Malt beverage is a fermented drink in which the principal component is the grain, or seed, of the barley plant. The cereals are primarily kept in water for germination; later they are dried, boiled and processed into dry powder. The dry powder is also known as malt which is supplemented with vitamins, minerals, fiber and protein for adding nutritional value. Malt contains half sweet as normal sugar and generally used as a healthier alternative sweetener. Malted Beverage has gained remarkable popularity in last few years across the globe. Malt beverage market in recent years has surged in sales of non-alcoholic malt beverages, mainly due to refined taste and the wider choice of flavors as well as the growing health concerns associated with sugar drinks.
Malt beverages have gained broad consumer preferences over the years as the key stakeholders are offering the variety of products. The malt beverage products provide functional health benefits promote wellbeing and indulgence. Malt beverage market is projected to grow at a CAGR of more than 10% for next five years.
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Malt beverage market is expected to show healthy CAGR in the next four to five years. Major drivers that promote the growth of the malt beverages market increase in health conscious consumers coupled with rising consumer preferences for organic malt in the beverages. The breweries are focusing on using organic malt in beer. Rising prices of malt beverages in coming years is a major restraining factor expected to slow down the current growth trends
Malt Beverages Market Segmentation
Malt beverages market can be segmented by product type, by application, and by regions. By product type, malt beverages market is segmented as flavored, and unflavored. The flavored products segment is further segmented into apple, peach, lemon, pomegranate, raspberry, strawberry and pineapple. Furthermore, by application, the malt beverages market is segmented as alcoholic beverages and non-alcoholic beverages.
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Region further segments malt beverage market as, Latin America, North America, Europe, Middle East and Africa and Asia Pacific. In regional segments, Asia-Pacific and North America possess major potential whereas, Europe and other developing markets such as Latin America and MEA possess growth opportunities for growing demand for malt beverages over the forecast period. Malt beverages are gaining popularity in MEA region as people here refrain consuming alcohol beverages for religious reasons, but still, like the aromatic beer. Manufacturers are focusing on tapping the target consumers by supplying varied products of malt beverages.
Malt Beverages Global Market Trends and Market Drivers:
Malt beverage market has been dominantly driven by the huge demand for flavored drinks, especially the growing consumer trend for flavored drinks consumption. The surge currently experienced by the flavored drink industry is the primary factor that is augmenting the demand for malt beverages globally. Flavored drinks are demanded at large scale and are now considered the important part of human wellbeing globally, and are not harmful in comparison to alcoholic drinks. The extended use of malt in the beverage industry, wherein it is used for the variety of flavored products, is further increasing the demand for malt beverages. Additionally, the use of organic malt in making flavored products is also expected to contribute to growth rate during the forecast period. Easy availability of flavored malted beverages in retail shops, supermarket/ hypermarket, and online stores is one of the key drivers of malt beverages market.
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Malt Beverages Market Key Players:
Key global market players manufacturing different type of quinoa products include Anheuser-Busch Malt Beverages, Asahi Breweries Malt Beverages, Bavaria Brewery Malt Beverages, Ceres Brewery Malt Beverages, Fayrouz, Coors Brewing Company Malt Beverages, Moussy, Guinness Nigeria Malt Beverages, Nestle SA, and Suntory International Corporation