As cited by the research report titled, ‘Global Malt Ingredient Market Size study, by Product Type (Dry Malt, Liquid Malt, Malt Flour, and Others), Application (Bread, Biscuits, Brownie, Cookies, Cakes & Pastries, Doughnuts, Pizza, and Others), Source (Barley, Wheat, and Rye), Grade (Specialty and Standard), and Regional Forecasts 2021-2027’, available with Market Study Report, global malt ingredient market was valued at USD 17.45 billion in 2020 and is estimated to record a CAGR of 2.89% over 2021-2027, subsequently accumulating USD 21.30 billion by the forecast period end.
 

Extensive adoption of functional ingredients in the production of functional foods like nutritious meals & beverages coupled with increasing health cognizance among customers are the primary factors driving the global malt ingredient market growth.
 

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Moreover, uptick in production of grains like wheat & barley is anticipated to enhance the market progression. For instance, as per the United States Department of Agriculture, in 2017, 1.95 million acres of barley were harvested in the U.S. with an average yield of 72.6 bushels per acre, with an overall production of 141.9 million bushels.
 

Further, flourishing food & beverage sector and rising beer production are generating lucrative prospects for the business scenario.
 

For the record, malt is a common cereal grain made through a process called malting which helps germination of barley by soaking it in water and then drying it using hot water.
 

Industry experts cite that shortage of grain supplies and poor-quality crop yield in many malt grain-producing countries are likely to restrain the market growth over the forecast duration.
 

Considering the product type, global malt ingredient industry is segmented into dry malt, malt flour, liquid malt, and others. Based on source, the marketplace is divided into wheat, barley, and rye. Speaking of the application range, the business space is classified into biscuits, bread, doughnuts, brownie, cakes & pastries, cookies, pizza, and other applications. On the basis of grade, the industry space is categorized into standard, and specialty.
 

Geographically, Asia Pacific, Europe, North America, and Latin America are major contributors towards the overall industry value. Of these, North America holds a substantial market share and is anticipated to remain a lucrative avenue through 2027, due to escalating demand for packaged & prepared food, growing beer consumption, and rising sales of food & beverages.
 

Whereas, Asia-Pacific industry is anticipated to exhibit a strong CAGR over the forecast period 2021-2027, owing to surging demand for food & beverages, spike in disposable income, and expansion of end-use sectors like medicines in the region.
 

Prominent players influencing the global malt ingredient market dynamics are Simpsons Malt Ltd., Briess Malt & Ingredients Co., GrainCorp Ltd., Malt Products Corporation, Cargill Inc., SCA Vivescia Industries, Ireks GmbH, Axereal Group, Dohler GmbH, and Malteries Soufflet SAS.