The flour milling and malt manufacturing industry in the US demonstrated notable fluctuations between 2013 and 2023, with gross output standing at $22.35 billion in 2023. The industry encountered variable growth, including a significant dip in 2015 with a -9.21% year-on-year change. Following that, the industry gradually recuperated with small but consistent increases, highlighted by a 1.53% growth in 2023. The most recent 5-year CAGR until 2023 was 1.65%, reflecting manageable and steady progress.
Future projections from 2024 to 2028 suggest continued moderate growth with an anticipated CAGR of 1.08%, leading to an estimated gross output of $23.94 billion by 2028. This forecasted growth aligns with the historical trend of gradual advancement.
Trends to watch for include:
- Increasing demand for healthier grains and organic malt products.
- Technological advancements in milling processes to boost efficiency.
- Potential impacts of global supply chain disruptions.
- Shifts in consumer preferences driving innovations in flour and malt product offerings.
