Specialty Malt Global Market Report 2024

The global specialty malt market has grown strongly in recent years. It will grow from $3.46 billion in 2023 to $3.66 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth observed in the historical period can be attributed to several key factors, including the craft brewing revolution, shifts in consumer taste preferences, the prominence of artisanal and small-scale production methods, the rise of microbreweries, and a heightened emphasis on incorporating regional and local ingredients into brewing practices.

The global specialty malt market is expected to see strong growth in the next few years. It will grow to $4.61 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period is driven by several factors, notably the preferences of health-conscious consumers, the expansion of barley varieties, changes in consumer lifestyles, an increasing demand for organic malt, and the expanding reach of e-commerce platforms. Additionally, major trends projected for this period include the regulatory impact on labeling and production practices, a growing diversity in malt profiles, the emergence of innovative beer styles, the rising popularity of health-conscious beverage choices, and a consumer preference for unique and flavored beers.

The specialty malt market is anticipated to experience significant growth, propelled by the rising demand for craft beer. Craft beer, produced by specialty breweries often operating independently and on a smaller scale, relies on malt in the brewing process to meet carbohydrate needs for fermentation and enhance the beer's mouthfeel with lingering malt sweetness. Malt also brings a range of nutrients, including silica and vitamin B, making craft beer a rich source compared to other spirits. The demand for craft beer has been on the rise, as indicated by the Brewers Association's data in 2021, which reported an 8% increase in sales of beer by craft brewers, reaching a volume share of 13.1% in the overall beer market. This surge in craft beer consumption is driving the demand for specialty malt in the market.

Another significant driver for the specialty malt market is the growing preference for clean-label products. Clean label refers to food and consumer products with transparent and easily understandable ingredient lists, avoiding artificial additives and chemicals. Specialty malts, known for their use in clean-label products, provide a combination of naturalness, flavor enhancement, and transparent ingredients. The International Food Information Council's 2021 Food and Health Survey revealed that 64% of US adults choose foods with clean-label ingredients. This increasing consumer preference for clean-label products is contributing to the growth of the specialty malt market.

Innovation in product offerings is a key strategy among major companies in the specialty malt market. For instance, Southern Health Foods Private Limited, an Indian-based company, launched Manna Go Grains Malt in March 2021. This health and nutrition drink for kids is formulated to address growth, immunity, and nutrition needs. Manna Go Grains Malt, a unique multigrain-based instant drink mix, provides 33% of the Recommended Dietary Allowance (RDA) for 24 essential micronutrients, offering benefits such as physical growth, mental development, stamina, stronger bones, and immunity. The product, available in classic malt and chocolate flavors, is fortified with essential vitamins and minerals, reflecting the company's commitment to innovation and meeting the diverse nutritional needs of consumers in the specialty malt market.

Major players in the specialty malt market are demonstrating innovation through the introduction of new products, exemplified by offerings such as Godawan Century. Launched by Diageo India, an India-based beverage and alcohol company, Godawan Century is an artisanal single malt paying tribute to the heritage, culture, and flavors of Rajasthan. This limited-edition single malt, released in May 2021, is a bespoke 100-bottle batch featuring a distinctive image of the Great Indian Bustard, known as Godawan, on a custom label. The cases for each bottle are carefully crafted from old whiskey casks previously used for maturing the liquid. This product showcases Diageo India's commitment to providing unique and culturally inspired offerings in the specialty malt market.

In an instance of industry collaboration and innovation, Murphy & Rude Malting Company, a US-based manufacturer and primary provider of specialty malt, formed a partnership with Three Notch'd Brewing Company, a US-based brewing firm, in October 2021. Under this collaboration, Murphy & Rude continues to supply malt to Three Notch'd Brewing Company, which utilizes a variety of high-kilned, crystal, and dry roasted malts, including Vienna and Munich 9, C15 and C80, and a specially blended mix of its Milk Chocolate and Baker's Cocoa roasted malts. This partnership reflects the commitment to quality ingredients and the utilization of diverse malt varieties to enhance the flavor profiles of the brewing company's flagship, seasonal, and special release beers. The collaboration highlights the importance of partnerships in driving innovation within the specialty malt market.

Major companies operating in the specialty malt market report are Malteurop Malting Company, Soufflet Group, Cargill Inc., GrainCorp Ltd., Axereal Group, Muntons Plc., Simpsons Malt Ltd., Viking Malt BV, IREKS GmbH, Crisp Malting Group Ltd., Rahr Corporation, Bar Malt India Pvt. Ltd., Great Western Malting Co., Agromalte Agraria, Dun & Bradstreet Inc., Conagra Brands Inc., London Dairy Co Ltd., Danone SA, Archer Daniels Midland Company, Daiya Foods Inc., Grupo Bimbo S.A.B.de CV, Associated British Foods PLC., General Mills Inc., Lantmännen Unibake, Aryzta AG, Vandemoortele NV, Europastry SA, Cole’s Quality Foods Inc., Briess Malt & Ingredients Company, Canada Malting Company, Anheuser-Busch InBev SA/NV

North America was the largest region in the specialty malt market in 2023. The regions covered in the specialty malt market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the specialty malt market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products derived from specialty malt include caramelized malt, roasted malt, and other specialized variants. Caramel malts, for instance, impart a unique caramel flavor to beer due to an additional stewing process during malting, often conducted in a roasting drum between germination and kilning stages. These malts are derived from barley, rye, and wheat, and are available in both dry specialty malt and liquid forms. They find application across various industries, including dairy and frozen products, bakery and confectionery items, alcoholic and non-alcoholic beverages, as well as other diverse applications.

This report provides specialty malt market statistics, including specialty malt industry global market size, regional shares, competitors with specialty malt market share, detailed specialty malt market segments, market trends, and opportunities, and any further data you may need to thrive in the specialty malt industry. This specialty malt market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The specialty malt market consists of sales of light munich malt, dark munich malt, dextrin malt, wheat malt, rye malt, and naked oat malt. 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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