Global Specialty Malt Market Overview
Specialty Malt Market Size was estimated at 2.69 (USD Billion) in 2022. The Specialty Malt Industry is expected to grow from 2.85 (USD Billion) in 2023 to 4.78 (USD Billion) by 2032. The Specialty Malt Market CAGR (growth rate) is expected to be around 5.93% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Specialty Malt Market Trends Highlighted
Specialty malts are driving the market's rise due to the increased demand for craft beer and the expanding appeal of artisanal foods and drinks. Market expansion is also being aided by consumers' growing inclination for goods that are flavorful and healthy.
Market participants might explore profitable potential due to the increasing demand for ingredients sourced ethically and organically.
An increasing number of novel technologies, like malting in small-scale automated systems, are being used to improve quality and efficiency, according to recent market trends. The popularity of unique-tasting specialty malts is rising. Examples of these include chocolate, caramel, and smoky malts.
The growing consumer awareness of sustainability and traceability has resulted in an increasing emphasis on local and regional sourcing. Important factors driving the market are the rise in the demand for artisanal and premium spirits, the growth of the craft beer industry, and the growing appeal of home brewing.
Additional factors supporting the market's growth are growing disposable income and shifting consumer preferences. Unique flavors, scents, and colors are provided by specialty malts to brewers and distillers, allowing them to develop products that are distinct and meet changing market preferences.
Specialty Malt Market Drivers
Growing Demand for Craft Beer
The growing popularity of craft beer has led to an increased demand for specialty malts. Craft beers often use specialty malts to create unique flavors and aromas. As the craft beer market continues to grow, the demand for specialty malts is expected to increase as well.
The Specialty Malt Market is expected to witness significant growth over the next few years due to rising demand for craft beers. The increasing popularity of craft beers among consumers has led to a growing demand for unique and flavorful beers, which has, in turn, fueled the demand for specialty malts.
Specialty malts are used to add distinct flavors and aromas to craft beers, catering to the evolving preferences of beer enthusiasts. This growing demand for craft beers is a major driver for the growth of the Specialty Malt Market.
Health and Wellness Trend
The growing health and wellness trend is another major driver of the Specialty Malt Market. Consumers are becoming more health-conscious and are looking for healthier food and beverage options.
Specialty malts are often seen as a healthier alternative to traditional malts, as they are lower in calories and carbohydrates. As the health and wellness trend continues to grow, the demand for specialty malts is expected to increase as well.
Expansion of the Food and Beverage Industry
The expansion of the food and beverage industry is another factor that is driving the growth of the Specialty Malt Market. The food and beverage industry is constantly evolving, and new products are being introduced all the time.
Specialty malts are used in a variety of food and beverage products, such as baked goods, snacks, and sauces. As the food and beverage industry expands, the demand for specialty malts is expected to increase as well.
Specialty Malt Market Segment Insights
Specialty Malt Market Malt Type Insights
The Specialty Malt Market is segmented based on malt type, which includes Pale Malt, Caramel Malt, Crystal Malt, Roasted Malt, Munich Malt, and Vienna Malt. Among these, Pale Malt is projected to dominate the market, accounting for a prominent share of the Specialty Malt Market revenue in 2023, and is estimated to continue its dominance throughout the forecast period.
The high demand for Pale Malt can be attributed to its extensive utilization in the manufacturing of various beer and whiskey styles, where it serves as the base malt.
Caramel Malt, on the other hand, is expected to exhibit significant market growth during the forecast period due to its increasing popularity in the production of amber and dark beers. Its unique caramel flavor and aroma make it a preferred choice for brewers seeking to add complexity and depth to their beers.
Crystal Malt, known for its distinctive reddish-brown color and sweet flavor, is also anticipated to gain traction in the market, particularly in the production of amber and red ales. Roasted Malt, which imparts a roasted and slightly bitter flavor to beers, is expected to maintain a steady market presence, while Munich Malt and Vienna Malt are projected to experience moderate growth, supported by their use in the brewing of traditional European-style beers.
Overall, the segmentation of the Specialty Malt Market based on malt type offers insights into the diverse preferences and demands of the brewing industry, with each malt type catering to specific flavor profiles and beer styles.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Specialty Malt Market Extraction Rate Insights
The Specialty Malt Market segmentation based on Extraction Rate includes Low Extraction Rate Malt, Medium Extraction Rate Malt, and High Extraction Rate Malt. The High Extraction Rate Malt segment is expected to hold the largest market share in 2023, owing to the increasing demand for craft beers and specialty beers.
