Malt Ingredient Market: The Biggest Trends to Watch out for 2016-2024

The top three players in the global malt ingredient market for bakery, namely Group Soufflet, VIVESCIA Industries, and Cargill, Incorporated, accounted for a share of just under 30% in 2015, finds Transparency Market Research (TMR) in a new report. TMR states that emerging players play a major role in the development of this market, with a strong presence in North America, Europe, China, India, and Australia. “Manufacturers today are focused on developing high quality malt ingredient products and offer gluten-free products with high nutritional value,” the author of the report states. “The growing demand for value-added products has prompted manufacturers to shift focus from high volume production to high quality production instead,” says a TMR analyst.

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The global sales of malt ingredients for the bakery industry amounted to US$4.2 bn in 2015 and are expected to reach US$7.3 bn by the end of 2024. The sales revenue is expected to rise at a 6.6% CAGR over the course of the forecast period. The demand for malt ingredients, on the other hand, is projected to rise at a modest 4.7% CAGR.

Application-wise, Cookies Segment to Cross Billion-dollar Mark by 2024

Among the key applications, the cookies segment led the overall malt ingredient market for bakery and is estimated to cross the billion-dollar mark by the end of 2016 in terms of value. Exhibiting a 7.3% CAGR from 2016 to 2024, it is also projected to be the most rapidly expanding application segment during the forecast period. By source, the barley segment is anticipated to retain its dominance through 2024 in terms of both value and volume. It will also expand at a CAGR higher than any other source segment.

Geographically, North America is expected to present the highest value share as well as CAGR over the forecast period. This regional segment will register a 7.1% CAGR from 2016 to 2024. By revenue, dry malt is the leading product type in the malt ingredient market for bakery, while malt flour is the leading segment by volume consumption.

Efforts by Manufacturers to Produce Clean Label Products a Major Growth Driver

The growing shift in preference for natural and organic foods and the surge in awareness about the health benefits of such food products and ingredients have fueled the demand for malt ingredients in recent years, TMR finds. Malted barley extracts, for instance, replace sugar needed in bakery products. “Health conscious consumers prefer sugar-free or low-sugar variants of bakery items and this factor is anticipated to spur the demand for malt ingredients in the bakery industry in the near future as well,” the author of the study states.

Apart from this, strict government regulations pertaining to the use of food additives has compelled food manufacturers to focus on the production of clean label products by using less additives than before, with several manufacturers opting to remove them entirely from their product line. This switch to healthier ingredients for the production of various bakery items has spurred the demand for malt ingredients.

On the flip side, the shortage of grains, especially in recent years, has hampered the global market for malt ingredients in the bakery industry. “In addition to poor harvest in several malt grain producing regions around the world, the shortage of malt grains also results from the growing usage of malt ingredients in breweries and pharmaceutical industries,” the lead analyst points out.

Malt Ingredient Market: Cookies to Continue Leading Demand for Market

Global Malt Ingredient Market for Bakery: Snapshot

Over the recent past, the global malt ingredient market for bakery has been experiencing a sturdier rate of growth. This factor is primarily attributed to the increasing rates of bakery goods consumption, especially the ones that claim health benefits. The unbroken chain of new products being introduced, including gluten-free malt for the bakery industry, has further driven the global malt ingredient market. Other top drivers of the market include the increasing volume of disposable income among consumers, the increased per capita expenditure on value-added products, and the rising penetration of natural and organic ingredients and products. The global malt ingredient market for bakery is, however, currently being restrained by factors including the growing use of malt in distilleries and breweries.

Based on market value, the global malt ingredient market for bakery is expected to expand at a CAGR of 6.6% within the forecast period from 2016 to 2024. It is likely to reach US$7.3 bn by the end of 2024. The demand for malt ingredients, on the other hand, is projected to rise at a modest 4.7% CAGR for the same forecast period.

APAC Malt Demand to Skyrocket

The global malt ingredient market for bakery is segmented on the basis of geography into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The North America malt ingredient market for bakery is expected to be the leading contributor to the global market in terms of value as well as volume, followed by Europe. These markets are expected to register high growth rates between 2016 and 2024.

