Malting is defined as the process whereby grains are made to germinate by soaking in water and then their further germination is halted by drying with hot air. Malting develops the grain’s enzymes that are required to modify the starches into sugars. Specialty malt is one such malt originally derived from barley, wheat, or rye. Among these sources, barley is the most preferred grain used in malting for various application.
Specialty malt endures large-scale applications in some of the key sectors of the food and beverages industry. Specialty malt as flavoring agent or coloring agent, endures high demand in the alcoholic beverages segment. For instance, inclusion of specialty malt as an ingredient for brewing, has a dramatic impact on the flavor, mouthfeel and color of the beer. In the craft brewery sector, brewers strategize on continuous evolution of its product offerings by trying out new and different types of pale and specialty malts in the view of creating distinctive beers.
Hence, craft brewers willingness to try new malt varieties helps cater to the requirement of the target customers, is one of the driving factor in the global specialty malt market. Among the demographic segment, millennials are mostly projected to spend on premium alcoholic beverages including craft beer. As a result, rise in preference for craft beer by the millennials, has triggered the demand for different types of specialty malts as an ingredient.
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Among the product types, there are two types of specialty malts available in the market i.e. caramelized specialty malt and roasted specialty malt. Caramelized specialty malts are available in wide variety of flavors and colors namely: Carapils, Cara-Vienne, Cara-Munich, Special-B, and others. Moreover, these malts are easy to use in craft brewery. Therefore, caramelized specialty malt accounts to higher value share in the product type segment.
The global specialty malt market is segmented on the basis of source, form, application, product, and region. On the basis of source, the market is further categorized into wheat, rye and barley. On the basis of form, the market is bifurcated into dry and liquid According to application, the market is classified into dairy & frozen products, bakery & confectionery, alcoholic beverages, non-alcoholic beverages and others.
As per product, the market is divided into caramelized malt, roasted malt and others. Based on region, the market has been studied across North America that includes the U.S., Canada, and Mexico; Europe that includes the UK, France, Germany, Italy, Spain, and rest of Europe; Asia-Pacific that includes China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific; and LAMEA that includes Brazil, Kingdom of Saudi Arabia (KSA), South Africa and Rest of LAMEA.
The key players profiled in the global specialty malt market include Cargill Inc., Malteurop Groupe, GrainCorp Ltd., Soufflet Group, Barrett Burston Malting Company Wa Pty Ltd., Rahr Corporation, Simpsons Malt, Crisp Malting, Muntons PLC, and Axereal Group.
KEY BENEFITS FOR STAKEHOLDERS
• The report provides a quantitative analysis of the current market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing specialty malt market opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis of the size and segmentation assists in determining the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the industry.
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the specialty malt industry.
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KEY MARKET SEGMENTATION
• By Source
• By Product
o Caramelized Malt
o Roasted Malt
• By Form
• By Application
o Dairy & Frozen Products
o Bakery & Confectionary
o Alcoholic Beverages
o Non-Alcoholic Beverages
• By Region
o North America
§ Rest of Europe
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§ South Korea
§ Rest of Asia-Pacific
§ Kingdom of Saudi Arabia (KSA)
§ South Africa
§ Rest of LAMEA