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The North America Specialty Malt Market would witness market growth of 4.6% CAGR during the forecast period (2022-2028).
Malt is a crucial ingredient in baking formulations because it possesses qualities that help with dough conditioning, and it is being utilized more frequently in place of less natural or more expensive ingredients like synthetic dough conditioners. Malt and malt extracts are also acceptable substitutes for natural color modification in baked goods and culinary dishes since they demonstrate their color potency when diluted in a solvent.
According to Malt Products Corporation, barley extract is a healthy natural functional ingredient that contains a lot of enzymes, a lot of vital amino acids, minerals (calcium, phosphorous, and magnesium), vitamins, and dietary fiber. Malt's high hordenine content has been shown to enhance cognitive function and weight management.
Brewers are constantly searching for new flavors to entice consumers and give their beers more depth. Specialty malts are created from barley that has undergone a lengthier or hotter roasting process than regular malt. This roasting procedure changes the flavor and color of the malt, which can be used to make distinctive beer styles. The demand for specialty malts has surged as a result of the popularity of craft beer.
The North American region is a major consumer of bakery products and alcoholic products. The recent developments in the non-alcoholic beverages' quality and varieties have given a boost to the use of specialty malt in this region. Many varieties have malt and specialty malt extracts have originated in this region. The United States of America has produced many varieties of specialty malt to cater to the different tastes of Americans.
The US market dominated the North America Specialty Malt Market by Country in 2021; thereby, achieving a market value of $896.3 million by 2028. The Canada market is experiencing a CAGR of 7% during (2022 - 2028). Additionally, The Mexico market is exhibiting a CAGR of 6.1% during (2022 - 2028).
Based on Form, the market is segmented into Dry and Liquid. Based on Source, the market is segmented into Barley, Wheat, and Rye. Based on Application, the market is segmented into Alcoholic Beverages, Dairy & Frozen Products, Bakery & Confectionary, Non-Alcoholic Beverages, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Specialty Malt Market is Predict to reach $4.3 Billion by 2028, at a CAGR of 5.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include GrainCorp Limited, The Soufflet Group, Muntons plc, Malteurop, Axereal, Briess Malt & Ingredients Co., Crisp Malt, Viking Malt Oy (Polttimo Oy), Rahr Corporation and Simpsons Malt Limited.
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