VIVESCIA
Industries, Group Soufflet, and Cargill, Incorporated collectively
held a share of about 30% in the global malt ingredient market in
2015. Players in the market are expected to focus on developing good
quality malt ingredient and other gluten-free products. The growing
awareness about eating healthy is expected to be the undercurrent of
the growth of the global market in the near future.
The
research report states that the global
malt ingredient market for bakery is likely to reach a valuation
of US$7.3bn by the end of 2024 from US$4.2 bn in 2015. The steady
progress of CAGR 6.6% will be due to changing lifestyle of consumers.
Cookies
Segment to Lead Global Market due to High Penetration and Sales
The
demand for malt ingredient in making bakery products is expected to
rise in the coming years as the food habits are being characterized
by natural and organic items. The awareness about health benefits of
consuming malt over the sweeteners has also augmented the demand for
this product in recent years. Furthermore, the fact that malt is rich
in enzymes and vitamins, which translates into higher nutritional
value of baked products, is also expected to favor the market growth.
Additionally, increasing consumption of confectionary and bakery
items has also spiked the demand for malt ingredients. The various
types of malt ingredients available in the global market are liquid
market, dry malt, malt flour, and others.
These
products are predominantly being used for the production of cookies,
which is closely followed by biscuits. “The convenience of
consuming these items, relatively high nutritional value, and
availability of a wide range of flavors is expected to keep the
cookies and the biscuits segment in the lead,” states the lead
author of this research report. The other applications of malt
ingredient are seen in bread, brownie, cakes and pastries, doughnuts,
and pizza production. Analysts expect that the cookies segment will
expand at a CAGR of 7.3% CAGR between 2016 and 2024 due its
penetration and high sales.
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North
America Malt Ingredient Market for Bakery to Expand at CAGR of 7.1%
2016-2024
Geographically,
the global malt ingredient market for bakery is segmented into North
America, Europe, Latin America, and the Middle East and Africa. Of
these, North America is anticipated to lead the pack as it promises
to surge at a CAGR of 7.1% between 2016 and 2024. Analysts anticipate
Asia Pacific to also show steady progress as the emerging economies
in the region are poised to encourage the baking and confectionary
industry. Additionally, demand for malt ingredient in Asia Pacific
will be supported by countries such as China, Japan, and India with
the improving purchasing power of consumers.
Inroads
of Breweries and Pharmaceutical Companies on Malt Harvest to Impede
Growth
Despite
the steady market drivers, the global malt ingredient market for
bakery is being hampered by the shortage of grains. The impact of
protean weather conditions has exacerbated the harvest of malt
grains, which has significantly restrained the market over the past
few years. Furthermore, inroads of pharmaceutical companies and
breweries into overall malt produce has also led to grain shortage to
a noticeable extent. However, stringent regulations set by the
governments about food additives has encouraged food labels to focus
on packaging cleaner and healthier items. This factor is expected to
offer several lucrative opportunities to the overall market.
The
aforementioned analysis of the market is based on Transparency Market
Research’s report, titled “Malt Ingredient Market for Bakery
(Product Type - Dry Malt, Liquid Malt, Malt Flour; Grade –
Standard, Specialty; Source - Barley, Wheat; Application - Bread,
Biscuits, Brownie, Cookies, Cakes & Pastries, Doughnuts, Pizza) -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2016 - 2024.”
Global
Malt Ingredient Market for Bakery, By Product Type
- Dry Malt
- Liquid Malt
- Malt Flour
- Others
Global
Malt Ingredient Market for Bakery, By Source
- Barley
- Wheat
- Others
Global
Malt Ingredient Market for Bakery, By Application
- Bread
- Biscuits
- Brownie
- Cookies
- Cakes & Pastries
- Doughnuts
- Pizza
- Others
Global
Malt Ingredient Market for Bakery, By Grade
- Standard
- Specialty
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