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The malt ingredient market for bakery in Asia Pacific is expected to gain substantial growth over the course of the forecast period owing to an expected high demand for healthy products from India, Japan, and China. The growth can also be attributed to the high spending capacity of buyers in the region.

Cookies to Continue Leading Demand for Malt Ingredients

The main sources of malt to be used in the bakery industry are barley, wheat, and others. The barley segment led the mail ingredient for bakery market with a revenue share of 56.6% in 2015 and is projected to maintain its dominance through 2024. The wheat segment is expected to exhibit favorable growth over the forecast period.

By product type, the malt flour segment is estimated to contribute significantly in terms of volume to the global malt ingredient market for bakery, followed by dry malt. The dry malt product segment is expected to register a high growth rate in the overall market through 2024, registering a 5.2% CAGR based on volume.

Among the key applications, cookies are estimated to form the leading segment by volume, followed by the biscuits segment. The cakes and pastries segment, on the other hand, is expected to be report the leading growth rate of 5.4% from 2016 to 2024.

On the basis of grade, the malt ingredient market for bakery is led by the standard segment, which is estimated to be valued at US$5.1 bn by 2024. Specialty ingredients are forecast to witness substantial growth in the near future.

Key players in the global malt ingredient market for bakery include Malteries Soufflet SAS, Simpsons Malt Limited, Malt Products Corporation, Briess Malt & Ingredients Co., Muntons PLC., Polttimo Oy, Dohler GmbH, VIVESCIA Industries, GrainCorp Malt Group, IREKS GmbH, Cargill, Inc., RAGLETH LTD., and Axereal Group.

Malt Ingredient Market Driven by Growing shift in Preference for Natural & Organic Foods

Malt Ingredient Market for Bakery: Snapshot

The global malt ingredient market for bakery has been witnessing steady growth over the recent past, attributed mainly to the rising consumption of bakery products with health benefits. The continuous introduction of new products such as gluten-free malt, especially in the bakery industry, has further driven the market. Other key factors contributing to the global malt ingredient for bakery market include the growing affluence of consumers, the increased per capita spending on value-added products, and the rising penetration of products with natural ingredients. However, factors such as the wide usage of malt in breweries and distilleries worldwide is expected to restrain the global market during the forecast period.

In terms of value, the global malt ingredient market for bakery is anticipated to expand at a CAGR of 6.6% during the forecast period to amount to US$7.3 bn by 2024. The demand for malt ingredients, on the other hand, is projected to rise at a modest 4.7% CAGR.

Cookies and Biscuits to Contribute Significantly to Global Malt Ingredient Market for Bakery

The main sources of malt to be used in the bakery industry are barley, wheat, and others. The barley segment led the mail ingredient for bakery market with a revenue share of 56.6% in 2015 and is projected to maintain its dominance through 2024. The wheat segment is expected to exhibit favorable growth over the forecast period.

By product type, the malt flour segment is estimated to contribute significantly in terms of volume to the global malt ingredient market for bakery, followed by dry malt. The dry malt product segment is expected to register a high growth rate in the overall market through 2024, registering a 5.2% CAGR in terms of volume.

Among the key applications, cookies are estimated to form the leading segment by volume, followed by the biscuits segment. The cakes and pastries segment, on the other hand, is expected to be report the leading growth rate of 5.4% from 2016 to 2024.

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On the basis of grade, the malt ingredient market for bakery is led by the standard segment, which is estimated to be valued at US$5.1 bn by 2024. Specialty ingredients are forecast to witness substantial growth in the near future.

High Growth in Store for Asia Pacific over Forecast Period

The global malt ingredient market for bakery is segmented on the basis of geography into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The North America malt ingredient market for bakery is expected to be the leading contributor to the global market in terms of value as well as volume, followed by Europe. These markets are expected to register high growth rates between 2016 and 2024, TMR states.

