Global Malt Ingredient Market for Bakery: Snapshot
The global demand for malt ingredients used in the bakery sector has witnessed a massive rise in the past few years, thanks mostly to the massive surge in the global consumption of bakery products, especially the ones promising a high nutritious or ‘healthy’ quotient. With new products steadily being brought into the market, companies focusing increasingly on new target audience such as gluten-intolerant or vegan, and expansion of the gourmet bakery sector to emerging markets, the global malt ingredient for bakery market has further expanded.
Other factors to have worked in favour of the market so far include the rising disposable incomes of people across developing economies, the increased expenditure on value-added food products, and the increased availability of organic and natural products and ingredients. In the next few years as well, the market is expected to perform at a promising pace. The report estimates that the global bakery industry will exhibit a promising 6.6% CAGR over the period between 2016 and 2024, rising to a revenue opportunity of US$7.3 bn by 2024. Over the same period, the demand for malt ingredients is expected to expand at a moderate 4.7% CAGR.
Barley to Remain Most Preferred Source of Malt in Bakery Industry
In the report, the global market for malt ingredients for the bakery sector has been segmented based on the key sources of malt into wheat, barley, and other varieties. Of these, the segment of barley accounted for the dominant share of over 56.6% in 2015 and is likely to continue to account for the dominant share over the forecast period as well. The segment of wheat is also likely to expand at a favourable pace owing to the high production and usage of wheat in a number of regional markets.
In terms of the key products produces, the report segments the market into dry malt, liquid malt, and malt flour. Of these, the segment of malt flour is likely to account for the dominant share in the overall market, followed by the segment of dry malt. The dry malt segment is likely to emerge as the one with the most promising growth opportunities, exhibiting an impressive 5.2% CAGR over the forecast period in terms of volume. Based on application, the market has been segmented in the report into biscuits, bread, brownie, cakes and pastries, pizza, doughnut, and cookies. Of these, the segment of cookies is likely to account for the dominant share in the market in terms of volume owing to their high shelf life and popularity. The segment of cakes and pastries is likely to remain the most promising segment, exhibiting a CAGR Of 5.4% over the report’s forecast period.
North America and Europe to Remain Strong Regional Markets
The report covers the global malt ingredient for bakery market based on geography into Europe, Asia Pacific, North America, Latin America, and Middle East and Africa. Of these, the markets in Europe and North America collectively hold a lion’s share in the overall market owing to the well-established gourmet bakery industries and the high consumption of bakery products in regular meals. These regional markets are likely to remain at the forefront of the global market over the forecast period as well.
The market in Asia Pacific, on the other hand, is expected to register a promising growth pace over the forecast period and emerge as one of the most lucrative regional markets. The regional market will benefit from the increased preference of people across emerging economies to ready-to-eat products and the rising popularity of novel and healthy variants of bakery products.
Some of the leading companies in the global malt ingredient for bakery market are Briess Malt & Ingredients Co., Malt Products Corporation, Malteries Soufflet SAS, VIVESCIA Industries, Simpsons Malt Limited, GrainCorp Malt Group, Muntons PLC., RAGLETH LTD., Polttimo Oy, Cargill, Inc., Dohler GmbH, IREKS GmbH, and Axereal Group.
The report covers forecast and analysis for the global malt ingredient market for bakery on the global as well as regional levels. The study provides actual data of 2015 along with forecast for 2017 to 2024 based on volumes (metric tons) and revenue (US$ Mn). The study includes drivers, restraints, opportunities, and trends for the global malt ingredient market for bakery with their impact on demand during the forecast period. Market dynamics in the report are justified with the help of quantitative and qualitative data, which are verified by primary and secondary sources. The report includes segmentation, targeting & positioning (STP) analysis and value proposition analysis to enable clients to differentiate their strategy.
In order to provide users of this report with comprehensive view of the market, TMR have included detailed competitiveness analysis and profiles of company players with unique selling propositions. The competition dashboard provides detailed comparison of malt ingredient manufacturers on parameters such as strategic focus, unique selling proposition, and market share. The study also provides market attractiveness analysis by application, product type, by source, by grade and by region.
Inflation is not part of pricing in this report. Prices of malt ingredient vary in each region. Hence, similar volume-to-value ratio does not follow for each individual region. Prices of malt ingredient across major regions have been taken into account while estimating and forecasting market revenue on the global basis. We have used bottom-up approach to arrive at the global market, considering individual product segments and integrating them to deduce global numbers.
For this research report, we conducted in-depth interviews and discussions with key industry experts and opinion leaders. We reviewed key players’ product literature, press releases, white papers, annual reports, and relevant documents for competitive analysis and market understanding. Secondary sources include technical documents, statistical data from government websites, trade associations, and agencies. This has proven to be an effective, reliable, successful approach to deduce precise market data and recognize business opportunities.
Key players in global malt ingredient market for bakery in the report include Simpsons Malt Limited, Malteries Soufflet SAS, Briess Malt & Ingredients Co., Malt Products Corporation, Polttimo Oy, Muntons plc, VIVESCIA Industries, Dohler GmbH, IREKS GmbH, GrainCorp Malt Group, RAGLETH LTD., Cargill, Incorporated and Axereal Group.
The global malt ingredient market has been segmented as follows:
- Global malt ingredient market for bakery on the basis of product type
- Dry Malt
- Liquid Malt
- Malt Flour
- Global malt ingredient market for bakery on the basis of source
- Global malt ingredient market for bakery on the basis of application
- Cakes & Pastries
- Global malt ingredient market for bakery on the basis of grade
- Global malt ingredient market for Bakery– Regional Analysis by region
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific (APAC)
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East and Africa (MEA)
- Rest of MEA
- North America