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    Malted Milk Market

    ID: MRFR/F-B & N/21016-HCR
    128 Pages
    Snehal Singh
    September 2025

    Malted Milk Market Research Report By Flavor (Chocolate, Vanilla, Strawberry, Others), By Packaging Type (Powder Form, Liquid Form), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retailers, Others) and By Regional (North America, Europe, South America, Asia-Pacific, Middle East and Africa) - Forecast to 2034

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    Malted Milk Market Research Report — Global Forecast till 2034 Infographic
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    Malted Milk Market Summary

    The Global Malted Milk Market is projected to grow from 17.4 USD Billion in 2024 to 27.9 USD Billion by 2035, reflecting a robust growth trajectory.

    Key Market Trends & Highlights

    Malted Milk Key Trends and Highlights

    • The market is expected to expand at a compound annual growth rate (CAGR) of 4.36 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 27.9 USD Billion, indicating strong demand for malted milk products.
    • In 2024, the market is valued at 17.4 USD Billion, showcasing its current significance in the food and beverage sector.
    • Growing adoption of malted milk beverages due to increasing health consciousness among consumers is a major market driver.

    Market Size & Forecast

    2024 Market Size 17.4 (USD Billion)
    2035 Market Size 27.9 (USD Billion)
    CAGR (2025-2035) 4.36%

    Major Players

    Nestlé, Horlicks, Abbott Laboratories, GlaxoSmithKline, Yili Group, FrieslandCampina, Fonterra, PepsiCo, Kraft Heinz, Unilever, Arla Foods, Mead Johnson Company, Danone Dumex, Inner Mongolia Mengniu Dairy (Group) Co., Ltd., Danone

    Malted Milk Market Trends

    The malted milk market is poised for sustained growth in the coming years. Rising health consciousness among consumers, coupled with the increasing popularity of fortified foods and beverages, is driving demand for malted milk products. The market is also witnessing a surge in demand for natural and organic malted milk options as consumers seek healthier alternatives.

    Key market drivers include the growing adoption of malted milk as a nutritious and convenient breakfast option, its use as an ingredient in various food and beverage applications, and its perceived health benefits such as improved digestion and bone health. Additionally, the expansion of the food and beverage industry in developing countries presents significant opportunities for market growth.

    Recent trends in the malted milk market include the emergence of innovative flavors and formulations, such as gluten-free and low-sugar variants. Increasing consumer preference for on-the-go snacks and beverages is also driving demand for portable malted milk products. Furthermore, the rising popularity of plant-based diets is expected to create opportunities for the development of non-dairy malted milk alternatives.

    The Global Malted Milk Market is poised for growth, driven by increasing consumer preference for nutritious and convenient food options, alongside a rising trend towards health-conscious dietary choices.

    U.S. Department of Agriculture

    Malted Milk Market Drivers

    Growing Health Consciousness

    The increasing awareness of health and wellness among consumers appears to be a primary driver for the Global Malted Milk Market Industry. As individuals seek nutritious alternatives to sugary beverages, malted milk, known for its vitamins and minerals, has gained traction. This trend is particularly evident in regions where dietary supplements are becoming more popular. The market is projected to reach 17.4 USD Billion in 2024, indicating a robust demand for healthier options. Furthermore, the shift towards functional foods suggests that malted milk products, which often contain added nutrients, may continue to thrive in this evolving landscape.

    Innovative Product Development

    Innovation in product development is a significant driver for the Global Malted Milk Market Industry. Manufacturers are increasingly experimenting with flavors, formulations, and packaging to attract a wider consumer base. For instance, the introduction of organic and plant-based malted milk options caters to the growing demand for sustainable and health-oriented products. This innovation not only enhances consumer interest but also aligns with current dietary trends. As companies continue to invest in research and development, the market is poised for growth, with projections suggesting a steady increase in product offerings that meet diverse consumer needs.

    Cultural and Regional Preferences

    Cultural and regional preferences significantly influence the Global Malted Milk Market Industry. In various countries, malted milk is not merely a beverage but a part of traditional diets and customs. For example, in certain cultures, malted milk is consumed as a comforting drink, especially among children and the elderly. This cultural significance can drive consistent demand, as families often pass down these traditions. Understanding these regional nuances allows manufacturers to tailor their products effectively, ensuring they resonate with local consumers. As a result, the market is likely to see sustained growth, reflecting the diverse ways in which malted milk is integrated into daily life.

