Press Release: Global Specialty Malt Market 2021
Food processing is a growing industry in these countries. The consumption of specialty malts is expected to increasing in this food processing industry as well. The emerging economy markets present an excellent opportunity for specialty malts producers.
Many Asian countries have changed from their cultural viewpoint and consuming a low or non-alcoholic beverage in social gatherings is not seen as a wrong thing in last few years. The average age of population in these countries is lesser than the globe and this young population is influenced by socializing style of Europe and North America. This has paved way to increasing beer consumption and specially the craft beer consumption.
Key players are increasing their share in the market by anticipating future demand and innovating. They are adopting the strategy of mergers and acquisition to enter the arena which was not touched before.
Malt may be refined further to produce Malt Extracts, which are liquid or dried sweeteners. Standard Malt Extracts, Specialty and Black Malt Extracts, and Coextracts of Malt and Other Cereal Grains are among the different types of malt extracts.
Cargill Inc. is one of the biggest manufacturers and suppliers of food, agricultural, financial and industrial products globally. Other key players are Viking malt oy, Muntons, Maltexco, Ireks gmbh, Malteurop, Simpson’s malt, Groupe souflet, Baramalt Malting India Pvt. Ltd., and many more.
Explore 251 market data Tables spread through nearly 155 Pages and in-depth analysis on “Global Specialty Malt Market by Type (Roasted, Caramelized), Sources (Barley, Wheat, Rye), Application (Alcoholic Beverages, Non-Alcoholic Beverages, Bakery Confectionary, Dairy Frozen Desserts), Extract (Dry, Liquid) and by Region, Global Trends and Forecast from 2019 to 2026 ” for Table of Content – https://exactitudeconsultancy.com/reports/833/specialty-malts-market/
In 2020, many countries faced strict lockdowns due to COVID-19 pandemic. These lockdowns have resulted into partial or complete shutdown of manufacturing facilities. Shutdown of manufacturing facilities had major impact on consumption in many sectors. The lockdown in many countries have led to negative impact on hospitality industry as travel is stalled for last year. This has resulted in decreasing socializing even among youths.
This specifically impacted the craft beer market as the visits to micro-breweries stalled completely. This has even impacted the emerging markets like India as the country faced much wider and stricter lockdowns. The demand side decline owing to covid restrictions are also coupled with supply side disturbances. Many international travels, supplies were stopped and impacted the production of food products, beverages and so on. Hence it is not only a demand slump crisis but supply side is also impacted in similar way.
