Specialty Malts Market to Exhibit 6% CAGR through 2030; Slump in Craft Brewery Applications During Covid-19 Pandemic to Hurt Sales, says Fact.MR
*Specialty malt manufacturers are largely invested in widening the scope of applications for products to non-alcoholic health beverages and foods to create niche growth opportunities during the pandemic.*
*ROCKVILLE, MD / ACCESSWIRE / August 25, 2020 / *The specialty malts market is estimated to reflect a promising 6% CAGR through the period of forecasting between 2020 and 2030. The coronavirus pandemic is likely to have a disruptive influence on the market. This can be largely attributed to the strict lockdown regulations, restricting the sales of alcoholic beverages in multiple countries. Craft breweries in particular have been hit hard, hurting short term demand for specialty malts.
"Specialty malts are available in a wide range of flavors including chocolate, caramel, and coffee among others which bolsters adoption in the processed food and beverages industry. The multi-functionality of these ingredients are a key positive influencer on the basis of long-term growth prospects, " says the Fact.MR report.
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*Specialty Malts Market - Key Takeaways*
· Flavored bread and confectionary applications of specialty malts are witnessing high growth, with changes in consumer bias towards snacking and convenience snacks.
· Wheat and rye malt contribute notable to market revenue, driven by niche demand in the alcoholic beverage sector.
· Europe has displayed growth in recent times with the rise of the brewing sector in Russia, France, Italy, Switzerland, Belgium, and Germany.
*Specialty Malts Market - Driving Factors*
· Superior shelf life, and foam retention characteristics of specialty foams are driving demand in brewery applications.
· Sustained research into widening flavor profiles for specialty malts is a key factor boosting adoption.
*Specialty Malts Market - Constraints*
· Fluctuation in supplies owing to the unpredictability of yield arising from climate and weather problems.
· Strict government guidelines towards the use of specialty malt holds back market growth prospects.
*Anticipated Market Impact by Coronavirus Outbreak*
The coronavirus pandemic has had a negative impact on the specialty malts industry. Strict restrictions on the sales of alcoholic beverages, including activities in the craft breweries during lockdown has been a major challenge for manufacturers in the industry. With many small-scale businesses struggling for survival through the crisis, demand is likely to remain unpredictable in the long term as well. On the other hand, demand in health-foods and non-alcoholic beverages will generate niche short-term growth opportunities.
*Explore the global specialty malts market with 136 figures, 80 data tables, along with the table of contents of the report. You can also find detailed segmentation on *https://www.factmr.com/report/4817/specialty-malt-market
*Competition Landscape*
Major manufacturers in the specialty malts market include but are not limited to Barmalt India Pvt. Ltd., IREKS GmbH, Cooperative Agraria Agroindustrial, Malteurop, GrainCorp Ltd., Simpsons Malt Ltd., Cargill Inc., Groupe Soufflet, Axereal, and Viking Malt Oy.
Leading players in the specialty malts market are pushing for the expansion of product capacities with strategic industrial mergers and acquisitions in addition to expansion of product portfolios.
For instance, Westland has expanded its portfolio of specialty malts with a Munich and rye malt products for whiskey production in Seattle. Further, Axereal has announced the acquisition of Cargill Inc.'s malt division. GrainCorp Ltd. is listing its global malting business as a separate entity to pursue independent growth strategies.
*More on the Report*
The FACT.MR's market research report provides in-depth insights on specialty malts market. The market is scrutinized according to product type (caramelized malt and roasted malt), source (barley, wheat, rye, and others), extract (dry, liquid, and malt), and application (individual, promotional, and institutional) across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa).
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*About Fact.MR*
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the food and beverages industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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*SOURCE: *Fact.MR
View source version on accesswire.com:
https://www.accesswire.com/603234/Specialty-Malts-Market-to-Exhibit-6-CAGR-through-2030-Slump-in-Craft-Brewery-Applications-During-Covid-19-Pandemic-to-Hurt-Sales-says-FactMR