    Expansion of Distribution Channels

    The expansion of distribution channels, including e-commerce and retail outlets, plays a crucial role in the growth of the Global Malted Milk Market Industry. With the rise of online shopping, consumers have greater access to a variety of malted milk products, enhancing visibility and availability. Retailers are increasingly stocking malted milk in various forms, from powders to ready-to-drink beverages, catering to diverse consumer preferences. This accessibility is likely to drive sales, contributing to a projected compound annual growth rate of 4.36% from 2025 to 2035. The strategic placement of malted milk products in both physical and online stores is essential for capturing a broader audience.

    Rising Demand for Convenience Foods

    The fast-paced lifestyle of modern consumers has led to an increased demand for convenience foods, which significantly influences the Global Malted Milk Market Industry. Malted milk products, often available in ready-to-drink formats or easy-to-prepare mixes, cater to this need for convenience. This trend is particularly pronounced among busy families and working professionals who prioritize quick meal solutions. As a result, the market is expected to grow steadily, with projections indicating a value of 27.9 USD Billion by 2035. The convenience factor, combined with the nutritional benefits of malted milk, positions it favorably in the competitive food and beverage sector.

    Market Trends and Growth Projections

    The Global Malted Milk Market Industry is experiencing notable trends and growth projections that reflect its evolving landscape. The market is expected to reach 17.4 USD Billion in 2024, with a forecasted increase to 27.9 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 4.36% from 2025 to 2035. Factors such as health consciousness, convenience, and innovative product offerings are likely to drive this expansion. Additionally, the increasing penetration of malted milk products in emerging markets presents further opportunities for growth. Overall, these trends indicate a promising future for the malted milk sector.

    Key Players and Competitive Insights

    Key industry players in the malted milk market are primarily focusing on new product development to cater to changing consumer demands. Moreover, the leading malted milk market players are spending heavily on research and development activities to enhance the nutritional and taste value of their product offerings. The increasing popularity of convenient, healthy food options is also driving the malted milk market. Consequently, manufacturers are introducing new products with low sugar and fat, high protein and fiber. Malted Milk Market Competitive Landscape is expected to remain high over the coming years.

    Nestlé is the dominant player in the malted milk market with a presence. The company has a wide range of product portfolios in the malted milk market, such as Nesquik, Milo, and Nido, and many others. The company is also very strong in developed as well as emerging markets. Nestlé's success in the malted milk market is attributed to its strong brand portfolio, a strong distribution network, and highly innovative marketing strategies.Horlicks is a significant player in the malted milk market, having a stronghold in India and other South Asian markets.

    Horlicks malted milk powder is one of the most selling health drinks. The high sales of Horlicks are credited to its focus on health and nutrition, strong brand value, and long distribution network.

    Key Companies in the Malted Milk Market market include

    Industry Developments

    • Q2 2024: Nestlé launches new malted milk beverage 'Milo Plus' in Southeast Asia Nestlé announced the launch of 'Milo Plus', a fortified malted milk beverage targeting health-conscious consumers in Malaysia and Singapore, expanding its Milo product line with added vitamins and minerals.
    • Q1 2024: Hershey opens new malted milk powder production facility in Pennsylvania The Hershey Company inaugurated a new facility dedicated to the production of malted milk powder, aiming to meet rising demand for malt-based ingredients in North America.
    • Q2 2024: Mondelez International partners with Ovaltine to launch co-branded malted milk biscuits in Europe Mondelez International announced a partnership with Ovaltine to introduce a new line of co-branded malted milk biscuits, targeting the European snack market.
    • Q3 2024: Danone acquires minority stake in Indian malted milk startup Maltiva Danone completed the acquisition of a minority stake in Maltiva, an Indian startup specializing in plant-based malted milk beverages, to expand its presence in the functional beverage segment.
    • Q2 2024: Horlicks launches ready-to-drink malted milk bottles in UK retail stores Horlicks introduced a new ready-to-drink malted milk product in major UK supermarkets, marking its entry into the convenience beverage segment.
    • Q1 2025: Nestlé appoints new head of malted milk division amid global expansion Nestlé announced the appointment of Maria Fernandez as the new head of its malted milk division, reflecting the company's focus on expanding its malted milk portfolio globally.
    • Q2 2025: Ovaltine secures regulatory approval for new malted milk formula in China Ovaltine received regulatory approval from Chinese authorities to market its new fortified malted milk formula, enabling the company to expand its product offerings in the Chinese market.
    • Q1 2024: Bournvita launches plant-based malted milk powder in India Bournvita introduced a plant-based malted milk powder in India, catering to the growing demand for vegan and dairy-free alternatives.
    • Q3 2024: Nestlé opens new research center for malted milk innovation in Switzerland Nestlé inaugurated a research center in Switzerland focused on developing new malted milk formulations and processing technologies.
    • Q2 2025: Danone launches organic malted milk drink in France Danone introduced an organic malted milk beverage in France, targeting health-conscious consumers seeking clean-label products.
    • Q1 2025: Mondelez International acquires UK-based malted milk snack brand MaltyBites Mondelez International completed the acquisition of MaltyBites, a UK-based brand specializing in malted milk snacks, to strengthen its position in the European snack market.
    • Q3 2025: Ovaltine announces partnership with Starbucks to offer malted milk beverages in select Asian markets Ovaltine and Starbucks entered a partnership to introduce malted milk-based beverages in select Starbucks stores across Asia, aiming to tap into the region's growing demand for functional drinks.

