Knowledge Sourcing Intelligence announces the publication of a new report on “Global Malt Extracts And Ingredients Market - Forecasts from 2020 to 2025” to their offering.
A combination of socio-economic factors, regulatory changes, digitalization, category challenges, emerging beverage start-up ecosystem, experience-seeking consumers, health and wellness concerns, rising investments in R&D are a few of the factors that are anticipated to catapult the market to stratospheric heights.
As per the report, the market pertaining to the Global Malt Extracts And Ingredients is expectedto reach US$37.624 billion by 2025, from US$29.615 billion in 2019.
Recently the global Food and Beverage industry has witnessed developments that have blurred the lines between traditional categories driven by new product development which increasingly includes cross over beverages, ready to drink offerings as well as energy drink offerings. For example, Nestle Australia has launched the world’s first version of a plant-based Milo, which reportedly consists of lower sugar content and is known as vegan consumable and is essentially a reduced-sugar malt drink in April 2020. Back in 2018, the producer of the renowned orange drink-concentrate of the 1980s, Rasna had reportedly entered the malt-based health drink category with chocolate-flavored Honey Vita and almond-flavoured Badam Vita under its health products range Native Haat. The products have been reportedly marketed as a health drink with less sugar content than its competitors namely, Mondelez International’s (NASDAQ: MDLZ) Cadbury Bournvita; GlaxoSmithKline’s (LSE: GSK, NYSE: GSK) Boost, and Zydus Wellness’s (NSE: ZYDUSWELL; BSE: 531335) Complan. The products also compete against the reportedly naturally derived Power Vita of Patanjali Ayurveda. Further, as a response to the application of malt in a wide variety of food and beverage products, a manufacturer of malted barley extract, among others, Malt Products Corporation had reportedly designed an Innovations Lab, located in its Minneapolis office to extend ingredient functionality assessment and enhanced prototyping for yogurts, chocolates, beverages, baked goods, and plant-based foods.
On the other hand, from the perspective of trade, according to the Observatory of Economic Complexity (OEC), in 2018 malt extract trade registered a total value of $23.1 billion. Further, between 2017 and 2018 the exports of malt extract grew by 11.1%, from $20.8 billion to $23.1 billion. In 2018 the leading exporters were the Netherlands with an export value of $3.15 billion, Germany with an export value of $2.27 billion, France with an export value of $2.03 billion, Ireland with an export value of $2 billion, Singapore with an export value of $1.42 billion and with an import value of 4.27 billion China led the pool of importers of malt extract for the same year. Also, in May 2020, the U.S. Department of Agriculture (USDA) had reputed a total import value of $1.5 billion of barley registered by China in 2019, mainly intended towards feed and for malt beverage production. Further in August 2020, USDA had reported that barley imports are projected at a historical high of 320,000 tons during Mexico’s trade year 2019/20 (Oct – Sep). Further, the European Union exports of barley to Mexico have been reportedly strong with higher unit values which are determinative of malting quality. The EU also has reportedly offered favorable buying terms which are incentivizing major Mexican brewers to procure barley form the EU, especially due to the reported expansion of beer consumption in Mexico and its consequent production.
Recognizing the aforementioned, and reaffirming the forecasted global malt extracts and ingredients market growth, Malteurop, a part of VIVESCIA, had reportedly announced in September 2019 the construction of a new malt house in Mexico, in Meoqui of Chihuahua state of the northern part of the country with an estimated annual production capacity of 120,000 tons, reportedly to be operational during the second semester of 2021. Further, cooperatives are increasingly foraying into this market too as evidenced by the French agriculture cooperative AXEREAL’s reported acquisition of CARGILL’s malt business in November 2019, on behalf of its subsidiary, BOORTMALT with the strategic rationale of investing in the downstream of barley to increase the value of our farmers' production in France as well as in the international markets with a special focus of the developing markets as well as enabling it to diversify the group’s sources of value concomitantly bolstering the group's position in the malt production business. The acquisition includes the total production capacity of 1.7 million tons.
As a part of the report, the major players operating in the global malt extracts and ingredients market, which have been covered are Senson, Muntons plc, Mangrove Jack's, BSGi NZ Ltd., Malt Company (India) Pvt Ltd., Mahalaxmi, IREKS GmbH, Imperial Malts Ltd., Döhler GmbH, Briess Malt & Ingredients, and BARMALT MALTING INDIA PVT. LTD.
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This report segmented the global malt extracts and ingredients market on the basis following terms