These malts contribute to a fuller flavor and body in beers. The Medium Extraction Rate Malt segment is projected to witness a significant growth rate during the forecast period due to its rising application in the production of amber ales and pale ales.
The Low Extraction Rate Malt segment is anticipated to account for a notable market share, as it is commonly used in the brewing of light beers and lagers. Overall, the Specialty Malt Market is expected to exhibit a robust growth rate during the forecast period, driven by the increasing popularity of craft beers and the growing demand for specialty malts in various beer styles.
Specialty Malt Market Application Insights
The Specialty Malt Market holds significant growth potential, with its revenue projected to witness a surge in the coming years. Market segmentation plays a pivotal role in understanding the market dynamics and identifying key trends.
Among the various segmentation types, the application segment provides valuable insights into the diverse usage of specialty malts across different industries. The brewing industry remains the dominant application segment, accounting for a substantial share of the Specialty Malt Market revenue.
The increasing popularity of craft beers and the growing demand for premium and flavorful beers have fueled the demand for specialty malts in brewing.
The baking industry is another significant segment, driven by the rising demand for artisanal breads and pastries. Specialty malts impart unique flavors, textures, and colors to baked goods, making them highly sought after by bakers and consumers alike.
The distilling industry also contributes to the growth of the Specialty Malt Market. Distillers use specialty malts to create distinctive and flavorful spirits, such as whiskey, bourbon, and scotch. The growing popularity of premium and single-malt spirits has further boosted the demand for specialty malts in this segment.
Specialty Malt Market Packaging Insights
The packaging segment of the Specialty Malt Market is anticipated to showcase promising growth prospects in the forthcoming years. In 2023, the segment held a substantial market share, and it is projected to maintain its dominance throughout the forecast period.
This growth can be attributed to the increasing demand for convenient and cost-effective packaging solutions for specialty malts. Bags, sacks, and bulk packaging are the most commonly used packaging types for specialty malts. Bags provide flexibility and ease of handling, making them suitable for smaller quantities.
Sacks are larger and more durable, offering protection during transportation and storage. The rising demand for specialty malts in the food and beverage industry, coupled with the growing popularity of craft beers and specialty spirits, is expected to drive market growth.
Specialty Malt Market Organic Status Insights
The Specialty Malt Market segmentation by Organic Status comprises 'Organic Specialty Malt' and 'Conventional Specialty Malt'. Projections show that the Organic Specialty Malt segment is estimated to reach a valuation of 428.79 million USD by 2024, exhibiting a CAGR of 8.9%.
This upsurge can be attributed to the growing consumer preference for organic and natural food products. On the other hand, the Conventional Specialty Malt segment is anticipated to account for a market size of around 796.25 million USD in 2024, expanding at a CAGR of 5.3%.
Despite the rising demand for organic products, conventional specialty malt continues to hold a significant market share due to its cost-effectiveness and wider availability.
Specialty Malt Market Regional Insights
The Specialty Malt Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period.
The growth of the Specialty Malt Market in North America can be attributed to the increasing demand for craft beer and the growing popularity of home brewing. Europe is expected to be the second largest market for Specialty Malt, followed by APAC.
The APAC region is expected to witness significant growth in the Specialty Malt Market due to the increasing disposable income and the changing lifestyle of consumers.
South America and MEA are expected to be the smallest markets for Specialty Malt, but are expected to grow at a steady pace during the forecast period.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Specialty Malt Market Key Players And Competitive Insights
Major players in Specialty Malt Market are constantly investing in research and development to introduce innovative products and meet the evolving demands of customers. Leading Specialty Malt Market players are focusing on expanding their presence through strategic partnerships, acquisitions, and joint ventures.
Specialty Malt Market development is driven by increasing demand for premium and craft beers, as well as growing consumer preference for healthier and more flavourful beverages. The competitive landscape is expected to remain fragmented, with several small and medium-sized players operating alongside larger multinational corporations.
Cargill, the world's largest agricultural conglomerate, is a major player in the Specialty Malt Market. The company offers a wide range of specialty malts, including caramel, chocolate, crystal, and roasted malts. Cargill has a presence, with production facilities in North America, Europe, and Asia. The company's strong distribution network and customer base provide it with a competitive advantage in the market.
