by Malted barley is known for its use in making beer, whiskey, and various other alcoholic and non-alcoholic beverages. Malted barley provides fermentable sugars and other constituents that contribute to the flavor and color of beverages. The global malting industry processes barley into malt, an essential ingredient for brewing beer. Malt extract is produced by concentrated wort from malted barley grains that is used for making various drinks and food products. Some key applications of malted barley include brewing, distilling, food and snacks, pharmaceuticals, and animal feed. The beer industry is one of the largest end-users for malted barley, with lager beer witnessing the highest demand globally.
The global malted barley Market is estimated to be valued at US$ 8.99 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growing beverage industry around the world is expected to drive the global malted barley market during the forecast period. The beer industry has witnessed significant growth over the years owing to rising socializing and partying culture, especially among millennials and young adults. According to research, the global beer market was valued at US$ 628.7 billion in 2019 and is projected to grow at a CAGR of 3% from 2020 to 2027. Malted barley is the most important raw material in beer production, accounting for over 80% of the total ingredients. Thus, growing demand for beer and other malt-based beverages is likely to propel the need for malted barley during the forecast years.
Furthermore, the increasing popularity of craft beers is also fueling market growth. Craft breweries use premium quality malted barley varieties in small batches to produce unique specialty beers. With rising health-consciousness, manufacturers are developing low-calorie, low-carb, and gluten-free malted barley products, which is creating new opportunities in the non-alcoholic beverage segment.
Segment Analysis
The global malted barley market can be segmented on the basis of source, form, grade, application and region. On the basis of source, the market is segmented into two-row barley and six-row barley. The six-row barley segment dominates the market and accounts for around 65% share as it contains more dietary fiber than two-row barley. On the basis of form, the market is segmented into dry extract, malt syrup and malt. The malt segment dominates as it is widely used in the production of beer.
PEST Analysis
Political: There are no specific regulations regarding malted barley production and trade across major countries. However, regulations regarding alcohol content and sales of final products impact the malted barley market.
Economic: Growing beer consumption globally, especially in developing economies is a key driver of market growth. Higher disposable incomes have increased on-premise and off-premise beer consumption.
Social: Changing lifestyles and socialization around beer drinking in pubs and bars has supported market expansion. Malted barley is a key ingredient providing color, flavor and aroma to various types of beers preferred across regions.
Technological: Technologies have been developed for efficient malting, drying and transport of malted barley. Advancements in brewing technologies aid consistent production of different beer styles using customized malted barley varieties.
Key Takeaways
The Global Malted Barley Market Size is expected to witness high growth at a CAGR of 7.6% during the forecast period of 2023 to 2030. The dominating regional market is Asia Pacific with China accounting for the largest share due to high beer consumption. China dominates the Asia Pacific market with over 35% share majorly attributed to increasing consumption of locally brewed beer.
Key players operating in the malted barley market are Pfizer Inc., Novartis AG, Merck & Co., Inc., Celgene Corporation, AstraZeneca PLC, Astellas Pharma Inc., AbbVie Inc., F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, and Johnson & Johnson (Janssen Global Services, LLC), among others. Key players like Anheuser-Busch InBev dominates the market with innovations in malted barley varieties and expansion of product portfolio to suit regional tastes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
