Malt Extracts and Ingredients Market Estimated to Reach a Value of USD 28.6 Billion by 2034
Global Malt Extracts and Ingredients Market Poised for Growth
The Global Malt Extracts and Ingredients Market is set to expand significantly over the next decade, with projections indicating a growth from USD 20.5 billion in 2024 to approximately USD 28.6 billion by 2034. This projected growth rate, while not explicitly stated for the entire market, is estimated to be between 3.5% and 8% annually, depending on the specific product segment.
The market's growth can be attributed to a variety of factors, with companies prioritizing sustainability, diversifying applications, and adapting to consumer preferences and supply chain challenges for long-term success. Innovation, sustainable sourcing, and expanding into non-alcoholic beverages and functional foods are key areas of focus for businesses in the malt extracts market.
Barley remains the most widely used raw material in the market, accounting for 73.9% of the global malt extracts and ingredients market in 2024. This preference for barley is due to its high quality of enzymes and starch content, which effectively convert starches into sugars during malting, ensuring desirable flavor, color, and fermentable sugar profiles, particularly in brewing and food applications.
The dry form of malt extracts is also preferred due to its better stability, longer shelf life, easier storage and transportation, and consistent quality compared to liquid forms. This convenience and reduced risk of microbial contamination make dry malt extract favored by manufacturers.
The market's growth is driven by the rising demand for craft beers and specialty malt products, which require specific flavor profiles and brewing characteristics. Key players in the market, such as Diastatische Producten, Boortmalt, Agraria, Cerex, and Barmalt, are innovating to meet these demands, with Diastatische Producten introducing a novel diastatic malt powder for improved dough handling in artisanal baking and Boortmalt developing a low-carb malt extract targeting the keto-friendly beverage market.
The Malt Extracts and Ingredients Market significantly impacts the global economy, creating jobs in agriculture, malting, and beverage production. In 2024, Malt Extracts held a leading position in the product segment, accounting for 68.2% of total sales. The market in Europe reached a value of USD 9.6 billion overall in an unspecified year.
Opportunities for growth in the market arise from health trends and craft brewing. Companies are exploring applications in fermented plant proteins, developing allergen-free malt extracts for sensitive consumers, and introducing high-protein malt extracts for sports nutrition and functional foods. Cerex, for example, developed a patented enzymatic process to produce ultra-pure malt extracts and partnered with a major confectionery brand to supply malt-based sweeteners.
In conclusion, the Global Malt Extracts and Ingredients Market is set for robust growth over the next decade, with key players focusing on innovation, sustainability, and meeting the demands of consumers for craft beers and specialty malt products. The market's preference for barley as a raw material and the dry form of malt extracts is expected to continue, driven by their desirable characteristics for brewing and food applications.
- The growth of the Global Malt Extracts and Ingredients Market is expected to stimulate job creation within the agriculture, malting, and beverage production sectors of various economies.
- The rising demand for craft beers and specialty malt products has spurred innovation among key players in the market, such as Diastatische Producten and Boortmalt.
- In addition to brewing applications, companies in the malt extracts industry are investigating applications in food and beverage sectors like allergen-free malt extracts, high-protein malt extracts for sports nutrition, and fermented plant proteins.
- Businesses within the food-and-drink industry, particularly manufacturers, are favoring the dry form of malt extracts due to its stability, longer shelf life, and consistent quality compared to liquid forms.
