According to the latest report by IMARC Group, titled “Specialty Malt Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global specialty malt market size reached US$ 3.6 Billion in 2022. Specialty malt refers to a distinctive category of malted grains widely used in the brewing and distilling industries. It is crafted through unique and specialized processes to impart distinct flavors, colors, and characteristics to the final product. The malting process involves soaking the grains, allowing them to germinate, and then halting germination by drying them in a kiln. Specialty malt offers a wide range of flavors, aromas, and colors that contribute to the complexity and character of beers, spirits, and other malt-based beverages. Additionally, it can be utilized in the production of numerous types of spirits, such as whiskies, rums, and gins, where it contributes to the flavor profile and complexity of the final product.
Global Specialty Malt Market Trends:
The rising consumption of craft beer and craft spirits among individuals is driving the global market. Moreover, the increasing consumer demand for flavourful and unique beverages is contributing to the growth of the market as specialty malt provides brewers and distillers with the ability to create unique and flavourful beverages that cater to distinct consumer preferences. Besides, the expansion of microbreweries and craft distilleries worldwide is augmenting the demand for specialty malt. In line with this, several major companies are developing a unique range of flavors, colors, and aromas compared to traditional malt, allowing producers to create exciting beverages, which is providing a boost to the market. Furthermore, the growing trend of beer and food pairing and the wide utilization of specialty malts in flavored bread, biscuits, cookies, and malt-infused desserts for enhanced flavor and color are impacting the market favorably. Other factors, such as the rising preference for natural and organic malt ingredients and significant growth in the food and beverage industry, are also influencing the market. Looking forward, the market value is projected to reach US$ 4.6 Billion by 2028, expanding at a CAGR of 4.1% during 2023-2028.
- Based on the product, the market has been segmented into caramelized and roasted malt.
- On the basis of the source, the market has been divided into wheat, rye, and barley.
- Based on the form, the market has been bifurcated into dry, and liquid malt.
- On the basis of the application, the market has been divided into brewing, distilling, non-alcoholic malt beverages, and baking.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Boortmalt (Société Coopérative Agricole Axereal), Briess Malt & Ingredients Company, Crisp Malting Group Limited, Great Western Malting Co. (United Malt Group), IREKS GmbH (J. Ruckdeschel & SÖHne Gmbh & Co. Kg), Malteurop Groupe S.A. (SCA VIVESCIA Industries), Muntons plc, Rahr Corporation, Simpsons Malt Limited, The Soufflet Group and Viking Malt AB.
|Base Year of the Analysis
||Product, Source, Form, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Boortmalt (Société Coopérative Agricole Axereal), Briess Malt & Ingredients Company, Crisp Malting Group Limited, Great Western Malting Co. (United Malt Group), IREKS GmbH (J. Ruckdeschel & SÖHne Gmbh & Co. Kg), Malteurop Groupe S.A. (SCA VIVESCIA Industries), Muntons plc, Rahr Corporation, Simpsons Malt Limited, The Soufflet Group and Viking Malt AB.
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