Microbreweries and Large-Scale Corporate Breweries to Create Opportunities for Specialty Malt Market despite Sluggish Growth in Near Term, Concludes Fact.MR
Published : 28 May 2020 Industry: Food & Beverage
Microbrewery is a brewery that produces small amounts of beer as compared to large-scale corporate breweries, and is independently owned. According to the US Brewers Association, significant growth opportunities exist in the microbrewery industry. Specialty malt is a major ingredient in crafted beers, which adds flavor and color to the final product. Based on these trends, the specialty malt market is slated to grow at a positive 6% CAGR during the forecast period (2020-2030). Demand of specialty malt is expected to grow exponentially in the food and beverage segment. On this backdrop, market will witness an absolute $ opportunity of US$ 2.3 Bn during forecast period 2020 – 2030.
Key Takeaways of Specialty Malt Market Study:
- Europe accounts for more than one third share in the specialty malt market. The demand from this region is expected to show an upward trend during the forecast period.
- Barley is expected to experience positive growth in comparison to malt sources, owing to high amount of production and availability.
- Dry extract segment is expected to dominate the market and grow 1.7X during the forecast period.
- Food segment is expected to be the fastest growing application for specialty malt, growing 1.9X during forecast period 2020 – 2030.
- East Asia specialty malt market is anticipated to hold more than 15% market share in terms of value and is anticipated to gain 200 BPS over forecast period 2020 – 2030.
“The global specialty malt market is poised to see a sluggish growth trend in 2020, owing to the COVID-19 pandemic. However, companies are anticipating lucrative opportunities by the end of-2021. The market will rebound over the next five years”, says the Fact.MR analyst.
Organic Trends to Give a Ray of Hope
Of late, Malteurope, one of the frontrunners in the specialty malt market, is focusing on capacity expansion and greater presence across high demand regions such as North America, Latin America, and Europe for better product positioning in keeping with consumer trends. Specialty malt processing companies are increasing their production capacities to meet the increasing demand. For instance, in 2018, Malteurope started its capacity expansion of malt at its Geelong, plant in Australia, with the aim to cater to the increasing demand for specialty malt products from breweries in Australia. The company caters to the high demand of malt from United States, Europe and Oceania. The company has strategized on its organic malt range which is likely to launch in the market by end of 2020.
Find More Valuable Insights on Specialty Malt Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global specialty malt market, presenting historical demand data (2015-2030) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the specialty malt market on the basis of product type (caramelized malt, roasted malt), source (barley, wheat, rye, others), extract (dry, liquid, malt flours) and application (food, beverages, alcoholic and non-alcoholic beverages) across seven major regions.
>>> To Get more insights on specialty malt market, visit-https://www.factmr.com/report/4817/specialty-malt-market
About the Food and Beverages Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Fact.MR helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million plus data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help. For more food industry domain insights, visit here.