Malt is a product prepared from grains through a malting process, which involves partial germination, to modify the grains’ natural food substances. Barley is generally used to prepare malt, while rice wheat, corn and rye are used less frequently. The principle use of malt is in brewing beer. Malt is also used for preparation of whiskey and other beverages. Its wide usage in alcohols, beverages and food products makes it an important product in the food and beverage industry. It is also used to make confections such as malted shakes, malt vinegar, flavored drinks such as Horlicks, and Milo, and some baked goods, such as bagels, malt loaf, and rich tea. Malted barley is an ingredient in blended flours specifically used in the manufacture of yeast breads and other baked goods.
Malt Market: Drivers & Restraints
The key driver for this market is the use of malt in the beer industry, which is growing at a fast rate. Its widespread use in the food industry is another impetus for the growth of this market. Opportunities for this market lie in the use of different types of malt extracts in food products. Growing popularity of wine and other beverages acts as a hindrance in the growth of this market, as this would reduce the consumption of beer. Increase in the use of organic malt in making breweries is boosting the growth of the market. The major challenge to this market is the entry of local players in the market. They offer low cost product, and thus are able to generate a broader customer base.
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Malt Market: Segmentation
The global malt market can be broadly segmented on the basis of type, application, brewers, and source. On the basis of type, the malt market can be classified into-Dry Extract, Liquid Extract, Malt Flour. On the basis of application, the malt market can be segmented into-Beer Industry, Whisky Distilleries, Food & Beverages, and Pharmaceutical industry. On the basis of brewers, the malt market can be segmented into- Base Malt, Standard Malt and Specialty Malt. On the basis of source, it can be segmented into-Barley, Wheat, Rye.
Malt Market: Region Wise Outlook
Geographically, the acai berry market is segmented into seven regions which are ; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East and Africa (MEA) and Japan.
North America has been the largest market for malts, sharing superiority in both production as well as consumption. Western Europe and Central Europe are also one of the key malt markets. Countries in Asia Pacific such as, China, South Korea and Australia are showing relatively quicker growth and are expected to be the dominant markets over the coming years. Countries in Africa such as, Zimbabwe and Botswana constitute of two of the most promising market potentials followed by Latin America.
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Malt Market: Key Players
Some of the major companies manufacturing malts in the global market are Bairds Malt Ltd, Cargill Inc., Crisp Malting Group Ltd, Malteurop Group, Muntons Malt plc, Simpsons Malt Ltd. Cargill Inc. Bairds Malt Ltd. Crisp Malting Group Ltd., Heineken, Muntons Malt plc and others.
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