Europe Malt Extracts Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Form, Nature, and Application Food, Beverages, Pharmaceuticals, and Others

Beverages Segment to Dominate Europe Malt Extracts Market during 2019-2027

According to a new market research study on “Europe Malt Extracts Market Forecast to 2027 - COVID-19 Impact and Analysis - by Form (Liquid and Powder), Nature (Organic and Conventional), and Application (Food, Beverages, Pharmaceuticals, and Others)” the market is expected to reach US$496.94 million by 2027 from US$310.00 million in 2018; it is expected to grow at a CAGR of 5.5% from 2019 to 2027. The report provides trends prevailing in the Europe malt extracts market, and the drivers and restraints pertaining to the market growth. Surging adoption of malt extracts in the food and beverage industry is the major factor driving the growth of the market in Europe. Moreover, the rate of exchange of the currency is high in the European countries, inviting businesses to invest more and gain the maximum out of it. More funding and investments are followed in the region leading to favorable conditions for the establishment of new food processing units. Fewer entry barriers for businesses to run their business have also favored the business growth in this continent. Besides, due to favorable economic stability, an opening of a new food chain in European countries is a feasible option for the food-related companies to cater to new users. However, seasonal variations and quality of barley hinder its growth. Moreover, the COVID-19 pandemic has affected industries and economies in various countries due to lockdowns, business shutdowns, and travel bans. In Europe, Italy is the hardest-hit country by the coronavirus outbreak. It is expected to suffer an economic hit due to a lack of revenue from various industries, as Italy recorded the highest number of coronavirus cases. Other member states have implemented drastic measures and travel restrictions, including partially closing their borders. This is anticipated to impact market growth in Europe.

The market for malt extracts is segmented into form, nature, and application. Based on form, the market is segmented into liquid and powder. In 2018, The Europe malt extracts market was dominated by the liquid segment. Based on nature, the malt extracts market is divided into organic and conventional. Organic segment is expected to be the fastest growing segment over the forecast period. Based on application, the malt extracts market is segmented into food, beverages, pharmaceuticals, and others. The beverages segment held the largest share in 2018 and it is projected to continue its dominance over the forecast period.

Malteurop Group, Ireks Gmbh, Groupe Soufflet, Malt Products Corporation, United Malt Group, Muntons Plc, Boortmalt N.V., Holland Malt, and Liotecnica are among the leading companies in the Europe malt extracts market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, in Bulgaria, where Soufflet Agro collects malting barley with local farmers, Groupe Soufflet has started building a new malting plant. Located in Pleven, to the north of the country, this plant, which will have a capacity of 50,000 tonnes, will replace the country’s two outdated malting plant.

The report segments the Europe Malt Extracts Market as follows:

Europe Malt Extracts Market - By Form

• Liquid
• Powder

Europe Malt Extracts Market - By Distribution Channel

• Organic
• Conventional

Europe Malt Extracts Market - By Application

• Food
• Beverages
• Pharmaceuticals
• Others

Europe Malt Extracts Market - By Country

• UK
• Germany
• France
• Italy
• Russia
• Rest of Europe

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