India to Grow at the Highest CAGR in the Specialty Malts Market During the Forecast Period

Specialty malts can be classified into three main categories, namely, crystal or caramel malt, roasted malt, and dark malt. Roasted malts are usually kilned to a very high degree to achieve the desired result and are the most commonly used specialty malts

(EMAILWIRE.COM, March 03, 2020 ) The specialty malt market is projected to grow at a CAGR of 5.0% from 2017 and reach USD 3.01 billion by 2022. The demand for specialty malt is projected to grow, owing to the increase in number of independent breweries, advancements in R&D activities for specialty malt, growth in demand for craft beer, and multi-functionality of specialty malt. Fluctuations in supply of raw material and government regulations are the major restraints for the specialty malt market.

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Increasing demand from breweries makes roasted malts the fastest growing specialty malt

The roasted malt segment is projected to grow at the highest rate between 2017 and 2022, due to the growing number of independent breweries, growing popularity of craft beer and malted ready-to-drink beverages. The market for roasted malts for application in the beverage industry is driven by the brewing industry that prefers natural and organic flavored ingredients in their brews. Furthermore, a trend toward house-hold consumption of beer has also fueled the specialty malt market.

Asia-Pacific projected to be the fastest-growing region in the market

The Asia-Pacific region accounted for the fastest growing region, in terms of value, in the global specialty malt market, in 2015. This region comprises developing economies such as China, Japan, Australia, and India, which are some of the top producers of specialty malt in the world. The increase in population and per capita income in India and China is expected to drive the demand for malted beer. Europe accounted for the largest share in the specialty malt market mainly due to the steady per capita consumption of beer in most of the countries the region.

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The global market for specialty malt is dominated by large players Cargill, Inc. (U.S.), Malteurop Groupe (France), GrainCorp Ltd. (Australia), Soufflet Group (France), and Axereal Group (France). Other players include Viking Malt (Germany), Bar Malt India Pvt. Ltd. (India), IREKS GmbH (Germany), Simpsons Malt LTD. (U.K.), and Agromalte Agraria (Brazil).

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