The global demand for malted milk is projected to grow at a steady CAGR of around 5.5% during the forecast period between 2022 and 2032, totaling a valuation of over USD 12.2 Billion by 2027. Rising adoption of malted milk across various industries such as food and beverages, bakeries, dietary supplements etc. is stimulating the growth of malted milk market.
| Report Attribute | Details |
|---|---|
| Malted Milk Market Estimated Growth Rate (2022 to 2032) | 5.5% CAGR |
| Malted Milk Market Projected Size (2027) | USD 12.2 Billion |
Malted milk is a powdered gruel made from a mixture of malted cereals (malted barley, wheat flour) and dried milk powder. It is being increasingly used as a flavoring and fortification ingredient in food and beverage. Besides this, it finds application in baking where it helps bakers to prepare and cook dough properly.
Food manufacturers are increasingly using malted milk in preparing a wide range of food products and beverages on account of its ability to impart a creamy mouthfeel and sweetness to the products as well to enhance the nutritional benefits of these food products. Rising consumption of these food products will thus continue to boost the growth of malted milk market during the forecast period.
Demand remains particularly high across developing regions of North America and Western Europe. However, with growing health awareness and increasing spending on food products and beverages, sales of malted milk are slated to grow at a relatively higher CAGR across Asia pacific during the forecast period.
Leading malted milk manufacturers are continuously innovating to meet the end user demands. They are introducing novel products with attractive packaging and affordable rates to woo more and more consumers. This will further accelerate the growth of malted milk market during the forthcoming years.
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Rising adoption of malted milk across diverse industries including food & beverages, confectionery, and bakery is a major factor providing impetus to the growth of malted milk market.
Over the years, malted milk has become a highly-sought after flavoring ingredient used in food and beverage industry due to its high nutritional profile. Malted milk is prepared from dried milk and malted cereals. It contains various essential nutrients (especially vitamins and miners) that provide various benefits ranging from boosting energy levels and enhancing bone health, to improving vision and promoting circulation.
Rapid expansion of food and beverage industry coupled with increasing usage of malted milk in preparing various food and beverage products is expected to push the demand for malted milk during the assessment period. Various food manufacturing companies are expanding their snack portfolios to meet the changing meal consumption and snacking patterns of consumers.
Similarly, rising awareness about the benefits of malted milk coupled with increasing consumption of snacks will create lucrative opportunities for the manufacturers in the future.
In addition to this, rising demand for high nutritional value bakery products, especially across developed regions like North America is expected to encourage manufacturers to use malted milk in their products, thereby expanding the global malted milk market size.
Although malted milk products are gaining wider popularity there are certain factors that are restraining the growth of malted milk market to some extent. Some of these factors include growing trend of veganism, rise in the number of lactose intolerant people, and false claims about the ill effects of malted milk-based drinks.
According to Future Market Insights, North America is expected to hold a significant share of the global malted milk market during the forecast period, owing to the increasing consumption of food products like bakeries, confectionery, snacks etc., presence of leading malted milk manufacturing companies, and continuous introduction of innovative product lines such as malted milk confectionery and bakery products.
Over the years, sales of malted milk have risen at a substantial across the USA due to thriving food and beverage industry, increasing consumer spending, and increasing penetration of online food platforms. According to the Economic Research Service of the USA Department of Agriculture (USDA), food spending by USA consumers, businesses, and government entities totaled D1.69 trillion in 2020 and this number is likely to further grow during the forthcoming years, thereby creating space for malted milk market growth.
Similarly, development of plant based malted milk products supported by rising consumer preference towards dairy alternatives will further expand the malted milk market size during the assessment period.
With rising consumption of diary-based food products due to rapidly growing population, increasing disposable income, and changing lifestyle, Asia Pacific market is set to grow at a robust pace during the forecast period.
Demand for malted milk is particularly rising across fast growing nations like China and India due to growing consumer preference for high nutritional foods and beverages. Many food manufacturing companies across Asia Pacific are using malted milk in their products to make them more nutritional and tastier.
Similarly, increasing penetration of online food delivery service platforms will further create opportunities for malted m ilk manufacturers in the region during the forthcoming years.
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Some of the leading manufacturers of malted milk include Briess Malt & Ingredients, Nestlé S.A., Muntons plc, Imperial Malts Ltd., SSP Pvt Limited, Insta Foods, Family Cereal Sdn. Bhd., Food & Biotech Engineers India Private Limited., and King Arthur Flour Company, Inc., among others.
These leading players are increasingly adopting various strategies such as new innovative product launches, partnerships, acquisitions, collaborations, establishment of new facilities across attractive markets, etc. to gain a competitive edge in the global malted milk market.
Companies like Nestle and Imperial Malts have become global leaders in malted milk products. Their brands are being increasingly utilized by people due to better quality.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.5% from 2022 to 2032 |
| Projected Market Size (2027) | 12.2 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Source, End User, Distribution Channel, Packaging, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Imperial Malts Ltd, Muntons plc, SSP Pvt Limited, Nestlé S.A., Insta Foods, Briess Malt & Ingredients, Family Cereal Sdn. Bhd., Food & Biotech Engineers India Private Limited., and King Arthur Flour Company, Inc. |
| Customization | Available Upon Request |
FMI projects the global malted milk market to grow at a CAGR of around 5.5% over the assessment period.
Asia Pacific is likely to emerge as the most lucrative market for malted milk during the forecast period.
Briess Malt & Ingredients, Muntons plc, Food & Biotech Engineers India Private Limited., SSP Pvt Limited, Imperial Malts Ltd., Insta Foods, Family Cereal Sdn. Bhd., Nestlé S.A. and King Arthur Flour Company, Inc. are some prominent malted milk manufacturers
| Market Size (2023E) | USD 2,599 million |
|---|---|
| Market Projected Size (2033F) | USD 4,742 million |
| Value CAGR (2023 to 2033) | 6.2% |
| Expected Market Value (2022) | USD 6.8 Billion |
|---|---|
| Anticipated Forecast Value (2032) | USD 11 Billion |
| Projected CAGR (2022 to 2032) | 5% |
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