Global Malted Milk Market is valued at approximately USD 8.85 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2022-2029. Malted milk formulation includes whole milk powder, malted grain flour and other ingredients. Commercially, malted milk is available in a powdered form and is usually sold in a combination of different flavors. The Malted Milk market is expanding because of factors such as the rising adoption of malted milk across diverse industries including food & beverage and the increasing consumption of snacks.
While demand for flavored milk has spurred over the past decade, a similar trend can be witnessed in the malted milk landscape. Its prevalence has progressively increased during the last few decades. According to Statista, the flavored milk market size amounted to about 21.7 billion liters worldwide and is forecasted to reach about 28 billion liters in 2023. Furthermore, in 2021 the leading flavored milk brands in the United States, were private label that generated approximately USD 117 million in sales, followed by the brand name Hood with over USD 51 million in sales. According to Statista, Revenue in the Beverages segment is projected to reach USD 223 billion in 2023 and is expected to show an annual growth rate of 12.39% in between 2023 to 2027, resulting in a projected market volume of USD 355.80 billion in 2027. Another important component driving space increase is the consumption of snacks. As per Statista, Revenue in the Snack Food segment amounts to USD 535.70 billion in 2023. The market is expected to grow annually by 5.61%In global comparison, most revenue is generated in the United States USD 108.50 billion in 2023. In relation to total population figures, per-person revenues of USD 69.74 billion are generated in 2023. Also, rising demand for high nutritional value bakery products and expansion of healthy products in retail industry would create a lucrative growth prospectus for the market over the forecast period. However, the rising trend of vegan-based products stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Malted Milk Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific region dominated the market in terms of revenue, owing to the rising awareness of leading market players in the malted milk market. According to Statista, in 2020, the value of India’s whole cow milk production was approximately USD 36.8 billion, the highest in the Asia-Pacific region, followed by China with a value of around USD 18.7 billion. Furthermore, North America is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising geriatric and target populations, and the geographic expansion of key players in the market space.
Major market player included in this report are:
Imperial Malts Ltd
King Arthur Flour Company, Inc.
Briess Malt & Ingredients
Family Cereal Sdn. Bhd.
SSP Pvt Limited
Food & Biotech Engineers India Private Limited
Recent Developments in the Market:
? In August 2020, Briess Malt & Ingredients Company completed a $17 million expansion project, allowing the local company to expand its custom barley processing and malting operations in downtown near Washington and Jay streets.
Global Malted Milk Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Source, Product Type, Distribution Channel, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type
By Distribution Channel
Rest of the World