The global specialty malt market size is expected to gain momentum during the forecast period. This information is published by Fortune Business Insights in its upcoming report, titled, “Specialty Malt Market, 2021-2028.” Factors such as the improved standard of living and the growing demand for beverages in the growing urban areas is expected to bode well for the product’s demand in the forthcoming years.
The effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in resumption of industrial activities.
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Based on type, the market is bifurcated into roasted malt, caramelized malt. On the basis of source, the market is divided into barley, wheat, and others. Moreover, based on application, the market is categorized into brewing, distilling, malted beverages, and others. Finally, on the basis of region, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa.
What does the Report Include?
The global market for specialty malt report includes in-depth analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Increasing Consumption of to Aid Growth
According to statistica, in 2020, the revenue generated by the sale of was believed to be a staggering USD 222,098 million in 2020. The increasing consumption of is due to several factors. These include rapid-paced urbanization, rising western influence in Asian countries, and the improved living of standard amongst people globally. Therefore, the growing demand for specialty beers has led to the introduction of innovative craft beers by manufacturers worldwide. These factors are expected to bode well for the global specialty malt market growth in the forthcoming years.
Europe – The region is expected to hold considerable global specialty malt market share in the forthcoming years. This is attributable to the increasing number of craft breweries in the region.
Asia-Pacific – The market in the region is anticipated to experience substantial growth backed by the large availability of raw materials for the production of specialty malt in countries such as India, China, and Australia.
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Major Companies Invest in R&D Activities to Strengthen Their Market Positions
The global market for specialty malt is consolidated by major companies that are striving to maintain their presence. They are doing so by investing in expanding their facilities to cater to the growing demand for malt-based beverages from consumers worldwide. Additionally, other players are adopting organic and inorganic strategies to maintain a stronghold that will contribute to the growth of the market during the forecast period.
November 2020 – Viking Malt Group announced its strategic investment to build a new malting facility in Lahiti. The investment will expand the production capacity of the facility by 85,000 tons annually and is expected to be operational by 2023.
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