The
global demand for malt ingredients used in the bakery sector has
witnessed a massive rise in the past few years, thanks mostly to the
massive surge in the global consumption of bakery products,
especially the ones promising a high nutritious or ‘healthy’
quotient. With new products steadily being brought into the market,
companies focusing increasingly on new target audience such as
gluten-intolerant or vegan, and expansion of the gourmet bakery
sector to emerging markets, the global malt ingredient for bakery
market has further expanded.
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Other
factors to have worked in favour of the market so far include the
rising disposable incomes of people across developing economies, the
increased expenditure on value-added food products, and the increased
availability of organic and natural products and ingredients. In the
next few years as well, the market is expected to perform at a
promising pace. The report estimates that the global bakery industry
will exhibit a promising 6.6% CAGR over the period between 2016 and
2024, rising to a revenue opportunity of US$7.3 bn by 2024. Over the
same period, the demand for malt ingredients is expected to expand at
a moderate 4.7% CAGR.
In
the report, the global market for malt
ingredients for the bakery sector has been segmented based on
the key sources of malt into wheat, barley, and other varieties. Of
these, the segment of barley accounted for the dominant share of over
56.6% in 2015 and is likely to continue to account for the dominant
share over the forecast period as well. The segment of wheat is also
likely to expand at a favourable pace owing to the high production
and usage of wheat in a number of regional markets.
In
terms of the key products produces, the report segments the market
into dry malt, liquid malt, and malt flour. Of these, the segment of
malt flour is likely to account for the dominant share in the overall
market, followed by the segment of dry malt. The dry malt segment is
likely to emerge as the one with the most promising growth
opportunities, exhibiting an impressive 5.2% CAGR over the forecast
period in terms of volume. Based on application, the market has been
segmented in the report into biscuits, bread, brownie, cakes and
pastries, pizza, doughnut, and cookies. Of these, the segment of
cookies is likely to account for the dominant share in the market in
terms of volume owing to their high shelf life and popularity. The
segment of cakes and pastries is likely to remain the most promising
segment, exhibiting a CAGR Of 5.4% over the report’s forecast
period.
Some
of the leading companies in the global malt ingredient for bakery
market are Briess Malt & Ingredients Co., Malt Products
Corporation, Malteries Soufflet SAS, VIVESCIA Industries, Simpsons
Malt Limited, GrainCorp Malt Group, Muntons PLC., RAGLETH LTD.,
Polttimo Oy, Cargill, Inc., Dohler GmbH, IREKS GmbH, and Axereal
Group.
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