Pune, India -- (SBWire) -- 03/27/2019 --The market size Malt Market was worth USD 19286.06 Million in 2017 and it is expected to reach USD 30560.71 Million by 2024, growing at a C.A.G.R of 6.9% over the forecast period of 2018 to 2024. Malt is a type of sprouted and dried grain, used for the production of whiskey, beer, and another alcoholic beverage. It involves the soaking, germination, and drying of grain. During the malting process, grains develop diastatic enzymes that transform the grain starches into several types of sugar. Malting process helps the grain to get unique colors and flavors. Its unique color and flavor facilitate its application in the food and beverage sector, in addition to the brewing industry.
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Growing Application of Malt in The Other Food Segment in Addition to Beer and Whiskey
In the present time, malt-based products are getting more application in the other sector in addition to the beer industry. The malt is the rich source of vitamin B, essential amino acid, a good source of calcium, phosphorus and magnesium and some other minerals. Additionally, it has several beneficial nutrients which are required by other non-alcoholic consumers. These consumers consume malt for their health benefits through other sources as a bakery, flour. Hence, as the awareness about the different health benefits is growing among the non-alcoholic consumers, the demand for malt in other food sector is growing.
The Report Segments the Global Malt Market by Application, Brewers, Source, Type, and Region.
Malt Market Segmentation: By Application
The global malt market is bifurcated into application, brewers, source, and type. On the basis of application, the global malt market is categorized into beer, food and beverages, functional foods, pharmaceuticals, slim diet, whiskey, and others. The application was dominated by beer segment in 2017. Beer is the most preferred non-alcoholic drink around the world. It was worth 13882.5 USD million and it is expected to reach 21768.8 USD million in 2024.
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Malt Market Segmentation: By Brewers
Based on brewers the global malt market is categorized into single malt, specialty malt and standard, and base malt. Further, the global malt market by the application was dominated by standard & base malt in 2017. It was worth 13466.35 USD million and it is expected to reach 20545.78 USD million in 2024.
Malt Market Segmentation: By Source
Based on the source the global malt market is categorized into barley, rice, rye, wheat, and others. Moreover, Barley dominated malt market by the source in 2017. Barley is the most desired grain for malting purpose around the world. It was worth 14,714.9 USD million and it is expected to reach 23,319.2USD million in 2024.
Malt Market Segmentation: By Type
On the basis on the type, the malt market is bifurcated into dry extract, malt flour, and liquid. Further, liquid extract dominated the malt market by type in 2017. Moreover, the liquid extract is mostly consumed malt in several industries. Liquid extract of malt is used to produce whiskey, beer, and another alcoholic beverage. Additionally, it is used as syrup in the food and beverage industry to provide different flavor and taste to different food and beverage products. It was worth 22626.84 USD million and it is expected to reach 29383.33 USD million in 2024.
Malt Market Segmentation: By Region
Among the region, the market is divided into North America, Europe, APAC, and RoW. Europe dominated the global malt market. Besides, Europe is anticipated to reach 11536.67 USD million by 2024. Further, the malt market in this region is estimated to exhibit growth of 6.8% CAGR over the period from 2018 to 2024. Europe dominated the global Malt market in 2017, due to heavy demand for malt-based products, particularly in this region. Countries such as Ireland, UK, Denmark, Germany, Austria, Slovenia, Bosnia, and Albania are the major beer consuming nation in the European region. European countries produce a large amount of barley and other raw material, which are used to produce malt-based products as beer, whiskey. It is the human tendency that what is available near him, he used to consume that. From ancient time, these countries are consuming beer and other malt-based products to quench their thrust & hunger and get better nutrition from it. Additionally, heavy production of barley and other ingredient motivate them to use it in the other form for their food as a bakery, chocolate, snacks, and other edible items. All these help the European region to maintain the leadership position in the malt market.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Malt.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2023.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
