The global malt extracts market was valued at US$ 815.79 million in 2018 and is projected to reach US$ 1,321.66 million by 2027; it is expected to grow at a CAGR of 5.6% from 2019 to 2027.
Malt extract is a sweet substance extracted from malted grains THAT are germinated cereal grains dried during malting process. It is extensively used in the brewing of beer. It is produced in two forms-dried and liquid. The liquid malt extracts are highly viscous and are available in different shades ranging from light to dark. The dry malt extracts are made by spray drying of liquid extracts. These extracts have been in use in multiple products for their unique flavor characteristics, ability to replace sugar or honey as a sweetening agent in recipes such as baked food, bars, cereals, and cookies. It provides enhanced flavors, aromas, and colors. It is also used as dietary supplement besides baking and brewing. Brewers prefer liquid malt extracts since it requires fewer processing step and appeals to the users seeking for the purest form of the product. Thus, the malt extracts market is anticipated to grow in the forecast period on the back of the increasing demand for craft beer and growing inclination toward natural and organic food.
Based on form, the malt extracts market has been segmented into powder and liquid. The liquid segment accounted for a larger share of the global malt extracts market in 2018, and powder segment is expected to register a higher CAGR during 2019-2027. Liquid malt extracts (LME) is concentrated, unfermented brewery wort, and a viscous syrup used mainly in brewing-especially home brewing-as well as in the food industry. LME is a common ingredient in baked goods, confectionery, breakfast cereals, dairy products, malt beverages, and condiments. Liquid malt extracts is also known as barley malt syrup available as the purest malt extracts syrup. Barley malt syrups are convenient to use and further protected against oxidation. The malt extracts market players offer different products such as pilsner, pale, ultra-light, maris otter, munich, rye, bavarian wheat, porter and stout dark malt extracts, and sorghum syrups. Beer is mainly made with four ingredients, including malt, yeast, hops, and water. Malted barley is mainly mashed, and the resulting fermentable sugars are then extracted and concentrated into malt extracts. Malt extract syrups are less concentrated than dry malt extracts. A 4 pound of syrup or liquid malt extracts is equal to ~3 pound of dry malt extract. However, LME is a simple and convenient malt base for any extract beer recipe with a various range of colors and flavors, consistently high degree of fermentability along with a fresh malt flavor.
The global malt extracts market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America holds the largest share of the global malt extracts market, followed by Europe and Asia-Pacific. The US is dominating the malt extracts market in North America. This region is also expected to gain a significant share in the global malt extracts market owing to the surging demand for functional food and increasing health-consciousness among consumers. Moreover, a significant shift in the preference for healthy lifestyle among North American consumers provides huge market opportunities for the key market players. However, less awareness among the consumer regarding the availability, usage, and consumption of malt extracts hampers the malt extracts market growth in the region.
Maltexco S.A, Malteurop Group, IreksGmbh, Malt Products Corporation, United Malt Group, GroupeSoufflet, Muntons Plc, Boortmalt N.V., Holland Malt, and Rahr Corporation are among the players present in global malt extracts market.
The malt extracts market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the malt extracts market.