Specialty Malt Market
Specialty Malt Market By Product Type (Caramelized Malt, Roasted Malt), By Source (Barley, Wheat, Rye), By Extract (Dry, Liquid, Malt Flours), By Application, By Region - Global Mraket Forecast 2020-2030
Specialty Malt Market Insights: COVID-19 Induces Sluggishness in Demand till 2021
The COVID-19 pandemic has had a varied impact on multiple industries, including food and beverages. Its effects are expected to be negative on the specialty malt market. Companies have ceased their production owing to decreased demand and diminishing supply due to nationwide lockdowns.
However, the specialty malt market is expected to recover by the end of last quarter of 2020 registering an upsurge in demand in the mid-term forecast. An influx of brewing industries is likely to create notable demand for specialty malt. Based on these trends, the market is projected to see 6% growth during the forecast period (2020-2030).
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Specialty Malt Market Product Insights: Multiple Functionalities of Specialty Malt Likely To Augment the Demand Growth
The specialty malt segment is projected to grow at 5.5% CAGR during forecast period 2020 – 2030. Specialty malts have multiple applications, as they help in providing taste, texture, appearance, and flavors to beer and other beverages. For instance, rye malt offers a unique attribute as a multifunctional and natural dough conditioner, along with a sweet and tangy flavor. Mainly used in the bakery industry, it paves way for softer and more elastic dough, making the final product rich in terms of volume.
Specialty Malt Market Regional Insights: Microbrewers Specializing in Flavored Beers Fueling the Demand for Specialty Malt
An expanding microbrewery industry is expected to surge the demand for specialty malt during the forecast period. The number of operating breweries grew by almost 10-12% in 2018, and totaled to 4,500 breweries in the US. Small and independent breweries accounted for almost 99% of the breweries in operation in the United States. In 2018, craft brewers produced 26 million barrels, and witnessed 11% rise in volume. Also, the number of operating breweries in the US grew by 13% in the same year.
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Specialty Malt Market Strategy Insights: Manufacturers are Strategically Introducing Malternatives as Substitute to Beer
Malternatives are alcoholic beverages which contain malt alcohol in low proportion mixed with other types of alcohol. Malternatives are an exciting and enticing alternative to regular beer. These products are regulated in a way identical to beer, which allows retailers to sell seemingly wider product lines.
The malternatives market is driven by product acceptance among young and urban consumers. The prominent players in the production of malternatives such as Anheuser-Busch Inc., Arizona Beverage Company LLC, Bacardi USA Inc. are widely using specialty malt for production of malternatives.
COVID-19 Market Insights:
The Covid-19 pandemic has adversely impacted the global food and beverages industry where national and regional lockdowns have disrupted both production and supply chains. It is anticipated that the effect on beverages and liquor firms will be complex, affecting both demand and supply sides.
And unlike other sectors, a change in consumer habits have led to increased demand for several other categories of food and beverages as well as shifting product preferences.
At the same time, manufacturers are determining how best to tackle possible disruptions to the supply chain and capacity constraints that may prevent them from meeting evolving customer needs.
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The global specialty malt market is poised to grow positively during the forecast period. Emerging regions such as East Asia, South Asia and Latin America have shifted consumer demand towards specialty malt. However, the market is expected to showcase sluggish growth during year 2020 due to the coronavirus pandemic.
Global Specialty Malt Market: Scope of the Report:
The recent global specialty malt market report by Fact.MR offers a 10-year forecast from 2020 to 2030. The report elaborates on the key drivers, restraints, opportunities and threats to the expansion of the global specialty malt market. A detailed segmental analysis, based on product type, source, extract and application has been provided in the report.
Regional analysis in terms of supply chain analysis, business execution and market value analysis provides an in-depth perspective about the future scope of the global specialty malt market. In addition, a separate section on market structure has also been provided. The section provides a detailed analysis of key market players and the strategies for expansion in the specialty malt market.
Specialty Malt Market: Segmentation
FactMR’s study has done the segmentation of specialty malt market on the basis of product type, source, extract and application.
By Product Type :
- Caramelized Malt
- Roasted Malt
By Source :
By Extract :
- Malt Flours
By Application :
By Region :
- North America
- Latin America
- East Asia
- South Asia
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