Malt beverage is a fermented drink primarily derived from the grain or seed of the barley plant. They are supplemented with vitamins, minerals, fiber, and protein for adding nutritional value and are largely preferred as a healthier alternative sweetener. It is mainly used for developing alcoholic beverages such as beer and whiskey. Further, owing to its refined taste and the wider availability of flavors resulted in increase need for malt beverages over other sweet drinks.
With growing purchasing power of the consumer and rapidly changing lifestyles of the millennial population, the global demand for alcoholic beverages has increased significantly in the last few years. This provides major growth to the market of malt beverages across the globe. Further, increasing beer consumption has led to malt being utilized more heavily by brewers for production. The growing popularity of craft beer and an increasing number of lounges, breweries, and bars are expected to drive the global malt beverage market. Further, the easy availability of flavored malted beverages in supermarket/hypermarkets, retail stores, and online stores is one of the contributing factors of the malt beverages market.
Moreover, malt beverages are considered a good energy source, owing to healthy nutrients present in malts such as protein, minerals, vitamins, starch, and trace elements. It is an ideal source of energy for mental and physical health. They are healthy and great-tasting alternatives for sweet and high-calorie soft drinks as well as for alcoholic drinks which will provide ample opportunities for the malt beverage market during the forecast period. However, fluctuation in the supply chain of raw materials may hamper the malt beverage market growth. In addition, fluctuating demand of consumers owing to seasonal variations limits the market growth.
The global malt beverages market is divided based on product type, application, and region. Based on the product type, the global market is split into beer, distilled spirits, wine, and others. The application segment can be bifurcated into offline and online.
Geographically, the European region is anticipated to dominate the global malt beverages market and is expected to continue its dominance during the forecast period. Factors such as an increase in consumer base and presence of leading manufacturers are propelling the growth of the market in this region. Asia Pacific region is estimated to be the second-largest region in the market and is predicted to account for a significant share over the forecast period. This is attributed to the growing number of consumers demanding organic beverages and cereals along with the rising demand for flavored drinks by the population.
Asahi Breweries Malt Beverages, Coors Brewing Company Malt Beverages, Suntory International Co, Bavaria Brewery Malt Beverages, Nestle SA, Fayrouz, Moussy, Anheuser-Busch Malt Beverages, Guinness Nigeria Malt Beverages, and Ceres Brewery Malt Beverages are some of the major players that are functioning in the global malt beverages market.
In April 2017, one of the leading beverage producers, Carlsberg had launched the premium malt-based beer in the Indian beverage market.