Malted Milk Market to Reach $3.3 billion, Globally, by 2032 at 5.8% CAGR: Allied Market Research

A significant driver that propels the malted milk market growth is the increase in consumer demand for versatile and nutritionally enriched beverages. Malted milk, known for its unique combination of malted barley, wheat flour, and evaporated whole milk, has gained popularity as a wholesome and flavorful option.

Wilmington, Delaware, March 13, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Malted Milk Market by Source (Barley, Wheat, and Rye), Product Type (Dry and Liquid), and Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Sales Channels, and Business to Business): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global Malted Milk industry generated $1.9 billion in 2022 and is anticipated to generate $3.3 billion by 2031, witnessing a CAGR of 5.8% from 2023 to 2032.

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Prime determinants of growth

The adaptability of malted milk in various culinary applications, from traditional malted milkshakes to innovative recipes in the culinary and baking sectors, contributes to its expanding market presence. The versatility of malted milk aligns with contemporary consumer preferences, driving its incorporation into a diverse range of products. However, malt has numerous side effects as well. Malt uncommonly induces symptoms of food allergy in sensitized individuals, including Baker’s asthma, urticaria, facial itching, Quincke edema, systemic symptoms, and anaphylaxis which is likely to restraint the market growth. An emerging trend in health-conscious consumer preferences opens a lucrative opportunity in the malted milk market, as its natural and wholesome attributes align with the surge in demand for nutritious alternatives. Capitalizing on this shift by introducing innovative malted milk products that cater to both taste and health-conscious consumers position businesses for substantial growth in this evolving market.

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The liquid segment to maintain its leadership status throughout the forecast period

By product type, the liquid segment held the highest market share in 2022, accounting for nearly three-fifths of the global malted milk market revenue and is estimated to maintain its leadership status throughout the forecast period. Liquid malt form also known as malt syrup is formed from malted barley after cooking it for a certain period. It is an essential ingredient used in making ales and lagers as it gives those beverages taste, color, and body. However, the dry segment is projected to manifest the highest CAGR of 5.9% from 2023 to 2032. The dry malt form is obtained when the liquid malt form is dehydrated using the process of spray drying. The dry malt form has a better shelf life than the liquid form due to zero water content and is often used in making yeast starters (a liquid solution used to yeast propagation).

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The barley segment to maintain its lead position throughout the forecast period

By source, the barley segment held the highest market share in 2022, accounting for more than four-fifths of the global malted milk market revenue and is estimated to maintain its leadership status throughout the forecast period. Barley is the most preferred source being used for specialty malt processing. As of 2017, the global barley production accounted to 142.37 million metric tons. Out of which 108 million tons of barley was being used for malt processing. Malting barley is varietal and tastes different depending upon its strain and where it is grown. However, the wheat segment is the fastest-growing segment and is projected to manifest the highest CAGR of 7.1% from 2023 to 2032. Wheat is the second most common malted grain specifically used in brewing after barley malt. When used in beer, wheat malt imparts a lighter body than does barley malt, often coupled with a gently refreshing touch of acidity.

The business to business segment to witness the fastest growth throughout the forecast period

By distribution channel, the business to business segment held the highest market share in 2022, accounting for more than half of the global malted milk market revenue and is estimated to maintain its leadership status throughout the forecast period. In the B2B distribution channel for the malted milk market, key trends include a growing emphasis on sustainable sourcing and production practices, responding to increasing corporate responsibility. However, the online sales channel segment is projected to manifest the highest CAGR of 7.9% from 2023 to 2032. Rigorous online marketing has increased the popularity of this distribution channel in recent years, complemented by vast options, availability of detailed information, discount & free home delivery offered by various e-commerce platforms.

Europe to maintain its dominance by 2032

The Europe region held the highest market share in 2022, accounting for nearly half of the global malted milk market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that beer and bread are very popular in the European region and its consumption is increasing at a notable rate. However, the Asia-Pacific region is projected to manifest the highest CAGR of 8.1% from 2023 to 2032. The Asia-Pacific malted milk market has witnessed dynamic trends driven by a fusion of tradition and modern preferences. Consumers are increasingly drawn to malted milk beverages with functional benefits, reflecting a growing interest in health and wellness.

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Leading Market Players: –

• UPFIELD B.V.

• KITE HILL

• MIYOKO’S CREAMERY

• TOFUTTI BRANDS, INC.

• TREELINE TREENUT CHEESE COMPANY, LLC.

• VTOPIAN ARTISAN CHEESES, LLC

• SAPUTO INC.

• PARMELA CREAMERY

• GOOD PLANET FOODS INC.

• NUTS FOR CHEESE

• ABOVE FOOD INC.

• TYNE CHEASE LIMITED

• BEL SA

• DANONE S.A.

• MAPLE LEAF FOODS, INC.

The report provides a detailed analysis of these key players in the global malted milk market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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