Market Introduction
Malt extract is a sweet substance extracted from malted grains which are germinated cereal grains dried during malting process. It is extensively used in the brewing of beer. It is produced in two forms dried and liquid malt extracts. The liquid malt extracts is a liquid with high viscosity used as a natural food ingredient. It is available in different color levels ranging from light to dark shades whereas the dry malt extract is made by further spray drying of liquid extract. Malt extract has been in use in multiple products for its unique flavor characteristics, and works as a sugar or honey substitute in many recipes such as baked good like bars, cereals, cookies, bars, and many others. It helps in enhancing flavors, aromas, and colors. It is also used as dietary supplement besides baking and brewing. Brewers prefer liquid malt extract since it requires fewer processing step and appeals to those who want purest form of the product. The malt extracts market is anticipated to grow in the forecast period owing to driving factors such as increasing demand for craft beer coupled with growing adoption of natural and organic food.
Market Overview and Dynamics
The malt extracts market in APAC is expected to reach US$ 272.26 million by 2027 from US$ 166.42 million in 2018; it is expected to grow at a CAGR of 5.7% from 2019 to 2027. Increasing preference for clean label products is increasing the demand for malt extracts is the key factor driving the APAC malt extracts market. Today’s consumers have shifted their preference towards organic and natural food products, with a focus on the numerous health benefits such types of food offer. Moreover, strict government regulations on food additives are presently a major concern for food processers and manufacturers. Owing to this, companies operating in food and beverage industry are focusing on producing clean label products by not using or limiting food additives and increasing the adoption of natural food colors and flavors as substitutes to synthetic food additives. Food manufacturers are also focusing on leveraging the consumer preference towards wellness and health over cost of products and using malt extracts as an ingredient, besides others, to secure clean label approval for various food and beverage products. In addition to the clean label claims, malt-based ingredients enable food and bakers’ producers to replace high fructose corn syrup from product labels. Besides, increasing demand of malt extracts in the food and beverage industry is also bolstering the APAC malt extracts market. Increasing consumer demands for healthier foodstuff is spreading throughout all categories of the food and beverage sectors. Food processors and manufacturers all over the world are finding better ways to formulate their current products along with creating more innovative and newer products to meet this increasing demand. These have resulted in the propagation of new trends for extracts used in these products.
COVID-19 pandemic has affected industries and economies in various countries due to lockdowns, business shutdowns, and travel bans. The COVID-19 is anticipated to cause a loss of more than 3 Billion in the APAC region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of APAC is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the coronavirus (COVID-19) outbreak would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Till now, China has the highest number of COVID -19 confirmed cases.
Key Market Segments
The market for malt extracts is segmented into form, nature, and application. Based on form, the market is segmented into liquid and powder. In 2018, The APAC malt extracts market was dominated by the liquid segment. Based on nature, the malt extracts market is divided into organic and conventional. Organic segment is expected to be the fastest growing segment over the forecast period. Based on application, the malt extracts market is segmented into food, beverages, pharmaceuticals, and others. The beverages segment held the largest share in 2018 and it is projected to continue its dominance over the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the malt extracts market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Malteurop Group, Ireks Gmbh, Groupe Soufflet, Malt Products Corporation, United Malt Group, Muntons Plc, Boortmalt N.V., and Liotecnica among others.
Reasons to buy report
APAC Malt Extracts Market Segmentation
APAC Malt Extracts Market – By Form
APAC Malt Extracts Market – By Distribution Channel
APAC Malt Extracts Market – By Application
APAC Malt Extracts Market – By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 166.42 Million |
| Market Size by 2027 | US$ 272.26 Million |
| CAGR (2019 - 2027) | 5.7% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Form
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Malt Extracts Market is valued at US$ 166.42 Million in 2018, it is projected to reach US$ 272.26 Million by 2027.
As per our report Asia Pacific Malt Extracts Market, the market size is valued at US$ 166.42 Million in 2018, projecting it to reach US$ 272.26 Million by 2027. This translates to a CAGR of approximately 5.7% during the forecast period.
The Asia Pacific Malt Extracts Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Malt Extracts Market report:
The Asia Pacific Malt Extracts Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Malt Extracts Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Malt Extracts Market value chain can benefit from the information contained in a comprehensive market report.
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