SEATTLE, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Malted milk and malt extracts are sweet and delicious drinks that have been enjoyed for hundreds of years. Malt extracts are used to give beers that unique and flavorful taste. Malted barley, wheat, oats, and salt are combined to make beer, and then the beer is fermented (fermented beer, not lagers) and then cooled to produce the alcoholic beverage which is known as ale. Malted milk and malt extracts are added during the maturation process to give that sweet, biscuit-like taste to the beer. Malt extracts are basically just water, malted barley, oats, and yeast, thrown into the fermenting process.
The Europe malt extracts market is estimated to account for 13,642.1 Mn in terms of value by the end of 2027, witnessing a CAGR of 5.7% during the forecast period (2020-2027)
Market Drivers:
Increasing production and consumption of craft beer in Europe is one of the key factors driving the growth of Europe malt extracts. According to Eurostat, Germany was the top producer of beer in 2018 with a production of 8.3 billion liters (or 21% of the EU total production). Moreover, the Netherlands exported 1.9 bn liters of beer containing alcohol in 2018. This made it the largest beer exporter of all EU Member States.
Increasing consumption of bakery products in Europe is fostering the growth of Europe malt extracts. Moreover, rapid growth in the food retail market in Germany is again projected to uplift the growth of the Europe malt extracts. According to the Germany trade &invest, total food retail revenue grew significantly reaching EUR 243 billion in 2017. Hence, rapid growth in the food retailing industry is fueling the growth of the Europe malt extract market.
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Market Opportunities:
Growing demand for clean label products owing to increasing health consciousness is expected to offer to provide lucrative opportunities to Europe malt extracts market. Additionally, the shifting preferences for natural and organic food products along with the growing demand for natural food flavors and colors from the food &beverage industry is also expected to bolster the growth of the malt extracts market.
The growing popularity for malt extracts-based beverages is expected to bring new opportunities to the European malt extracts market. Moreover, the increasing consumption of non-alcoholic beverages such as sports drinks and energy drinks among athletes is again projected to support the growth of the European malt extracts market. The regional market is also expected to gain traction on the account of an increasing number of people participating in sports activities. This is creating demand for healthy beverages which in turn fostering the growth of the European malt extracts market.
Market Trends:
Growing preferences for gluten-free malt extracts among consumers due to increasing health-conscious consumers is a trend in the market. This is attributed to the growing incidence and prevalence of obesity, joint pain, and other health-related issues. Also, the increasing geriatric population and gluten-free malt extracts are gaining huge demand among geriatric populations. Furthermore, the growing demand for sugar-free label products is another major trend in the market. Malt extracts eliminate the need for added sugars in food products and also reduce the need for artificial additives.
Increasing focus of key players to expand production capacities of the malt products is the current trend in the market. For instance, in October 2019, Puratos Group and Estonian Malt have announced the signature of a joint venture agreement launching ‘Puratos Malt’. The JV is the result of six years of close collaboration between the two companies and combines Estonian Malt’s expertise in sprouted and fermented whole grains with Puratos’ business insights and distribution network. The business goal of Puratos Malt is the production, sale, and distribution of malt flours and sprouted grains for the professional bakery, foodservice, and food industry sector and their customers.
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Competitive Landscape:
Major players engaged in the Europe malt extracts market are Axereal Group, Cargill, Incorporated, IREKS GmbH, Doehler Group SE, VIVESCIA Industries,Polttimo Oy, Malt Products Corporation, Malteries Soufflet SAS, Simpsons Malt Limited, Muntons Plc.
Market segmentation:
Europe Malt Extracts Market, By Application:
- Bakery
- Confectionary
- Beverages
- Alcoholic
- Non-Alcoholic
- Animal Feed
- Pharmaceuticals
Europe Malt Extracts Market, By Source:
- Barley
- Wheat
- Rice
- Rye
Europe Malt Extracts Market, By Product Form:
- Dry
- Liquid
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