Malted Milk Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Global Malted Milk Market is forecasted to grow at a CAGR of 8.6% during the forecast period (2020 - 2025).

Key Highlights

• Malted milk is a formulation of malted grain flour, whole milk powder and other ingredients which are used as a flavoring and fortification ingredients in food and beverages.
• Malted milk originates in North America and Western Europe, also, demand for malted milk has grown considerably in Asia-Pacific region as well. In these countries, health positioning is the major driving force for the growth of the malted milk market.

Key Market Trends

Growing Demand for Malted Milk Powder

Malted milk powder is obtained by evaporating or vacuum dried whole milk and also by the mixture of wheat flour and malted barley. Malted milk powder is also blended with other flavoring powders to complement its flavor such as with cocoa powder. Malted milk powder has a good mouthfeel along with sweetness, which has increased its demand in food, snaking products as well as in beverages. Moreover, innovations in bite-sized snacks, such as malted milk powder cookies and other baked products, are projected to boost the demand. In addition, rising demand for flavored milk is likely to contribute to the industry growth.

Asia Pacific is expected to be the Fastest-Growing Region

Asia Pacific is expected to be the fastest-growing, regional market during the forecast period. This growth can be attributed to the rising target population in countries, such as India, Japan, and China, and growing awareness about following a healthy lifestyle. In addition, product portfolio extension by key companies through innovations will have a positive impact on the regional market growth. Moreover, increasing urbanization, changing consumer preferences and rising disposable income of the middle-class population is further anticipated to drive demand for malted food drinks in the country.

Competitive Landscape

Manufacturers in the market have undertaken several marketing strategies, such as product innovation, mergers and acquisition, and expansions, to gain a higher market share. Some of the major players in the global malted milk market are Nestle S.A, GlaxoSmithKline PLC (HORLICKS), Imperial Malts Ltd, King Arthur Flour Company, Inc., Briess Malt & Ingredients, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support