Malted Milk Market size to grow by USD 3.48 billion between 2022 and 2027, 43% of the Growth to originate from APAC -17,000+ Technavio
Abbott Laboratories, Briess Industries Inc., Crisp Malting Group Ltd., and Continental Milkose India Ltd. are key companies
NEW YORK, Jan. 24, 2024 /PRNewswire/ -- The malted milk market size to grow by USD 3.48 billion from 2022 to 2027, progressing at a CAGR of 8.19% during the forecast period. The report offers an up-to-date analysis regarding the current global scenario, the latest trends and drivers, and the overall market environment. APAC is estimated to contribute 43% to the growth during the forecast period. The increasing demand for processed foods and meat products, including malted milk, in the Asia-Pacific (APAC) region is driven by population growth and rapid urbanization. Health consciousness and awareness of the health benefits of malted milk further contribute to its demand. Marketing initiatives and the expansion of retail channels have enabled companies to enter new regions. The accessibility of malted milk products has increased through organized retailing outlets and online platforms, enhancing overall sales in the region.
Plant-based alternatives are an emerging trend in the growth. The demand for plant-based malted milk substitutes is rising due to the growing popularity of plant-based diets and environmental consciousness. Consumers, concerned about the environmental impact of animal agriculture, are opting for plant-based options with lower carbon footprints. Products made from soy, almond, oats, and other plant-based ingredients are gaining popularity as a healthier alternative to traditional dairy-based malted milk, attracting health-conscious consumers. Producers are investing in R&D to create innovative plant-based malted milk products.
The expanding retail space is a key factor driving the growth. However, high competition from alternatives is a major challenge impeding growth.
Malted Milk Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.19% |
Market growth 2023-2027 |
USD 3.48 billion |
The malted milk market analysis includes source (wheat, barley, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
- The growth of the wheat segment will be significant during the forecast period. The demand for malted milk made from wheat is influenced by consumer preferences for its distinctive flavor, health benefits, and versatility in various applications. Growing consumer awareness of the health benefits associated with wheat-based products is driving growth. During the forecast period, increased consumer interest in wheat-based malted milk products as healthier and environmentally friendly alternatives is anticipated.
The malted milk market covers the following areas:
Companies Mentioned
- Abbott Laboratories
- Briess Industries Inc.
- Crisp Malting Group Ltd.
- Continental Milkose India Ltd.
- Custom Food Group
- Food and Biotech Engineers India Pvt Ltd.
- Full Sail Brewing Inc.
- Hindustan Unilever Ltd.
- Imperial Malts Ltd.
- Insta Foods
- King Arthur Baking Co. Inc.
- Maplebear Inc.
- Muntons Plc
- Nestle SA
- SSP Pvt. Ltd.
- The Kraft Heinz Co.
Briess Industries Inc. - The key offerings of the company include malted milk powder, which is used to make whipped cream, thus used as a topping on ice cream sundaes and pies.
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Malted milk: Major Benefits
Malted milk, a dairy-based beverage, is used as a powdered mix and nutritional supplement, often consumed as a health drink or breakfast beverage. It serves as a flavoring agent and is fortified with vitamins and minerals such as calcium, phosphorus, iron, magnesium, and zinc. Made from barley malt and wheat flour, it is sweetened using natural ingredients and is non-GMO and gluten-free. Typically low in fat and sugar, it provides an energy boost and convenience as an instant mix that is shelf-stable. Malted milk is used in culinary applications and is tailored to meet consumer preferences in the food industry.
Related Reports
The Wheat Market size is forecast to increase by USD 73.16 billion, at a CAGR of 4.54% between 2023 and 2028.
The formula milk dispenser machines market size is forecast to increase by USD 1,020 million, at a CAGR of 11.28% between 2023 and 2028.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Source
Segmentation by Distribution Channel
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.
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SOURCE Technavio
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