The North America Malted Milk Market would witness market growth of 4.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 536.9 hundred tonnes, showcasing a growth of 5% (2019-2022).
The production of malted milk involves the amalgamation of malted grain flour, whole milk powder, and additional components employed in the food and beverage industry as flavoring and fortification agents. It imparts culinary products with sweetness and a creamy mouthfeel. It is a common ingredient in coatings. Principally responsible for the increase in product demand is growing awareness of the importance of a healthy lifestyle. Additionally, manufacturers are emphasizing the use of natural ingredients, which contributes to product sales growth. The market will continue to expand due to rising product consumption as a dietary supplement and increased awareness of the numerous advantages of malted foods and beverages.
As a result of hectic lifestyles, accelerated urbanization, and industrialization, shifting food preferences, including a high demand for bite-sized snacks, will also positively affect market expansion. Furthermore, developments in bite-sized treats, including baked goods and cookies containing malted milk powder, are anticipated to increase demand. Increasing demand for flavored milk will also likely contribute to the expansion of the market. The market has positioned malted milk as a nutritious refreshment. The packaging frequently represents various nutrients, including lipids, carbohydrates, protein, vitamins A, B, C, and E, calcium, iron, phosphorus, and potassium. However, published literature on the topic of malted milk consumption is scarce.
The market has witnessed significant growth and transformation over the years, driven by a confluence of factors ranging from changing consumer preferences to advancements in food processing technologies. Malted milk, a product derived from the combination of malted barley, milk, and other ingredients, has a rich record and a versatile range of applications that extend beyond traditional beverage formulations.
According to the US Department of Agriculture, Mexico is the third largest food processor in the Americas and is in the top 15 worldwide. The Mexican food processing industry is one of the most engaged, with an average annual growth of 4.3 percent and a 2020 GDP contribution of $39.4 billion to Mexico's economy. Malted milk is finding its way into formulating diverse dairy-based products within the Mexican food processing industry. From flavored milk to yogurt, ice cream, and other dairy treats, malted milk creates innovative and appealing products for the Mexican consumer. Thus, the above aspects will expand the market growth across the region in the upcoming years.
The US market dominated the North America Malted Milk Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $669.7 Million by 2030. The Canada market is experiencing a CAGR of 7.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.2% during (2023 - 2030).
Free Valuable Insights: The Malted Milk Market is Predict to reach $2.8 Billion by 2030, at a CAGR of 5.5%
Based on Source, the market is segmented into Barley, Rye and Wheat. Based on Distribution Channel, the market is segmented into Business to Business, Supermarkets/Hypermarkets, Specialty Stores, and Online Sales Channels. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Source (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Distribution Channel (Volume, Hundred Tonnes, USD Billion, 2019-2030)
By Country (Volume, Hundred Tonnes, USD Billion, 2019-2030)
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