The global dry malt products market size is expected to reach US$ 396.3 Million in 2022 and exhibit immense growth at a CAGR of 11.5% in the forecast period from 2022 to 2032. Rising demand for beer and other alcoholic beverages from both developed and developing countries is set to augment sales of dry malt products in future. As per FMI, the dry malt products market is likely to be valued at US$ 761.9 Million in 2032.
| Report Attribute | Details |
| Dry Malt Products Market Estimated Base Year Value (2021) | US$ 248.1 Million |
| Dry Malt Products Market Expected Market Value (2022) | US$ 396.3 Million |
| Dry Malt Products Market Anticipated Forecast Value (2032) | US$ 761.9 Million |
| Dry Malt Products Market Projected Growth Rate (2022-2032) | 11.5% CAGR |
Dry malt is considered to be one of the most popular cereal grains that is produced by using barley. The barley is usually soaked in water and then dried in hot water, which enables germination of barley.
This process of malting allows the starches present in the grain to turn into sugars, such as fructose and glucose. Increasing demand for dry malt products for usage in animal feed, baby food, and pharmaceutical products is expected to boost the market.
Moreover, the easy availability of various types of malts with grains, such as rye, wheat, soybean, and barley is another crucial factor that is likely to spur growth. The moisture content of the liquid malt is usually taken out with the help of the unique spray drying equipment.
As compared to liquid malt, dry malt is long lasting and is available in the fine powder form. Ongoing expansion of the food and beverage industry and the high demand for organic colors and flavors in this industry are also anticipated to bode well for the global market.
Increasing demand for natural and organic ingredients in food and beverages is a major factor that is set to push the global dry malt products market growth in the evaluation period. Rising awareness among consumers regarding the benefits of adopting healthy lifestyles is another crucial factor that is likely to aid growth.
Increasing usage of dry malt products in beer and alcoholic beverages for preventing the formation of cindery, thin, or dry flavors is also expected to bode well for the global market. Surging number of breweries across the globe owing to rising disposable income and changing lifestyles of people is projected to boost growth in future years.
The lack of knowledge about the availability of organic ingredients in underdeveloped countries is a crucial factor that may hamper the demand for dry malt products in the upcoming years. Besides, the excessive consumption of alcoholic beverages, such as beer can lead to obesity, heart diseases, and hypertension among people. These downsides of beer may decline its consumption, thereby obstructing sales in the market.
Based on region, North America is likely to remain at the forefront by accounting for the largest dry malt products market share in the assessment period. This growth is attributable to the presence of a well-established beverage industry across the U.S. and Canada.
Rising demand for premium products and growing young–adult demographic in North America are a couple of other factors that are set to propel growth. In addition to that, increasing number of supermarkets/hypermarkets in major cities and rapid urbanization are expected to drive the North America market.
In Asia Pacific, sales of dry malt products are expected to surge at a fast pace over the forthcoming years. Increasing consumption of premium beers in full-service restaurants and bars by millennials and aging populations across China, South Korea, India, and Japan is projected to foster the regional market.
Apart from that, the rapid expansion of the e-commerce sector and the availability of various apps providing alcohol home delivery services are anticipated to augment the market. The low Alcohol by Volume (ABV) of beer and increasing development of the beverage in numerous innovative flavors are also projected to drive the market.
Some of the leading companies operating in the global dry malt products market include Viking Malt, Malteurop Groupe, Axereal Group, Mahalaxmi Malt Products Pvt. Ltd., Cargill, Crisp Malting Group Malt, Soufflet Group, GrainCorp Limited, Maltexco, Ireks GmbH, Simpsons Malt, and Muntons among others.
The majority of the companies present in the global market are increasingly focusing on mergers and acquisitions with start-up firms to co-develop innovative products and expand their customer base. Meanwhile, a few other key players are aiming to engage in partnerships, joint ventures, new product developments, and agreements to gain a competitive edge in the global market.
| Report Attribute | Details |
| Growth Rate | CAGR of 11.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Countries Profiled |
|
| Key Companies Profiled |
|
| Customization | Available Upon Request |
The global dry malt products market is set to exceed US$ 761.9 Million in 2032.
North America is set to lead the dry malt products market in the forecast period.
Viking Malt, Malteurop Groupe, Axereal Group, Mahalaxmi Malt Products Pvt. Ltd., Cargill, Crisp Malting Group Malt, and Soufflet Group are some of the renowned companies in the dry malt products market.
Explore Similar Insights
Dry Malt Products Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
