The Asia Pacific Malt Ingredient market size is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising awareness about the malt ingredient coupled with rising disposable income. Moreover, increasing consumer demand for craft beer and natural sweeteners are driving the market growth.
Malting is the process of processing the germinated cereal grains. Malt is a cereal grain, typically barley, which is dried on sprouting. Once dried, barley is mixed into a slightly sweet powder, known as malt.
Malt contains fiber, potassium, folate, and vitamin B6, which together aids in lowering cholesterol level and decrease the risk of cardiac diseases. Its dietary fiber helps to reduce insulin activity and increases cholesterol absorption from the gut.
The malt-based compound is handled as a soft drink flavor system and it does not require any special expertise or brewery technology. Malt-based beverages are free from alcohol, which increases its demand from the alcohol free beverage market. These beverages have appealing flavor or beer taste.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising development of versatile products derived from malt in order to utilize them in maximum applications is one of the major drivers that is contributing to the growth of the Asia Pacific malt ingredient market.
- Reduction in the production cost of malt ingredient is expected to augment the market growth.
- The expansion of the international vendors into new geographies, the regional vendors is expected to find it tough to compete with them, in terms of ingredients price and range, which can hinder the market growth.
- The outbreak of COVID-19 has negatively impacted the Asia Pacific malt ingredient market. However, the market is anticipated to recover soon.
- Manufacturers are producing powdered ingredient with high shelf life, which makes them easy to distribute in remote areas, propelling the market growth.
Scope of the Report
The report on the Asia Pacific malt ingredient market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Malt Ingredient Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Sources (Barley, Wheat, and Other Sources) and Applications (Food, Alcoholic Beverages, Non-alcoholic Beverages, Pharmaceuticals, and Animal Feed)
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Geography Scope
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India, China, Japan, Australia, and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Muntons Plc, Puremalt products Ltd., Society Cooperrative Agricole Axereal, Vivescia, Cragill Inc, Malteurop China, Jinan Shuangmai Beer Materials Co., Ltd., SHANGHAI NICECHEM CO., Barrett Burston Malting Company WA Pty Limited, Conagra Holdings, Gregory Street Pty Ltd, Joe White Malting, Cryermalt, and Halcyon Proteins
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Asia Pacific Malt Ingredient Market Segment Insights:
Barley segment to grow at a rapid pace
Based on sources, the market is divided into barley, wheat, and others. The barley segment is anticipated to account for a key share during the forecast period and is anticipated to grow at a steady rate during the forecast period. Barley malt is extensively used in alcohol-based beverages. It is a common staple food and a preferred cereal in many Asia Pacific-based countries, followed by wheat, corn, and rice. Barley malt syrup or extract provides a healthy food supplement for households. Thus, increasing consumption of barley for various applications is driving the segment growth.
Alcoholic beverages segment to account a major market share
Based on applications, the market is divided into food, alcoholic beverages, non-alcoholic beverages, pharmaceuticals, and animal feed. The alcoholic beverages segment is anticipated to account for a major market share during the forecast period. Increasing demand for alcohol beverages with delectable flavors is driving the market growth. On the other hand, the pharmaceuticals segment is expected to account for a considerable share of the market, as malt grains used in developing enzymes, which are further used in modifying ingredients, are heavily utilized in the pharmaceutical industry.
India to account a large market share
On the basis of geography, the market is segregated into India, China, Japan, Australia, and Rest of Asia Pacific. India to account for a large market share during the forecast period. The market in India consumes thousands of tons of barley malt for the production of distilled spirits. In such a scenario, a regulation in the prices of malt ingredients is expected to foster the growth of the market in the country.
Segments
Segments Covered in the Report
The Asia Pacific Malt Ingredient market has been segmented on the basis of
Sources
- Barley
- Wheat
- Other Sources
Applications
- Food
- Alcoholic Beverages
- Non-alcoholic Beverages
- Pharmaceuticals
- Animal Feed
- Others
Geography
- India
- China
- Japan
- Australia
- Rest of Asia Pacific
Key Players
- Puremalt products Ltd
- Muntons Plc
- Society Cooperrative Agricole Axereal
- Vivescia
- Cargill
- Malteurop China
- Jinan Shuangmai Beer Materials Co.
- SHANGHAI NICECHEM CO.
- Barrett Burston Malting Company WA Pty Limited
- Conagra Holdings
- Gregory Street Pty Ltd
- Joe White Malting
- Cryermalt
- Halcyon Proteins
Competitive Landscape
The major players of the market are Muntons Plc, Puremalt products Ltd., Society Cooperrative Agricole Axereal, Vivescia, Cragill Inc, Malteurop China, Jinan Shuangmai Beer Materials Co., Ltd., SHANGHAI NICECHEM CO., Barrett Burston Malting Company WA Pty Limited, Conagra Holdings, Gregory Street Pty Ltd, Joe White Malting, Cryermalt, Halcyon Proteins.
Companies are focusing on expansion, partnership and acquisitions to expand their market share.
