Malted Milk Food Global Market Report 2024

Malted milk food refers to products created by blending milk with the liquid obtained from a mash of barley malt and wheat flour. This blend results in a malted milk food with high-quality nutritional value, offering convenience, digestibility, and palatability. It serves as a beneficial supplement to enhance memory, immunity, and concentration.

The primary sources for malted milk foods are wheat, barley, and others. Wheat malted milk foods, made from wheat, may include flavoring agents and spices. These additives aid in converting starch to simple sugars during the mashing process and contribute to higher levels of proteins and fat. Malted milk foods come in different product types, such as milk and powder, and are packaged in tins, jars, carton packs, and other forms. Distribution channels for malted milk foods include hypermarkets/supermarkets, convenience stores, online retailers, and other outlets.

The malted milk foods market research report is one of a series of new reports that provides malted milk foods market statistics, including malted milk foods industry global market size, regional shares, competitors with a malted milk foods market share, detailed malted milk foods market segments, market trends and opportunities, and any further data you may need to thrive in the malted milk foods industry. This malted milk foods market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The malted milk food market size has grown strongly in recent years. It will grow from $6.46 billion in 2023 to $6.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The expansion observed in the historical period can be attributed to several factors, including the traditional use of malted milk in beverages and confectionery, the nutritional benefits and high nutrient density of malted milk, consumer preferences for healthier and natural ingredients, the growth in the dairy and dairy-based products industry, the application of malted milk in bakery and breakfast cereals, and the overall expansion of the food processing and beverage industries.

The malted milk food market size is expected to see strong growth in the next few years. It will grow to $9.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The projected growth in the forecast period can be attributed to the increasing demand for fortified and functional foods, heightened consumer awareness of nutritional benefits, the expansion of the health and wellness market segment, a growing preference for plant-based malted milk alternatives, the emergence of new markets, and changing consumer preferences. Noteworthy trends expected in this period encompass the incorporation of malted milk in functional and sports nutrition products, the development of flavored and specialty malted milk varieties, the utilization of malted milk in ice creams and frozen desserts, the integration of malted milk in baked goods and snacks, and an emphasis on clean label and non-GMO claims for malted milk products.

The anticipated increase in demand for flavored milk is expected to be a significant driver for the malted milk food market in the forecast period. Flavored milk, a sweetened dairy drink containing milk, sugar, flavorings, and food colorings, is preferred for its nutritional value and lower sugar content compared to juices and sports drinks. This rise in flavored milk consumption subsequently boosts the demand for malted milk foods, known for their rich nutrition and malt-liquid-infused flavors. As of November 2021, reports from the Dairy Foods Magazine indicated a 4.8% increase in flavored milk sales, reaching $1,646.5 million in sales dollars, with a 1.0% increase in sales units to $658.2 million. Thus, the growing demand for flavored milk is poised to contribute significantly to the expansion of the malted milk food market.

The ongoing prevalence of e-commerce is expected to drive the future growth of the malted milk food market. E-commerce, involving online transactions between businesses and consumers, provides a convenient platform for purchasing goods and services. Malted milk food products benefit from the e-commerce trend by offering consumers convenience, variety, and accessibility. The ease of online ordering makes these products readily available to consumers, irrespective of their location. According to the United States Census Bureau's data from August 2023, e-commerce in the second quarter of 2023 increased by 7.5%, accounting for 15.4% of all sales. This surge in e-commerce is a key factor propelling the growth of the malted milk food market.

A prominent trend in the malted milk food market is the emphasis on natural ingredients by manufacturers. Key players in the market are focusing on incorporating natural ingredients into their products to enhance nutritional value and solidify their market position. Natural ingredients, derived from plants, animals, minerals, or microbes, offer health benefits and essential nutrients. For example, in February 2022, Nestle S.A. launched a plant-based Milo chocolate malt drink, catering to individuals following plant-based diets, lactose intolerant individuals, or those preferring dairy-free options. This move aligns with the growing trend of plant-based substitutes in the market.

Major companies in the malted milk food market are driving revenues through innovative products, such as the introduction of Molto, a new range featuring canned foods, flavored milk, and malt-based foods. Canned foods, flavored milk, and malt-based foods refer to products that have undergone processing, preparation, and preservation, providing consumers with convenient and diverse options. For instance, in June 2023, Kwality Milk Foods Ltd., an India-based company, launched the SONA range under the Molto brand, offering Full Cream Milk and Standardized Milk in Southern states. The company, known for its dairy products, aims to expand its product line with innovative offerings.

In July 2023, Richardson International Limited, a Canadian agribusiness company, acquired Ragleth Ltd. for an undisclosed amount. Through this acquisition, Richardson's aims to broaden its business and enhance its presence in the food manufacturing sector. Ragleth Ltd., based in the UK, specializes in the manufacturing of malted milk foods, and this acquisition provides Richardson's with new business opportunities and access to new ingredients.

Major companies operating in the malted milk food market include Nestle SA, GlaxoSmithKline PLC, Briess Malt & Ingredients Inc., Imperial Malts Ltd., SSP Pvt Ltd., Abbott Laboratories, Danone S.A., Mead Johnson Nutrition Company, Kraft Heinz Company, Hain Celestial Group Inc., Honest Company Inc., Nature's One Inc., HiPP GmbH & Co. Vertrieb KG, Ausnutria Dairy Corporation Ltd., Synutra International Inc., Beingmate Baby & Child Food Co. Ltd., Inner Mongolia Yili Industrial Group Company Limited, Feihe International Inc., Biostime International Holdings Limited, Wissun International Group Co. Ltd., Otsuka Holdings Co. Ltd., Morinaga Milk Industry Co. Ltd., Yakult Honsha Co. Ltd., FrieslandCampina NV, Meiji Holdings Co. Ltd., Arla Foods amba, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Hero Group, Bellamy's Organic Ltd.

Asia-Pacific was the largest region in the malted milk foods market share in 2023. The regions covered in the global malted milk foods market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the malted milk foods market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The malted milk market consists of sales of barley, wheat, oats, and rice. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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