    Future Outlook

    Malted Milk Market Future Outlook

    The Global Malted Milk Market is projected to grow at a 4.36% CAGR from 2024 to 2035, driven by rising health consciousness, product innovation, and expanding distribution channels.

    New opportunities lie in:

    • Develop plant-based malted milk alternatives to cater to vegan consumers.
    • Leverage e-commerce platforms for direct-to-consumer sales strategies.
    • Invest in sustainable packaging solutions to enhance brand loyalty and appeal.

    By 2035, the Malted Milk Market is expected to achieve robust growth, reflecting evolving consumer preferences and innovative product offerings.

    Report Scope

    Report Attribute/Metric Details
    Market Size 2024 17.44(USD Billion)
    Market Size 2025 18.20(USD Billion)
    Market Size 2034 26.72(USD Billion)
    Compound Annual Growth Rate (CAGR) 4.4% (2025 - 2034)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2023
    Market Forecast Period 2025 - 2034
    Historical Data 2019 - 2022
    Market Forecast Units USD Billion
    Key Companies Profiled Abbott Laboratories, GlaxoSmithKline, Nestle, Yili Group, FrieslandCampina, Fonterra, PepsiCo, Kraft Heinz, Unilever, Arla Foods, Mead Johnson Company, Danone Dumex, Inner Mongolia Mengniu Dairy (Group) Co., Ltd., Danone
    Segments Covered Flavor, Packaging Type, Distribution Channel, Regional
    Key Market Opportunities 1 Rising demand for convenience foods2 Growing health consciousness3 Increasing demand in developing countries4 Expansion of retail channels
    Key Market Dynamics Rising Health Consciousness Growing Demand for Convenience Foods Increasing Disposable Income Health and Wellness Trend Expansion in Emerging Markets
    Countries Covered North America, Europe, APAC, South America, MEA

    FAQs

    What is the expected market size of the Malted Milk Market in 2023?

    The Malted Milk Market reached a valuation of 17.44 billion USD in 2024.

    What is the projected CAGR of the Malted Milk Market from 2024 to 2032?

    The Malted Milk Market is projected to grow at a CAGR of 4.4% from 2025 to 2034.

    Which region is expected to hold the largest market share in the Malted Milk Market?

    The Asia-Pacific region is expected to hold the largest market share in the Malted Milk Market, owing to the increasing demand for malted milk products in countries such as India and China.

    What are the key applications of malted milk?

    Malted milk has applications in various products, such as infant formula, nutritional drinks, baked goods, and confectionery products.

    Who are the key competitors in the Malted Milk Market?

    Key competitors in the Malted Milk Market include Nestle, Danone, Arla Foods, and Mead Johnson Nutrition.

    What are the major factors driving the growth of the Malted Milk Market?

    Factors driving the growth of the Malted Milk Market include the increasing demand for fortified and nutritious food products, rising disposable income, and growing awareness of the health benefits of malted milk.

    What are the challenges faced by the Malted Milk Market?

    Challenges faced by the Malted Milk Market include intense competition, fluctuating raw material prices, and changing consumer preferences.

    What are the opportunities for growth in the Malted Milk Market?

    Opportunities for growth in the Malted Milk Market lie in the expansion of emerging markets, product innovation, and strategic partnerships.

    What are the key trends shaping the Malted Milk Market?

    Key trends shaping the Malted Milk Market include the growing demand for clean-label products, the rise of e-commerce, and the increasing popularity of plant-based alternatives.

    What is the expected market size of the Malted Milk Market in 2032?

    The Malted Milk Market is expected to reach a valuation of 26.72 billion USD by 2034.

    Report Infographic
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    Customer Strories

    “I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.”

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