The global specialty malt market is expected to witness significant growth over the forecast period. Malt is a germinated cereal grain that has been dried. Malting is an ancient process that has evolved into a fascinating interaction of modern technology and chemistry wherein there is the conversion of raw grain into malt. The malt is primarily used for brewing or whiskey production but nevertheless can be utilized to make vinegar or malt extract. A variety of grains are malted such as wheat, rye, barley, and sorghum. Malting grains develop the enzymes necessary for transforming the grain’s starches into sugars. Additionally, there are also other enzymes established like protease that basically function in the cleavage of proteins to give a by-product that can be utilized by the yeast. A series of steps are involved in malting; namely steeping, germinating, and drying. The most significant step is drying or creating specialty malts. Several types of equipment can be employed to harvest malt.
Specialty malts are any malts other than standard malt. They are basically produced by manipulating the process of drying. Specialty malts provide exclusive characteristics that make craft beer with improved features like increased color and flavor, the extended shelf life of a product, improved taste, rise in foam and foam retention, and ultimately the brewing performance.
The factors that propel the growth of the global specialty malt market include a rise in demand for craft beer, a growing number of independent breweries, improvements in R&D accomplishments for specialty malt, and versatile functionality of specialty malt.
On the other hand, there are also factors that hamper the growth of the global market that include government guidelines as well as rise and fall in the supply of raw materials.
The global specialty malt market is classified on the basis source, form, type, application, and geography.
On the basis of source, the global market is classified as wheat, barley, and rye. On the basis of form, the global market is classified as liquid and dry. On the basis of type, the global market is classified as crystal, roasted, and dark. The Roasted malts are further sub-classified as Belgian malt, Munich malt, and Vienna malt. The “Roasted malts” section has governed the major share of the global market owing to their extensive variety of applications in the beverage industry.
On the basis of application, the global market is classified as bakery, brewing, distilling, non-alcoholic malt beverages. Amongst the applications sector, the brewing application dominated the largest share of the global market. There are various factors that attribute to the growth of the brewing application such as the growth of independent breweries, the prevalent necessity of flavored malt in beer brewing, the introduction of numerous craft beers, and also the determined initiative of optimizing the yield and processing by the industrial producers.
On the basis of geography, the global specialty malt market is classified as North America, Europe, Asia Pacific, and Rest of the World. Asia Pacific region is estimated to hold the major share of the global market in the upcoming years. Also, during the forecast period, the Asia Pacific region is projected to raise at high growth rates. The factors that fuel the growth of the market in the Asia Pacific region are increasing population, rising local breweries, increase in awareness regarding craft beers, and also rapid growth in high-tech malt technologies.
Some of the prominent players that fuel the growth of the global market include GrainCorp Ltd., Viking Malt, IREKS GmbH, Bar Malt India Pvt. Ltd., Simpsons, Soufflet Group, Axereal Group, Cargill, Inc., and Malteurop Groupe.
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