The malt extracts market in Europe is expected to reach US$ 496.94 million by 2027 from US$ 310.00 million in 2018; it is expected to grow at a CAGR of 5.5% from 2019 to 2027.
Growing demand for natural/organic extracts to create profitable opportunities for the manufacturers is bolstering the growth of the malt extracts market in the European region.Although there are a large number of players in the bakery industry offering traditional bakery products, only a limited player uses malt ingredients in the products they offer.
On the other hand, consumers across the world prefer food with natural ingredients due to the inherent health benefits.This is a key trend creating high potential opportunities for companies offering such products.
This is also creating opportunity for new domestic companies to enter the malt extract market to leverage increasing demand for sugar-free, gluten-free, high nutritional value, and clean label products from the bakery, brewery and food & beverage industries.Opportunities for market participants in the malt extract are on the rise owing to increasing demand for sugar substitutes.
Competitive pricing and numerous manufacturing benefits are also encouraging food manufacturers to opt for malt extract. Rise in alcohol consumption owing to lifestyle changes worldwide has also fueled the demand of malt extracts. The opportunities for malt extract in nutraceutical industry are astonishing due to fewer market players. Easy availability of raw materials and lower processing cost offers opportunities to new market players.
In terms of application, the beverages segment dominated the Europe malt extracts market.Malt extract is majorly used in the manufacturing of alcoholic beverages such as beer and whiskey.
It is used to add a distinct flavor to the product.Often, they are used in craft beers in small scale or home-based breweries to cut down on the process of costing and deliver a superior product.
Malt extract is rich in antioxidants, vitamins, minerals, and amino acids, and thus they are used as a base for non-alcoholic beverages such as malted milk and sports drink, non-alcoholic beers, and soft and energy drinks. Thus, the increasing demand for malt extracts in brewing industries, especially for the manufacturing of craft beer and its rising application in non-alcoholic beverages processing, is expected to contribute to the growth of the segment during the forecast period.
COVID-19 pandemic has affected industries and economies in various countries due to lockdowns, business shutdowns, and travel bans.In Europe, Italy is the worst-hit country due to COVID-19 outbreak.
The country is expected to suffer an economic hit due to a lack of revenue from various industries.Other member states have implemented drastic measures and travel restrictions, including partially closing their borders.
This is anticipated to negatively impact market growth in Europe.
The overall Europe malt extracts market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the Europe malt extracts market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe malt extracts market. Malteurop Group, Ireks Gmbh, Groupe Soufflet, Malt Products Corporation, United Malt Group, Muntons Plc, Boortmalt N.V., Holland Malt, and Liotecnica are among a few players operating in the Europe malt extracts market.
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