Major players in the specialty malt market are Malteurop Malting Company, Soufflet Group, Cargill Inc., GrainCorp Ltd., Axereal Group, Muntons Plc., Simpsons Malt Ltd., Viking Malt BV, IREKS GmbH, Crisp Malting, Rahr Corporation, Bar Malt India Pvt. Ltd., Great Western, Agromalte Agraria, Dun & Bradstreet Inc., Conagra Brands Inc., London Dairy Co Ltd., Danone SA, ADM, Daiya Foods Inc., Grupo Bimbo S.A.B.de CV, Associated British Foods PLC., General Mills Inc., Lantmännen Unibake, Aryzta AG, Vandemoortele NV, Europastry SA, Cole’s Quality Food Inc., Briess Malt & Ingredients Company, Canada Malting, and Anheuser Bush Inbev.
The global specialty malt market is expected to grow from $3.28 billion in 2022 to $3.47 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The specialty malt market is expected to grow to $4.26 billion in 2027 at a CAGR of 5.2%.
The specialty malt market consists of sales of light munich malt, dark munich malt, dextrin malt, wheat malt, rye malt, and naked oat malt.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Specialty malt refers to a variety of malts that differ in processing and grain type. Specialty malts frequently go through the same malting procedures as normal malts, but they’ve undergone additional treatments usually involving heat and moisture conditions intended to change their flavor, color, and functional properties.
North America was the largest region in the specialty malt market in 2022. The regions covered in the specialty malt market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of specialty malt are caramelized malt, roasted malt, and other products.Caramel malts provide beer with a distinct caramel flavor as a result of a further stewing process that occurs during malting, typically in a roasting drum, between germination and kilning.
It is obtained from barley, rye, and wheat and found in dry specialty malts, and liquid form which is further used for dairy and frozen products, bakery and confectionery, alcoholic beverages, non-alcoholic beverages, and other applications.
Rising demand for craft beer is expected to propel the growth of the specialty malt market going forward.Craft beer is a type of beer produced by specialty breweries.
They frequently operate independently and produce significantly less beer than large brewers.In the brewing process, malt is used to meet the carbohydrates required for fermentation and improve the mouthfeel of beer by lingering malt sweetness.
Also, malt contains a wide range of nutrients, including silica and vitamin B, which are far more abundant in beer than in wine or any other spirits and are retained throughout the brewing process.Hence, the rising demand for craft beer will increase the demand for specialty malt.
For instance, according to the Brewers Association, a US-based trade group of over 5,400 brewers, breweries in planning, suppliers, distributors, and craft beer retailers, in 2021, sales of beer in the United States as a whole increased by 1%, where the sales of beer by craft brewers increased by 8%, increasing their volume share of the market for beer to 13.1%. Therefore, the rising demand for craft beer is driving the demand for specialty malt market.
Product innovation is a key trend gaining popularity in the specialty malt market.Major companies operating in specialty malt market are focused on developing new and innovative products to sustain their market position.
For instance, in June 2020, Great Western Malting Co, a US-based specialty malt manufacturing company launched Light Munich Malt and Biscuit Rye Malt, the two new high-quality malts are a part of company’s wide variety of existing grain products produced with distinct flavor profiles sourced from the United States.
In October 2021, Murphy & Rude Malting Company, a US-based manufacturer and provider of primary specialty malt, partnered with Three Notch’d Brewing Company, a US-based brewing firm. With this partnership, Murphy & Rude will continue to provide malt to Three Notch’d Brewing Company which uses a variety of high-kilned, crystal, and dry roasted malts, including Vienna and Munich 9, C15 and C80, and a specially blended mix of its Milk Chocolate and Baker’s Cocoa roasted malts for their portfolio of flagships, seasonal, and special releases.
The countries covered in the specialty malt market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The specialty malt market research report is one of a series of new reports that provides specialty malt market statistics, including specialty malt industry global market size, regional shares, competitors with specialty malt market share, detailed specialty malt market segments, market trends, and opportunities, and any further data you may need to thrive in the specialty malt industry. This specialty malt market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.