The Latin America, Middle East and Africa Specialty Malt Market would witness market growth of 8.1% CAGR during the forecast period (2022-2028).
Since they contribute to the taste, texture, appearance, and flavours of beer and other beverages, specialty malts have a variety of uses. Rye malt, for instance, has a special quality as a multipurpose and natural dough conditioner, as well as a sweet and tangy flavour. It is mostly utilized in the bread sector since it allows for softer, more elastic dough, which results in a richer final product in terms of volume.
A rise in the demand for craft beer, an increase in the number of independent brewers, better R&D achievements for specialty malt, and specialty malt's diverse functionality are some of the factors driving the growth of the worldwide specialty malt market. The increased availability of distinctive and avant-garde domestically produced beers and whiskeys by quick service restaurants (QSRs), cafés, and hotels is having a beneficial effect on the demand for specialty malt.
In addition, the market is expanding as a result of the extensive product acceptance in the production of various baked goods. Specialty malts are used to improve flavour and colour in flavoured bread, biscuits, cookies, and sweets with malt infusion. Additionally, a number of product innovations, including the release of ready-to-drink (RTD) beverages and premixes based on malt, are promoting market expansion.
The trend of non-alcoholic malt beverages has been on the rise for a few years now. This propelled most contemporary malt beverages to have a strong potential for sales. These trends have gradually made their way in unconventional regions as well, like the Middle East and Africa. For instance, malt beverages are becoming more and more well-liked in Nigeria as thirst quenchers. For religious reasons, many people in the Middle East and Africa don't drink, although they enjoy the flavour of the aromatic beer. Therefore, the malt flavour is very well-liked in these areas.
The Brazil market dominated the LAMEA Specialty Malt Market by Country in 2021; thereby, achieving a market value of $92.4 million by 2028. The Argentina market is poised to witness a CAGR of 8.6% during (2022 - 2028). Additionally, The UAE market is exhibiting a CAGR of 6.6% during (2022 - 2028).
Based on Form, the market is segmented into Dry and Liquid. Based on Source, the market is segmented into Barley, Wheat, and Rye. Based on Application, the market is segmented into Alcoholic Beverages, Dairy & Frozen Products, Bakery & Confectionary, Non-Alcoholic Beverages, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Egypt, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Specialty Malt Market is Predict to reach $4.3 Billion by 2028, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GrainCorp Limited, The Soufflet Group, Muntons plc, Malteurop, Axereal, Briess Malt & Ingredients Co., Crisp Malt, Viking Malt Oy (Polttimo Oy), Rahr Corporation and Simpsons Malt Limited.
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