by Malted barley is produced from germinated barley grains and is used as a taste and aroma enhancer in alcoholic beverages like beer. It imparts sweet flavor and ensures clarity in beer. The surging demand for premium beers worldwide has been fueling the requirement of malted barley. With growing preference for craft beers among millennials and changing lifestyle patterns, the consumption of beers has escalated dramatically. Moreover, rising disposable income and growing socializing trend has amplified beer drinking culture 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 key trends:
The spiraling demand for alcoholic beverages especially craft and premium beers across developed nations has been a key driver augmenting the malted barley market growth. As per recent industry estimates, beer drinking population in United States grew by 5% from 2014 to 2018. Moreover, barley farming has also witnessed a revival in countries like United States and Canada to cater to the ascending needs of flourishing craft beer industry. Furthermore, manufacturers are developing new malted barley varieties through advanced breeding techniques to produce specialty malts required for unique flavors in craft beers. This has translated into significant opportunities for malted barley producers and assured remarkable revenues and profits generation over the forecast period.
SWOT Analysis
Strength: Malted barley provides various health benefits such as reducing diabetes, heart diseases risk and improving gut health and digestion. It is a natural and sustainable ingredient and does not require extensive processing.
Weakness: High production and transportation costs associated with malted barley increases the overall costs. Seasonal availability of raw materials and dependency on climate conditions poses supply chain challenges.
Opportunity: Increasing popularity of craft beer around the world presents an opportunity to boost malted barley demand. Rising health consciousness among consumers is driving the demand for healthy and nutritious food and beverages where malted barley can be used.
Threats: Presence of alternative ingredients that can be used in place of malted barley in beverages and food industries poses competition. Stringent regulations regarding mycotoxin contamination during malting process increases compliance costs.
Key Takeaways
The Global Malted Barley Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market size was valued at US$ 8.99 Bn in 2023 and is anticipated to reach US$ 15.33 Bn by 2030, growing at a CAGR of 7.6%.
Regional analysis: Europe dominated the malted barley market with over 35% share in 2023 owing to significant production of craft beer in countries like Germany, UK and Belgium. However, Asia Pacific is projected to grow at the fastest pace during the forecast period driven by increasing consumption of beer, whisky and food products in China, India and other developing countries.
Key players operating in the malted barley market include 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. These players are focused on adopting innovative production technologies and equipment to meet the growing demand while ensuring stringent quality and safety standards are followed.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
