Albany, New York, December 22, 2016: A report added to Market Research Reports Search Engine (MRRSE) finds that the revenue generated by the global malt ingredients market in the bakery industry is slated to expand at a steady 6.6% CAGR from 2016 to 2024. The report is titled “Malt Ingredient Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024.” It states that the value of the market will rise from US$4.2 bn in 2015 to US$7.3 bn by 2024.
Growing Health Awareness Driving Demand for Malt Ingredients in Bakery Industry
The growing awareness among consumers about living a healthy lifestyle and consuming nutritious food products and ingredients has resulted in an evident shift in preference for organic and natural foods. This has, in turn, spurred the demand for malt ingredients in the bakery industry. The health benefits of malt are many and this has led to its increased uptake in various bakery items.
Another factor driving the usage of malt ingredients in the bakery industry is the rising implementation of stringent regulatory norms regarding food additives. Food manufacturers are now compelled to pay more attention to the amount or percentage of additives used and focus on the development of clean label products. Since this becomes a hassle for many producers, they either remove these additives entirely or switch to healthier alternatives such as malt ingredients.
The shortage of grains, however, threatens to impede the growth of the global malt ingredients market in the bakery industry, the report finds. In recent years, several malt grains producing regions have been hit by a poor harvest, which has led to the dearth of malt ingredients. In addition to this, malt grains find application in pharmaceutical industries and breweries, which results in a shortage of malt ingredients to be used in the bakery industry.
Asia Pacific Malt Ingredients Market to Surge Ahead at Rapid Pace
From a geographical point of view, the report segments the global malt ingredients market into Europe, North America, Latin America, the Middle East and Africa, and Asia Pacific. Currently, North America accounts for the leading share in the overall market by volume and value, with Europe following suit. North America is also projected to register a high CAGR of 7.1% from 2016 to 2024, the report predicts. Asia Pacific is slated to witness strong growth in the coming years, propelled by the increasing spending capacity of the consumers across developing economies.
The report also studies the global malt ingredients market based on source of malt, product type, application, and grade. By way of product type, the market comprises liquid malt, dry malt, and malt flour, among others. Based on source, the malt ingredient market is segmented into wheat, barley, and others. On the basis of application, the report covers the usage of malt ingredients in pizzas, doughnuts, cakes and pastries, cookies, brownies, biscuits, breads, and others. From the point of view of grade, the market is bifurcated into specialty and standard.
The global malt ingredients market is led by barley, malt flour, cookies, and standard ingredients in their various categories.
Browse Full Global Malt Ingredient Market Report with TOC:http://www.mrrse.com/malt-ingredient-market-for-bakery
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