Specialty Malt Market Value and Growth Analysis-2023

The Specialty Malt Market was valued at $2.36 billion in the year 2021, and it is estimated to reach $3.01 billion by 2027, with a CAGR of 5% from 2022 to 2027.

Specialty and basic malts are two examples of different sorts of malts. Beer and other beverages get their right texture, colour, flavour, and appearance from specialty malts, which have a diastatic power. Diastatic conversion of starch is another capability of basic malt. They offer beverages and beer with distinct flavours and qualities. Due to its useful qualities, it is perfect for brewing in the food and beverage sector.

Barley is the main source material used to make speciality malt; additional raw materials used include corn, wheat, rice, and rye. Belgian, Munich, and Vienna malts are among the toasted malts frequently utilized in the beverage sector for various purposes. Roasted malts have been used to create multiple types of alcohol using conventional techniques since the beginning.

Market Drivers and Restraints:

It is anticipated that the speciality malt market will expand during the projection period. The conversion of raw grain into malt is an ancient process that has evolved into a fascinating interaction of modern technology and science. Malt is a sprouting cereal that has been dried. Although malt is primarily used to manufacture beer or whiskey, it can also be used to make vinegar or malt extract. Grain types include malted wheat, rye, barley, and sorghum. The enzymes required for converting grain starches into sugars are produced by malt grains. In addition, other well-known enzymes like protease primarily cleave proteins to create a by-product that yeast can utilize. Malt goes through several steps, including soaking, germination, and drying. The most important stage is to dry the grain or make unique malts.

All malts besides typical ales are considered specialty malts. Their principal method of production is controlling the drying process. Specialty malts have unique qualities that enhance the attributes of craft beer, including more amazing colour and flavour, a longer shelf life, greater flavour, more extraordinary foam and retention foam, and, ultimately, brewing performance. Increased demand for craft beer, an increase in the number of independent breweries, better R&D accomplishments for specialty malt, and diverse malt functioning speciality are some factors propelling the growth of the worldwide specialty malt market.

On the other hand, a few elements impede the expansion of the global market, such as governmental regulations and variations in the availability of raw materials.

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The report is segmented as follows:

The Specialty Malt Market is segmented by Source; market is segmented based on Type; the market is segmented based on Application; Market is segmented based on Form:

By Source (Barley, Wheat, and Rye)

By Type (Roasted, Crystal and Dark)

By Application (Non-alcoholic Malt Beverages, Bakery, Brewing, Distilling)

By Form (Dry & Liquid)

Geographical Segmentation:

North America outpaces all other regions as the world’s largest specialty malt consumption and product creation market because of its excellent facilities for sales and promotion and its mass

manufacture of products. The main exporters of the good in the region are the US and Canada. The rising demand for alcoholic and non-alcoholic beverages will greatly stimulate the market for specialty malt.

Europe is also expected to see an increase in demand due to its widespread involvement in the beer and beverage industry. Nations like France, Switzerland, Germany, Belgium, Italy, and Russia are advancing to become regional leaders because of their high consumption of flavoured alcoholic beverages and the presence of a sizable clientele.

Asia Pacific is predicted to experience the quickest growth in the global specialty malt market. Emerging economies, such as those in China, Japan, India, and Australia, are rapidly expanding and being highly demanded. India and China are predicted to overtake the other two in the

speciality malt industry due to their high levels of disposable money and modifications in the general populace’s habits. Moreover, the expanding youth population is also boosting the consumption of beer and other alcoholic beverages, supporting demand for specialty malt in this region throughout the forecasted period.

Soft drink consumption has recently increased rapidly across the Middle East and Africa, and this trend is anticipated to continue over the projection period. Demand for soft drinks is thought to be driven by their increasing flavour and the availability of different qualities.

Impact of COVID-19 on the Market

The Covid-19 pandemic has impacted various end-user industries, including the food and beverage industry and all of its related firms, such as breweries. The suspension of production facilities and regional breweries caused by the lockdown imposed in numerous countries has impacted overall revenue. The increased consumer preference for boosting immunity has pushed consumers away from beer and other alcoholic beverages, preventing the establishment of the speciality malts industry. Customers are predicted to continue choosing healthy and non-alcoholic beverages in the upcoming years.

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