Thebrewing ingredients marketwas valued at USD 34.5 billion in 2021 and is projected to reach USD 47.9 billion by 2026, expanding at a growth rate of 6.8% during the forecast period. The market is segmented into source, brewery size, and form. By source, the market has been segmented into malt extract, adjuncts/grains, hops, beer yeast, and beer additives. The malt extract segment is projected to dominate the source segment due to increased demand for natural ingredients and was estimated at USD 17.6 billion in 2021. It is projected to reach USD 24.9 billion in 2026. The adjuncts/grains segment is projected to grow at the CAGR of 6.8% due to the increase in consumption of beers.
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The key players in this market include Cargill, Incorporated (US), Angel Yeast Co. Ltd. (China), Boortmalt (Belgium), Malteurop Groupe (France), Rahr Corporation (US), Lallemand Inc. (Canada), Viking Malt (Sweden), Lesaffre (France), Maltexco S.A. (Chile), and Simpsons Malt (UK), among others.
Major players in the market are mainly focusing on rapid investments in developing economies to grab a greater number of customers in the coming years. Further, the companies are also focusing on a strategic partnership with the beer manufacturers to ensure the continuous workflow of inventories.
The core strength of the key players identified in this market is their growth strategies, such as new product launches, certifications, and expansions, among others. Undertaking new product launches and expansions has enabled market players to enhance their presence in the brewing ingredients market.Some of the key strategies followed by the leaders are mentioned below:
Cargill, Incorporatedis one of the globally leading companies involved in the production of food ingredients. The company offers products for different markets such as agriculture, animal nutrition, beauty, bio-industrial, carbon solutions, food service, food beverage, industrial, pharmaceutical, meat poultry, transportation, and risk management. Based on application, the company has segmented its products under the food beverage category into bakery, bev-alcoholic, beverages, confectionery, convenience foods, dairy, fruits vegetables, infant baby food, meat fish, snacks cereals, and others. The company actively operates in more than 70 countries and exports its products to customers in more than 125 countries. It is identified as a star player in the global brewing ingredients market, according to MnM analysis.
Angel Yeast Co. Ltd.is a leading producer of yeast. The company specializes in the production of yeast and yeast derivatives. It has segregated its product offerings into yeast baking, yeast extract-savory, nutrition health, and biotechnology. The biotechnology segment is further divided into distilled spirits biofuels, microbial nutrition, and enzymes. The firm offers yeast through five brands: Angel, Eagle, Bakerdream, Gloripan, and Fubon. It has 10 international advanced production bases in China, Egypt, and Russia. The company is identified as a star player in the global brewing ingredients market, according to MnM analysis.
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Boortmaltis a world leader in the production of top-quality barley malt. The company offers different malts under its five brands: Pauls malt, minch malt, les maltiers, belgomalt, and badass barley malt. The firm is present in 5 continents with 27 malting plants located in Spain, Ethiopia, the US, Canada, Argentina, Australia, the UK, France, Germany, and Hungary, among others. It supplies malt to producers of beer and whisky across the globe. The company is identified as a star player in the global brewing ingredients market, according to MnM analysis.
The Asia Pacific market is projected to grow at the highest CAGR during forecast period. The high growth rate is supported by various factors such as growing urbanization, increasing disposable income and increasing population in countries such as India and China.
