries Marketing Share
65.8%
The brewing industry has noticed an increase in demand for caramel malt over the past few years. Caramel malt comes in a wide variety and is sold in the market. So, consumers can select the caramel malt variant based on their needs while making malt beverages. When used to make beer, the residual dextrin and starch in caramel malt give the beverage a mouthfeel. Caramel malt is used in the brewery because it provides a dextrin-like flavor and improves various beer characteristics, such as increased head retention and foam.
In our new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights into key factors driving demand for Caramel Malt.
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How Has the Market Progressed So Far in 2022?
Market Statistics
Details
Jan–Jun (H1), 2021 (A)
3.5%
Jul–Dec (H2), 2021 (A)
3.6%
Jan–Jun (H1),2022 Projected (P)
3.8%
Jan–Jun (H1),2022 Outlook (O)
3.9%
Jul–Dec (H2), 2022 Projected (P)
3.9%
Jul–Dec (H2), 2022 Outlook (O)
4.1%
Jan–Jun (H1), 2023 Projected (P)
3.9%
Historic v/s Future Outlook Comparison for Caramel Malt?
The brewery industry has noticed a need for caramel malt. The market offers a wide selection of caramel malt products. So, while brewing malt drinks, consumers can select the caramel malt variety based on their needs. When used to make beer, the residual starch and dextrin in caramel malt give the beverage a mouthfeel. The caramel malt has been utilized in the brewery because it improves some beer characteristics, such as increasing froth and raising head retention, without changing the beer's color or flavor.
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Demand for Non-Alcoholic Beverages
The market has seen an increase in demand for non-alcoholic drinks, particularly in Qatar, the United Arab Emirates, Saudi Arabia, etc. As consumers place more of an emphasis on leading healthy lifestyles and eating well, the demand for non-alcoholic beverages is rising. Further growth of caramel malt usage in the non-alcoholic beverage industry is possible.
The non-alcoholic drinks taste better and come in a variety of flavor selections. Another significant element that has made it possible for customers to choose such healthful and advantageous beverages is the rise in disposable money.
Comparative View of Associated Market
Malt Beverages Market:
Attributes
Malt Beverages Market
CAGR (2023 to 2033)
10%
Market Value (2023)
US$ 6,705 million
Growth Factor
Breweries place a strong emphasis on using malt beverages in their goods. In the upcoming years, it is anticipated that rising malt beverage prices would be a significant restraint, limiting the market's current growth and future tendencies.
Key Trend
Due to improved taste and a larger variety of flavors, as well as rising health concerns about sugar-filled beverages, malt beverage sales have surged recently. Demand for malted beverages is fueled by population growth, urbanization, rising disposable income, and changes in consumption patterns.
Specialty Malt Market:
Attributes
Specialty Malt Market
CAGR (2023 to 2033)
4%
Market Value (2023)
US$ 2,912 million
Growth Factor
Specialty malt is a crucial component in the brewing of beer and the creation of beverages with a malt foundation. It is widely used in alcoholic beverages as a flavoring and coloring agent, and it is in high demand.
Key Trend
Numerous key food and beverage sectors utilize specialty malt on a large basis. The main factor driving the expansion of the specialty malt market is the rise in consumption of alcoholic and non-alcoholic products made using malt.
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Country-wise Insights
How the Sales of the Caramel Malt Market Shaping in North America?
The United States of America has long been the largest caramel malt market in the world. Among all the main players, the USA has the highest production and consumption rates. The tremendous craft beer boom in the US has largely been responsible for this spread. Because American brewers use malt more frequently as a flavor and aroma additive, demand for it has soared. Also, the need for malt has increased because to the rise in popularity of contract brewing and private label businesses.
Why is there a Rising Demand for Caramel Malt in Asia Pacific?
The Asia Pacific area is currently the largest market for malt. This is caused by a multitude of factors, including the local beer market's expansion and craft beer's growing popularity.
The Asia-Pacific area is home to nearly 4 billion people, or more than half of the world's population. This suggests that there is a sizable market for caramel malt in the region. The region's economy is also growing significantly, which is increasing demand for non-alcoholic beverages.
Category-wise Insights
Production of Non-Alcoholic Drinks
The non-alcoholic beverage market is expanding, and with it, so is demand for caramel malt. More and more brewers are employing wheat and rye malt to make their distinctive beverages. The development of microbreweries and craft beer producers, who are constantly seeking for new flavors, is driving the trend.
Malt is a crucial component of brewing. It offers the enzymes required to change starch into sugar, which is subsequently fermented to create alcohol. Moreover, malt imparts flavor, body, and color to beer. To provide brewers' demands, more and more farmers are planting wheat and rye.
Application in Bakery Products
Caramel malt may be kept at room temperature for longer periods of time without losing any of its qualities, which makes it a preferred leavening agent in baked goods all over the world. One of the key factors propelling the Caramel malt Market is the major manufacturers' focus on creating high-quality baker's malt to enhance its uses as a leavening agent in baked goods. Specialty malts are being used as a key component in baking for the first time. Throughout, there is a strong demand for breads, including rye breads, whole wheat bread, buns, white breads, brown breads, and many more bakery items. These key elements are driving the market forward. As consumers' understanding of the advantages of organic food has grown, retail sales of organic food products have soared.
Competitive Landscape
The Caramel Malt market is only slightly fragmented. The major market players are concentrating on expansion tactics like mergers and acquisitions and extending their distribution networks to increase their market position. The manufacturers in the market used a variety of competitive methods, including product releases, free-from claims, and organic and natural origin claims.
Scope of the Report
Attribute
Details
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
US$ million for Value and Metric Ton for Volume
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa
Key Countries Covered
United States of America, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Singapore, Australia, New Zealand, GCC countries, North Africa, South Africa, others.
Key Segments Covered
Color, Flavor, Source, Drying, Applications, End Use, and Region
Key Companies Profiled
Briess Malt & Ingredients Co.
Bairds Malt Limited
Weyermann
Castle Malting
Thomas Fawcett Malting
Great Western Malting
Crisp Malting
Viking Malt
Barmalt Malting Pvt. Ltd.
Agrária - Maltes
Report Coverage
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Caramel Malt Market by Category
By Color:
Light
Medium
Dark
Very Dark
By Flavor:
Candy Like
Caramel
Toffee
Raisiny
Slight Burnt Sugar
Others (e.g. Bready, Dark Toast, Nutty, etc.)
By Source:
Wheat
Rye
Others
By Drying:
Kilned
Roasted
By Applications:
Food
Dairy and Frozen Products
Bakery and Confectionery
Others
Beer
Ales
Porters
Pilsners
Lagers
Stout
By End Use:
Home Brewers
Brewpubs
Microbreweries
Regional Breweries
Large Breweries
Contract Brewing Companies
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa
Frequently Asked Questions
What is the global Caramel Malt Market reported by FMI for 2023?
The Caramel Malt Market is valued at US$ 1,066 million for 2023.
What is the Caramel Malt Market valuation expected for 2033?
The Caramel Malt Market valuation is expected to be US$ 1,577 million in the year 2023.
What is the projected CAGR for the Caramel Malt Market from 2023 to 2033?
The value of CAGR for the Caramel Malt Market is estimated to be 4.1%.
Which segment type will garner significant value share by 2023?
The Non-Alcoholic segment would garner a significant market value share by 2023.
