This growth is accompanied with the presence of numerous factors, about which FMI offers thorough insights and forecasts in this report.
New York, NY -- (SBWIRE) -- 10/26/2018 -- According to the latest market report published by Future Market Insights titled 'Malt Ingredients Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027', the revenue generated from malt ingredients is estimated to be valued over US$ 20,810.9 Mn in 2017, which is projected to increase at a CAGR of 4.8% during the forecast period.
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Malt Ingredients Market: Overview
The fusion of malt ingredients in the food industry is mainly due to the increasing demand for beer across the globe. The abundance of nutrients, accompanied with the rising health consciousness of people, is one of the key factors driving the growth of the global malt ingredients market. Apart from being a very nutritive source, malt ingredients contribute equally well as a source of fibre, complex carbohydrates, vital vitamins and proteins, which make it nutritionally rich food and beverage ingredients. The increasing consumption of beer products also exhibits a positive impact on the malt ingredients market.
The developing economies are expected to reveal a substantial growth over the retail chains across the globe. This, in turn, is expected to facilitate the demand for beer and consequently the demand for malt ingredients. Due to the growing preference of beer, independent breweries are coming up with innovative types of beer products accompanied by attractive advertisements, thus reducing a sense of authenticity to buy their products. Foremost brands are unceasingly gaining traction by launching premium range of beers, creating a long-term growth opportunity all over the globe for consumption of malt ingredients.
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Macroeconomic Factors Impacting Revenue Growth of the Malt Ingredients Market
Growing global demand for food: The per capita expenditure on food and beverages by the global population has witnessed a significant increase over the years. With the growing world population and healthier economic conditions, there will be more mouths to feed and more plates to fill. The changing trend of food and beverage consumption is likely to impact the transition of malt ingredient-based products for the middle class, which, in turn, is expected to increase the demand for malt ingredients in the preparation of malt-based products. The key reason behind this is increasing health consciousness among consumers, as malt ingredients are among the most preferred alternatives for lowering sugar level in beverages and enhance texture, flavour, and colour of beer. This increasing per capita expenditure is also expected to support the growth of the malt ingredients market.
Growing urbanization fueling the demand for nutritive food ingredients: Owing to employment scenarios, the migration of working population to tier-1 cities is expected to witness a significant increase over the forecast period, causing a major rise in the urbanization across the globe. Moreover, the contribution of growing economies is also expected to bolster the demand for malt ingredients over the forecast period. This increasing urbanization supported by the rising economic conditions is expected to contribute to the growth of the malt ingredients market. The growing demand for food, beverages, and pharmaceutical products has in turn led to progress of the malt ingredients market.
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Key Producers of Malt Ingredients Across the Globe
Examples of some of the major companies operating in the malt ingredients market are Cargill, Incorporated, Dohler GmbH, Ireks GmbH, Malteurop Group, Simpsons Malt Limited, The Soufflet Group, Axereal (BOORTMALT NV), Barmalt India Pvt. Ltd., GrainCorp Ltd., Viking Malt Oy, Cooperativa Agraria Agroindustrial, Vivescia Industries SCA, Polttimo Oy, Malt Products Corporation, Malteries Soufflet SAS, Muntons Plc., Crisp Malting Group, and Chunlei Malt Group Company, among others. The key players are focusing on expanding their production capacity for catering the market requirement as well as focusing on new product development of malt ingredients.