Asia Pacific 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 APAC Malt Extracts Market during 2019-2027

According to a new market research study on “APAC 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$272.26 million by 2027 from US$166.42 million in 2018; it is expected to grow at a CAGR of 5.7% from 2019 to 2027. The report provides trends prevailing in the APAC malt extracts market, and the drivers and restraints pertaining to the market growth. Increasing demand of malt extracts in the food and beverage industry is the major factor driving the growth of the market in APAC. Moreover, Asia-Pacific comprises of several developing countries, and due to the increase in the people’s income, the lifestyles are also changing constantly. Furthermore, the increasing middle-class population in the region and higher spending power of the customers has resulted in increased demand for high-quality malt extract based products. The demand for organic food and beverages is increasing in developed countries such as Australia, China, and Japan. Therefore, the demand for malt extracts by products is anticipated to gain popularity in Asian countries. Factors such as rising awareness of the health benefits of organic ingredients and new product launch by the key players in the market are leading to rising demand for organic products in Asian countries. 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. The COVID-19 is anticipated to cause a loss of more than 3 Billion in the APAC region. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of APAC is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the coronavirus (COVID-19) outbreak would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Till now, China has the highest number of COVID-19 confirmed cases.

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 APAC 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., and Liotecnica are among the leading companies in the APAC 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, Ireks Gmbh invested for the construction of a new brewhouse in Kulmbach. To be able to keep abreast of the constantly increasing demand for the aromatic natural products and to equip IREKS for the future, IREKS has invested a sum in the double figure million range in the new construction of a brewhouse which was commissioned this year.

The report segments the APAC Malt Extracts Market as follows:

APAC Malt Extracts Market - By Form

• Liquid
• Powder

APAC Malt Extracts Market - By Distribution Channel

• Organic
• Conventional

APAC Malt Extracts Market - By Application

• Food
• Beverages
• Pharmaceuticals
• Others

APAC Malt Extracts Market - By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

Reasons to Buy

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• Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the malt extracts market, as well as those hindering it
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