Global Malt and Malt Extracts Market Size By Type (Barley, Rye), By Application (Beer, Whisky), By Region, And Segment Forecasts, 2023 to 2032

The Global Malt and Malt Extracts Market was valued at USD 15.6 billion in 2023 and is projected to reach USD 23.9 billion by 2031, growing at a CAGR of 5.6% during the forecast period from 2023 to 2031. The rising demand for malt-based beverages, increasing health awareness among consumers, and the growing application of malt extracts in the food and beverage industry are major factors driving market growth. Malt and malt extracts are extensively used in brewing, confectionery, bakery, and dairy products, owing to their nutritional and functional properties.

Market Drivers

Growing Demand for Malt-based Beverages

The increasing popularity of craft beers, coupled with the expanding non-alcoholic malt beverage segment, is significantly driving the demand for malt and malt extracts worldwide.

Health and Wellness Trends

Consumers are increasingly opting for natural and minimally processed ingredients in their diets, boosting the use of malt extracts in health-focused food products and beverages.

Versatility Across Applications

Malt extracts are widely used as sweeteners, flavor enhancers, and nutritional additives, driving their adoption in multiple industries such as bakery, confectionery, and dairy.

Market Restraints

High Costs of Raw Materials

Fluctuations in the prices of barley, a primary raw material for malt production, can increase production costs, limiting market growth.

Stringent Regulatory Norms

Regulatory frameworks concerning food safety and labeling standards can pose challenges to market players, particularly in emerging markets.

Market Opportunities

Expansion in Emerging Markets

Rapid urbanization, increasing disposable incomes, and changing dietary habits in Asia-Pacific and Latin America present significant growth opportunities for the malt market.

Innovation in Product Development

The introduction of new flavors and formulations, such as gluten-free and organic malt extracts, can cater to niche consumer demands, fostering market expansion.

Market by System Type Insights

The Barley Malt segment dominated the market in 2023, driven by its extensive use in brewing and food applications. Other malt types, such as wheat and rye malt, are expected to witness steady growth due to their unique flavor profiles and expanding application areas.

Market by End-use Insights

The Brewing Industry emerged as the largest revenue contributor in 2023, holding over 45% of the market share. The Food and Beverage segment is also witnessing robust growth, driven by the increasing demand for natural ingredients in confectionery, bakery, and ready-to-eat products.

Market by Regional Insights

North America holds the largest market share, owing to the high demand for craft beer and malt-based food products.

The Asia-Pacific region is anticipated to witness the highest growth during the forecast period, driven by the rising popularity of malt-based beverages in countries like China, India, and Japan.

Competitive Scenario

Key players operating in the Global Malt and Malt Extracts Market include:

Malteurop Group

GrainCorp Malt

Cargill, Inc.

Axereal Group

Rahr Corporation

Simpsons Malt Ltd.

Muntons plc

Viking Malt Group

These companies are focusing on strategic partnerships, product innovations, and regional expansions to strengthen their market position.

Scope of Work – Global Malt and Malt Extracts Market