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Among the above-mentioned industries, the product finds a significant demand from the beverage industry as it is a primary ingredient in the production of alcoholic beverages such as beer and whiskey to mention a few. Additionally, is also used in confectionaries to make malt vinegar and shakes, flavoured drinks such as Milo and Horlicks; baked goods, such as rich tea, malt loaf, and bagels.

The malt ingredients market accounted for 47% of the overall grain and high-fibre market which was worth USD 48 Bn in the year 2021.

Gains Underpinned by Increasing Popularity of Malternatives

Malternatives are gaining significant traction as a substitute of beer, which contain malt alcohol in low proportion mixed with other types of alcohol. Wide acceptance of malternatives among the young and urban consumers is likely to complement the growth of the malt ingredients market. Hard lemonade, malt-based coolers, and a new breed of spirits are growing at a rapid rate, potentially raising the demand for malt ingredients.

• Bacardi silver is positioned as the only malternative with the flavor of rum and the product was launched with a full scale TV, radio, and print media campaigns.
• Key producers of malternatives include Anheuser-Busch Inc., Arizona Beverage Company LLC, Brown-Forman Corporation, Bacardi U.S.A. Inc., Molson Coors Brewing Company, and Cruzan Rum Distillery.

Factors Fueling the Malt Ingredients Market Growth

Non-alcoholic brews and malt bases of soft drinks are gaining popularity in Central Europe and the Middle East. Malt based beverages are alcohol-free and hence, are exactly lined up with halal regulations. This, in turn, is creating relatively high demand for malt ingredients, especially in Islamic and GCC countries, thereby contributing to the market growth.

Although the demand for malt ingredient-based products continue to move on an upward spiral, fewer number of market players are unable to meet the growing demand in the current scenario. This, in turn, is likely to generate opportunity for new players to enter into the market and serve large segment of the consumers.

Malt is produced from the barley grains in a process called malting, and is used in the production of beer. Malt ingredients work as a source of starch, contributing to beer’s organoleptic and color characteristics. These ingredients also play an important role in preserving the oxidative stability of beer as the natural source of antioxidants. Growing awareness of these beneficial effects among consumers is likely to fuel the growth of the malt ingredients market.

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During the process of malting and brewing of grains for the production of malt ingredients, the leftover by-products are utilized to feed animals. As it consists carbohydrate (Cellulose and hemicellulose) and protein even after the removal of sugar during brewing process. The utilization of by-product in animal feed industry is likely to work to the advantage of the malt ingredients market players.

This study by FMI offers insights into the malt ingredients market for the forecast period of 2022-2032. The malt ingredients market is projected to record a CAGR of 5% during the predefined timeframe.