Associated British Foods (ABF) is another major player in the Specialty Malt Market. ABF's malt division, Muntons, is one of the world's leading producers of specialty malts. Muntons offers a wide range of specialty malts, including crystal, roasted, and smoked malts.
ABF has a strong presence in Europe and North America and is expanding its operations in Asia. The company's focus on innovation and customer service has helped it gain a competitive advantage in the market.
Key Companies in the Specialty Malt Market Include
- Crisp Malting Group
- Cargill
- Murphy Son
- Ireks GmbH
- Soufflet Group
- Viking Malt
- Boortmalt
- Simpsons Malt
- Axereal
- Mangrove Ltd
- The Swaen
- Dingemans
- Lallemand Inc.
- GrainCorp
- Malteurop
Specialty Malt Market Developments
The specialty malt market is projected to grow from USD 2.85 billion in 2023 to USD 4.78 billion by 2032, at a CAGR of 5.93%. Recent news developments and current affairs in the market include
Growing demand for craft beer The increasing popularity of craft beer has led to a rise in demand for specialty malts, which are used to create unique flavors and aromas in beer.
Expansion of craft breweries The number of craft breweries has been growing rapidly in recent years, especially in North America and Europe. This has created a strong demand for specialty malts from these breweries.
Rising consumer awareness of health and wellness Consumers are becoming more aware of the health benefits of specialty malts, which are a good source of fiber, vitamins, and minerals. This is driving demand for specialty malts in food and beverage applications.
Increasing use in food and beverage applications Specialty malts are increasingly being used in food and beverage applications, such as baking, confectionery, and snack foods. This is due to their unique flavors, aromas, and textures.
Specialty Malt Market Segmentation Insights
- Specialty Malt Market Malt Type Outlook
- Pale Malt
- Caramel Malt
- Crystal Malt
- Roasted Malt
- Munich Malt
- Vienna Malt
- Specialty Malt Market Extraction Rate Outlook
- Low Extraction Rate Malt
- Medium Extraction Rate Malt
- High Extraction Rate Malt
- Specialty Malt Market Application Outlook
- Brewing
- Baking
- Distilling
- Specialty Malt Market Packaging Outlook
- Specialty Malt Market Organic Status Outlook
- Organic Specialty Malt
- Conventional Specialty Malt
- Specialty Malt Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.69(USD Billion) |
| Market Size 2023 |
2.85(USD Billion) |
| Market Size 2032 |
4.78(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.93% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Crisp Malting Group, Cargill, Murphy Son, Ireks GmbH, Soufflet Group, Viking Malt, Boortmalt, Simpsons Malt, Axereal, Mangrove Ltd, The Swaen, Dingemans, Lallemand Inc., GrainCorp, Malteurop |
| Segments Covered |
Malt Type, Extraction Rate, Application, Packaging, Organic Status, Regional |
| Key Market Opportunities |
Growing demand for craft beer Increasing consumer preference for premium and flavored beers Expansion of the food and beverage industry Rising disposable income in emerging markets Technological advancements in malting processes |
| Key Market Dynamics |
Increasing demand for craft beers Growing awareness of health benefits Rising consumer preference for specialty flavors Technological advancements in malting processes Expansion of the craft brewing industry |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Specialty Malt Market was valued at around USD 2.85 billion in 2023.
The Specialty Malt Market is projected to reach a valuation of approximately USD 4.78 billion by 2032.
The Specialty Malt Market is anticipated to exhibit a CAGR of approximately 5.93% from 2024 to 2032.
The Asia-Pacific region is projected to dominate the Specialty Malt Market during the forecast period.
Specialty Malt finds applications in the production of craft beers, premium beers, and artisanal bread.
Key competitors in the Specialty Malt Market include Malteurop, Cargill, and Soufflet Malt.
The rising demand for craft beers and premium beers, along with the growing popularity of artisanal bread, are major factors driving the growth of the Specialty Malt Market.
Fluctuating raw material prices and intense competition from substitutes pose challenges to the growth of the Specialty Malt Market.
Expansion into emerging markets, product innovation, and strategic collaborations present opportunities for growth in the Specialty Malt Market.
Rising consumer preference for natural and organic ingredients, increasing adoption of sustainable practices, and growing demand for gluten-free and low-carb products are key trends in the Specialty Malt Market.
