Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Malted Milk market.
Trusted Business Insights presents an updated and Latest Study on Malted Milk Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Malted Milk market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Industry Insights, Market Size, CAGR, High-Level Analysis: Malted Milk Market
The global malted milk market size was estimated at USD 5.58 billion in 2018 and will expand further at a CAGR of 5.5% over the forecast period. Malted milk is prepared by combining whole milk powder, malted grain flour, and other ingredients, which are used as fortification and flavoring agents in food and beverages. It provides sweetness and a creamy mouthfeel to the food products. It is widely used as a coating ingredient.
Rising awareness about following a healthy lifestyle is the major factor responsible for increasing product demand. In addition, manufacturers are focusing on usage of natural ingredients, which is driving the product sales. Increasing awareness about the various benefits of malted foods and drinks and high product consumption as a nutrition supplement will augment the market growth further.
Changing food preferences, such as high demand for bite-sized snacks, due to hectic lifestyle along with rapid urbanization and industrialization will also have a positive impact on the market growth. Moreover, innovations in bite-sized snacks, such as malted milk powder cookies and other baked products, are projected to boost the demand. In addition, rising demand for flavored milk is likely to contribute to the industry growth.
Asia Pacific is estimated to be the dominant, as well as, the fastest-growing regional market over the forecast period on account of high product demand. In addition, growing population in countries, such as India, Japan, and China, along with the increasing health awareness is expected to spur the growth of the regional market.
Based on source, the market is classified into wheat, barley, and others. Wheat segment led the global market in 2018 and accounted for a share of more than 64%. The segment is projected to remain dominant throughout the forecast years, as wheat is an easily and abundantly available source. Moreover, wheat is cheaper than other sources and provides a better base making it a premium ingredient. All these factors are estimated to drive the segment growth over the forecast period.
Barley is another ingredient, which is a highly nutritious substance and thus have high demand in malted milk market. The aqueous extracts of barley is called as ˜wort, which consists of vitamin B constituents, such as folic acid, Vitamin B6 (pyridoxine), thiamine, riboflavin, and biotin. It also contains essential minerals, such as potassium, zinc, calcium, and magnesium, as well as proteins, amino acids, and soluble fiber.
Type Insights of Malted Milk Market
Based on type, the market has been bifurcated into liquid and powder. The liquid segment is anticipated to hold the largest share in the market by 2025. Rising demand for sports drinks is likely to fuel the segment growth over the forecast years. The powder segment is estimated to register the fastest CAGR from 2021 to 2026.
Extensive usage of malted milk powders in biscuits, cookies, and other foods, due to growing demand for healthy snacks, will drive the segment. On the other hand, rising concerns about the added preservatives in milk powders may have a negative impact on the growth of this segment.
Regional Insights of Malted Milk Market
Asia Pacific is expected to be the largest, as well as the fastest-growing, regional market from 2021 to 2026. This growth can be attributed to the rising target population in countries, such as India, Japan, and China, and growing awareness about following a healthy lifestyle. In addition, product portfolio extension by key companies through innovations will have a positive impact on the regional market growth. For instance, GlaxoSmithKline has extended its Horlicks family brand through Horlicks for Women, Horlicks Lite for diabetes patients, and Junior Horlicks for children aged between 1 and 3 years.
Market Share Insights of Malted Milk Market
Manufacturers in the market have undertaken several marketing strategies, such as product innovation, M&A, and regional expansions, to gain a higher market share. For instance, Horlicks re-launched Mothers Horlicks for nursing and pregnant women and was widely marketed through TV commercials and in-store promotions. It had gained 10% off-trade sales for Horlicks in India.
Manufactures are also focusing on the product packaging to attract more consumers. For instance, in January 2019, Full Sail Brewing launched Malted Milkshake-Style IPA in an attractive packaging of 6 bottles, each of 12 ounces. Some of the key companies in the market are Nestle S.A., Horlicks, GlaxoSmithKline PLC, Briess Malt & Ingredients, Imperial Malts Ltd., SSP Pvt Ltd., Family Cereal Sdn. Bhd., Muntons PLC, Food & Biotech Engineers India Pvt. Ltd., and Insta Foods.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Malted Milk Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global malted milk market report on the basis of source, type, and region:
Source Outlook (Revenue, USD Billion, 2019 – 2030)
Type Outlook (Revenue, USD Billion, 2019 – 2030)
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