NEW YORK, April 14, 2022 (GLOBE NEWSWIRE) -- The global specialty malt market is currently valued at around US$ 4.8 Bn, and is predicted to expand 2X over the next ten years, as per industry analysis by Persistence Market Research.
Barley-sourced specialty malt contains a large amount of maltose, a sugar similar to fructose. It is also rich in amino acids and mineral salts such as magnesium, potassium, and sodium. It contains water, which makes it less sweet than traditional sugar, and is hence utilized as an alternative sweetener for sugar, honey, or sugarcane. Barley malt is a sugary product that is utilized to sweeten confectionery products and beverages.
Specialty malt is nutritious and rich in beneficial properties for the liver and the elimination of toxins. It also contains enzymes that favor general well-being of the stomach and digestion. Specialty malt is also used as a natural energizer, especially used by athletes, due to the presence of slow-release sugars. It contains maltol, which is said to have antitumor properties. It is low in calories and preferred by consumers who are on a low-calorie diet.
Moreover, demand for low-calorie food is being driven by growing health consciousness among consumers. Adding specialty malt instead of normal sugar reduces the overall carbohydrate level of the final product, and thus, such products are preferred by consumers.
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Low-calorie intense sweeteners are widely used by packaged food manufacturers, the bakery industry, as well as in the HoReCa (Hotels, Restaurants and Catering) sector. Natural low-calorie sweeteners such as specialty malt extracts are utilized as texturizing agents for various applications such as baked goods (cakes, breads, pretzels), cereals and snacks (confections, yogurts, protein bars), and beverages (energy drinks, malted shakes, beer).
All these advantages are expected to drive specialty malt sales at a CAGR of more than 7% over the forecast period of 2021 to 2031.
Key Takeaways from Market Study
- The market for specialty malt is expected to grow at CAGRs of 7.8% and 7.3% in Latin America and Middle East & Africa, respectively.
- Market share of South Asia and East Asia is 5.5% and 15.6%, respectively.
- The European specialty malt market is currently pegged at 1,075.40 KT.
- Based on product type, the energy drinks segment is expected to surge at a CAGR of 8.2%.
- Based on product type, roasted specialty malt accounts for 70.6% market share.
- Based on grade, brewing grade specialty malt accounts for 68.7% market value share.
- Based on source, barley is most used cereal, followed by wheat.
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“There is a high usage of specialty malt in the beverages industry because it has less diastatic power and provides color, body, taste, and texture to the final product,” says a Persistence Market Research analyst.
Competitive Landscape
Manufacturers of specialty malt are expected to continue to invest in the expanding their facilities and equipment in order to improve production to cater to growing demand.
- In 2020, Simpsons Malt acquired W.N Linday Ltd.’s grain merchanting business located in Keith, Morayshire. By this acquisition, Simpsons Malt will operate in four stores located in Scotland.
- In 2021, Patagonia malt acquired Halal certification for its range of products.
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Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global specialty malt market, presenting historical data (2016-2020) and estimation statistics for the forecast period of 2021-2031.
The study offers compelling insights based on product type (caramelized malt & roasted malt), grade (food grade and brewing grade), source (barley, wheat, rye, oat, and others), end use (food and beverages), and extract type (dry, liquid, and malt flour), across seven major regions of the world.
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