Specialty Malt Market By Type (Crystal, Roasted, Dark, Others), By Form (Dry Form, Liquid Form), By Source (Barley, Wheat, Rye, Others)By Flavor (Aromatic, Coffee, Smoked, Others), By Application (Brewing, Distilling, Baking, Others), Global Analysis to 2023

Specialty Malt Market Size and Forecast

According to the new report titled " Specialty Malt Market By Type (Crystal, Roasted, Dark, Others), By Form (Dry Form, Liquid Form), By Source (Barley, Wheat, Rye, Others)By Flavor (Aromatic, Coffee, Smoked, Others), By Application (Brewing, Distilling, Baking, Others), Global Analysis to 2023",

The valuation of the  Specialty Malt market was $3.12 Billion in 2023 and is projected to reach $82.1 Billion by 2032, at a CAGR of 6.31% from 2021 to 2032.

The Specialty Malt Market was valued at $3.12 Billion by 2023 and expected to grow at CAGR of 6.31% over forecast period.  Specialty malt refers to a category of malted grains that are produced for specific flavor, color, or other unique characteristics desired by brewers and distillers. Unlike base malts, which serve as the primary source of fermentable sugars in beer or spirits production, specialty malts are used in smaller quantities and contribute distinct qualities to the final product.

There is a wide variety of specialty malts available to brewers and distillers, each with its own unique characteristics. Examples include caramel/crystal malts, chocolate malt, black malt, roasted barley, Munich malt, Vienna malt, wheat malt, and more. The growth of the craft beer industry has significantly increased the demand for specialty malt. Craft brewers often seek unique and flavorful ingredients to differentiate their products in a competitive market. Specialty malts provide brewers with a wide range of options to create distinctive beer styles and flavor profiles. Consumers are increasingly interested in diverse and innovative beer offerings. They seek out beers with complex flavors, unique characteristics, and interesting ingredients, which often include specialty malts. As consumer tastes evolve, the demand for specialty malt continues to grow.

Crystal held the largest share in the Specialty Malt market

By Type (Crystal, Roasted, Dark, Others) where Crystal plays a crucial role in the Specialty Malt market. Crystal malt is known for its ability to impart rich caramel and toffee flavors, as well as contribute to the beer's color. Brewers often use crystal malt to add sweetness, complexity, and depth to their beers, enhancing overall flavor profiles. The booming craft beer market has significantly increased the demand for specialty ingredients like crystal malt. Craft brewers, who prioritize creativity and innovation, frequently use crystal malt to differentiate their products and appeal to consumers seeking unique and artisanal beer offerings. Modern beer consumers are increasingly interested in exploring different beer styles and flavors. Beers made with crystal malt often exhibit complex and distinctive taste profiles, which align with consumer preferences for flavorful and adventurous beverages. As with other specialty malts, the demand for crystal malt is influenced by its quality and consistency.

Breweries and distilleries rely on suppliers to provide crystal malt that meets their specific flavor, color, and performance requirements, ensuring the desired characteristics in the finished product. Overall, the demand for crystal malt is driven by its ability to enhance flavor and color in beer and spirits, its versatility across different brewing and distilling applications, the growth of the craft beer market, evolving consumer preferences, and the need for high-quality and consistent ingredients in beverage production.

Asia Pacific headed the Specialty Malt market in 2023

The Asia Pacific region has seen a burgeoning interest in craft beer over the past decade, mirroring trends seen in North America and Europe. As consumers become more interested in unique and flavorful beers, the demand for specialty malts, including crystal malt, has increased. Craft brewers in countries like Japan, South Korea, Australia, and China are using specialty malts to produce a diverse range of beer styles to cater to this growing market. Rapid economic growth in many countries across the Asia Pacific region has led to an increase in disposable income levels. As a result, consumers are willing to spend more on premium and artisanal products, including craft beer and specialty malt-based beverages. This has further fueled the demand for specialty malt among both consumers and producers. The Asia Pacific region has witnessed a significant increase in the number of breweries and microbreweries in recent years.

These smaller-scale breweries often focus on producing artisanal and experimental beers, which frequently utilize specialty malts to achieve unique flavor profiles. This proliferation of breweries has consequently boosted the demand for specialty malt in the region.
Key market players operating in the market that are profiled in the report are Viking Malt, Agraria, Simpsons Malt, GrainCorp, Anheuser-Busch InBev, Barmalt, Milwaukee, WI, Imperial Malts Ltd., Bar Malt India Pvt. Ltd. etc

Report Scope

Global Specialty Malt MarketSegmentation Analysis

The Global Specialty Malt Market is Segmented Based on Type, Application, Source, Form, and Geography.

Specialty Malt Market, By Type

• Roasted
• Crystal
• Caramelized
• Dark
• Smoked
• Honey

Based on Type, the market is segmented into Roasted, Crystal, Caramelized, Dark, Smoked, and Honey. Crystal malt holds the highest market share within the specialty malt market. This dominance is attributed to its ability to impart both sweetness and a range of caramel flavors, while also enhancing the color of the final product, making it a versatile choice for brewers.

Specialty Malt Market, By Application

• Brewing
• Bakery
• Confectionery

Based on Application, the market is bifurcated into Brewing, Bakery, and Confectionery. Brewing holds the highest market share, driven by the surging popularity of craft beers, where specialty malts are crucial for achieving unique flavors, colors, and textures.

Specialty Malt Market, By Source

• Barley
• Wheat
• Rye
• Oats
• Spelt
• Einkorn

Based on the Source, the market is classified into Barley, Wheat, Rye, Oats, Spelt, and Einkorn. Barley holds the dominant market share in the specialty malt market. This is attributed to its versatility in producing a wide range of flavors and characteristics, making it highly preferred by brewers and food producers.

Specialty Malt Market, By Form

• Dry
• Liquid

Based on Form, the market is segmented into Dry and Liquid. The dry form segment holds the largest market share, attributed to its extended shelf life and cost-effectiveness compared to the liquid form. Dry malt extract requires minimal processing and storage, making it a more economical choice for both producers and consumers.

Specialty Malt Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the World

Based on Geography, the Specialty Malt Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest market share is currently held by North America. This dominance is attributed to the well-established craft beer industry in the region, where specialty malts are widely used to create unique flavor profiles in beers.

• Keyplayers

• Soufflet Group

• GrainCorp Ltd.

• Viking Malt

• Cargill

• Inc.

• IREKS GmbH

• Bar Malt India Pvt. Ltd.

• Simpsons

• Axereal Group

• and Malteurop Group.

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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