The malt ingredient market for bakery in Asia Pacific is expected to gain substantial growth over the course of the forecast period owing to an expected high demand for healthy products from India, Japan, and China. The growth can also be attributed to the high spending capacity of buyers in the region.

Key players in the global malt ingredient market for bakery include Simpsons Malt Limited, Malteries Soufflet SAS, Briess Malt & Ingredients Co., Malt Products Corporation, Polttimo Oy, Muntons plc, VIVESCIA Industries, Dohler GmbH, IREKS GmbH, GrainCorp Malt Group, RAGLETH LTD., Cargill, Incorporated, and Axereal Group.

Global Malt Ingredient Market: Demand for Healthier Food Items Spikes Consumption, Observes TMR

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

Global Sales of Malt Ingredients in Bakery Industry to Cross US$7.3 bn by the end of 2024, reports TMR

The top three players in the global malt ingredient market for bakery, namely Group Soufflet, VIVESCIA Industries, and Cargill, Incorporated, accounted for a share of just under 30% in 2015, finds Transparency Market Research (TMR) in a new report. TMR states that emerging players play a major role in the development of this market, with a strong presence in North America, Europe, China, India, and Australia. “Manufacturers today are focused on developing high quality malt ingredient products and offer gluten-free products with high nutritional value,” the author of the report states. “The growing demand for value-added products has prompted manufacturers to shift focus from high volume production to high quality production instead,” says a TMR analyst.

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The global sales of malt ingredients for the bakery industry amounted to US$4.2 bn in 2015 and are expected to reach US$7.3 bn by the end of 2024. The sales revenue is expected to rise at a 6.6% CAGR over the course of the forecast period. The demand for malt ingredients, on the other hand, is projected to rise at a modest 4.7% CAGR.

Application-wise, Cookies Segment to Cross Billion-dollar Mark by 2024

Among the key applications, the cookies segment led the overall malt ingredient market for bakery and is estimated to cross the billion-dollar mark by the end of 2016 in terms of value. Exhibiting a 7.3% CAGR from 2016 to 2024, it is also projected to be the most rapidly expanding application segment during the forecast period. By source, the barley segment is anticipated to retain its dominance through 2024 in terms of both value and volume. It will also expand at a CAGR higher than any other source segment.

Geographically, North America is expected to present the highest value share as well as CAGR over the forecast period. This regional segment will register a 7.1% CAGR from 2016 to 2024. By revenue, dry malt is the leading product type in the malt ingredient market for bakery, while malt flour is the leading segment by volume consumption.

Efforts by Manufacturers to Produce Clean Label Products a Major Growth Driver

The growing shift in preference for natural and organic foods and the surge in awareness about the health benefits of such food products and ingredients have fueled the demand for malt ingredients in recent years, TMR finds. Malted barley extracts, for instance, replace sugar needed in bakery products. “Health conscious consumers prefer sugar-free or low-sugar variants of bakery items and this factor is anticipated to spur the demand for malt ingredients in the bakery industry in the near future as well,” the author of the study states.

Apart from this, strict government regulations pertaining to the use of food additives has compelled food manufacturers to focus on the production of clean label products by using less additives than before, with several manufacturers opting to remove them entirely from their product line. This switch to healthier ingredients for the production of various bakery items has spurred the demand for malt ingredients.

On the flip side, the shortage of grains, especially in recent years, has hampered the global market for malt ingredients in the bakery industry. “In addition to poor harvest in several malt grain producing regions around the world, the shortage of malt grains also results from the growing usage of malt ingredients in breweries and pharmaceutical industries,” the lead analyst points out.

This review is based on the findings of a TMR report titled “Malt Ingredient Market for Bakery - 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

Global Malt Ingredient Market for Bakery, By Geography

North America

• U.S.
• Canada

Latin America

• Brazil
• Mexico
• Rest of Latin America

Europe

• Germany
• France
• U.K.
• Spain
• Italy
• Russia
• Poland
• Rest of Europe

Asia Pacific (APAC)

• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific

Middle East and Africa (MEA)

•   GCC
• Africa
• Rest of MEA