Malted Milk Market Size, Share, Growth, And Industry Analysis by Type (Malted Milk Drinks, Malted Milk Powders, Other) by Downstream Industry (Lactating Women, Pregnant Women, Children, Others) and Regional Forecast to 2032

Updated On: 02 September 2024

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MALTED MILK MARKET REPORT OVERVIEW

The global malted milk market size was USD 4.78 billion in 2023. As per our research, the market is expected to reach USD 6.75 billion by 2032, exhibiting a CAGR of 3.51% during the forecast period 2024-2032.

The malted milk market has seen considerable growth due to increasing customer call for nutritious and handy drinks. Malted milk, a blend of malted barley, wheat flour, and complete milk, gives a wealthy source of nutrients, minerals, and antioxidants, attractive to health-aware customers. The market is pushed by means of the product's versatility, being used in diverse forms which includes drinks, powders, and as a component in confectioneries and bakery products. Innovations in flavor and packaging, in conjunction with advertising strategies emphasizing fitness benefits, have improved its enchantment. The growing fashion of at-domestic consumption and the developing reputation of malt-based totally liquids in emerging markets in addition raise the market. However, opposition from opportunity fitness liquids and capacity lactose intolerance problems pose challenges. Despite these, the malted milk market continues to extend, driven via its precise flavor and dietary price.

COVID-19 Impact: Pandemic Notably Hindered the Market Due to Disruptions in Supply Chains and Manufacturing Processes

The COVID-19 pandemic has been unprecedented and staggering, with malted milk market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic negatively impacted the malted milk market growth, normally because of disruptions in deliver chains and production processes. Lockdowns and restrictions led to factory closures and decreased production capacities, resulting in deliver shortages. Additionally, the pandemic triggered financial uncertainties and shifts in patron spending styles, with many prioritizing important goods over non-critical items like malted milk. The closure of hospitality sectors inclusive of cafes, restaurants, and resorts in addition decreased the demand for malted milk products typically used in these institutions. Moreover, logistical challenges and multiplied transportation prices affected the distribution of malted milk, main to delays and stockouts. The market additionally faced demanding situations in sourcing uncooked materials, exacerbating the production slowdowns. Although e-trade provided a few alleviations, the general market experienced a decline in sales and increase during the height of the pandemic, highlighting the vulnerability of the malted milk market to global crises.

LATEST TRENDS

"Growing Popularity of Plant-Based Malted Milk Alternatives Helps Market to Grow"

A latest trend in the malted milk market products is the shift to vegan products more specifically plant-based malted milk products. This transition is mostly influenced by the concern of individuals’ health and their environmental impact which makes people adopt plant-based diets. Due to this trend, there are new malted milk products produced from plant-based milk such as almond milk, soy milk, and oat milk. It targets the lactose intolerant, the vegan population, and people who wish to reduce their impact on the environment thus expanding the market. Manufacturers are focusing on studying and enhancing on the mouth feel and quality of such products in order pleasing their customers. This change follows the trends observed in the rest of the world in terms of health wise growth prospects for the malted milk market, hence it remains one of the sustainable avenues of growth.

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MALTED MILK MARKET SEGMENTATION

• By type

Depending on malted milk market given are types malted milk drinks, malted milk powders, other. 

Malted Milk Drinks: Malted milk drinks are premixed fluid foods manufactured from malted barley, wheat flour, and whole milk which are commonly consumed as nutritional and tasty foods. These are beverages of different flavors that get favored for their smooth texture and the nutritional value they hold.

Malted Milk Powders: Malted milk powders are dry blends aimed for preparation of the malted milk beverages by adding water or milk. They are ranged products and mainly used to bake, cook, or prepare beverages, which saves time and durable.

Other: Other malted milk merchandise includes gadgets like malted milk sweets, biscuits, and bars. These merchandises comprise malted milk's special flavor and dietary blessings into snacks and confections, attractive to a wide range of consumers looking for handy and engaging treats.

• By Downstream Industry

The market is divided into lactating women, pregnant women, children, others.

Lactating Women: The marketing of the product targeted at lactating women is pegged on the position that consumers need a product that will help in the production of breast milk and general improved body health. These products are developed to provide vitamins, minerals, and calories which are useful to a woman and fetus.

Pregnant Women: Therefore, the malted milk products for pregnant women contain the essence of the extra nutritional requirements in pregnancy. It contains foods that are rich sources of folic acid, iron, and calcium that are very essential for the health status of the woman and her fetus.

Children: For children it is widely popular to take malted milk products to improve overall growth and development as they have a nice taste. It is rich in vitamin and minerals that are essential in building the bones, providing energy, and improving the health of a child, hence the popularity of parents.

Others: The "others" category includes a numerous institution of clients, which includes athletes, the aged, and fitness-aware people. These products cater to numerous dietary needs and options, providing a handy source of nutrition and electricity.

DRIVING FACTORS

"Health and Wellness Trends Drives the Market "

The increasing emphasis on health and well-being is a sizable using thing in the malted milk market. Consumers are more aware about their nutritional consumption and are searching for meals and beverages that provide introduced fitness advantages. Malted milk, wealthy in nutrients, minerals, and antioxidants, appeals to fitness-conscious individuals looking for nutritious alternatives. This trend is especially sturdy among dad and mom seeking healthy merchandise for his or her youngsters and among individuals handling their diet for specific health reasons, which include boosting immunity or preserving bone health. The growing interest in functional foods that assist usual nicely-being keeps to force the call for malted milk merchandise.

"Convenience and Versatility Drives the Market "

Another using aspect in the malted milk market is the demand for handy and flexible meals products. In today’s speedy-paced lifestyle, customers pick smooth-to-prepare and equipped-to-consume options. Malted milk fits this requirement as it can be speedy made right into a drink, utilized in baking, or as an element in various recipes. Its lengthy shelf lifestyles and simplicity of storage upload to its attraction. Additionally, malted milk products are flexible, catering to one-of-a-kind age corporations and nutritional desires, from youngsters and pregnant ladies to athletes and the elderly, hence broadening their market attain

RESTRAINING FACTORS

"Rising Competition from Alternative Health Beverages Restrains the Market Growth"

One restraining factor in the malted milk market is the rising competition from opportunity fitness liquids. As patron alternatives evolve, there is a developing trend closer to plant-based, lactose-unfastened, and low-sugar drink alternatives. Products like almond milk, oat milk, soy milk, and diverse protein shakes are gaining popularity because of their perceived health benefits and suitability for unique dietary needs, which include vegan, lactose-intolerant, or diabetic clients. These alternatives frequently market themselves as healthier or more sustainable alternatives as compared to standard malted milk. This shift in purchaser choice provides a challenge for the malted milk market, requiring manufacturers to innovate and adapt their product offerings to stay competitive.

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MALTED MILK MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific to Dominate the Market Due to Its Large and Growing Population"

The Asia Pacific regional is poised to play a dominant function in the malted milk market share because of its massive and developing population, growing disposable earning, and rising fitness awareness. Countries like India, China, and Japan have a robust cultural preference for malted milk products, often fed on as part of everyday diets. Additionally, the expanding center elegance in those areas is driving demand for nutritious and handy food options. The robust growth of the retail region and the growing reputation of e-trade systems further improve market accessibility and product availability, solidifying Asia Pacific's leading role in the malted milk market.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

The malted milk market is ruled by using numerous key industry players recognized for his or her great product tiers and robust market presence. Major groups encompass Nestlé, recognized for its iconic logo Milo; GlaxoSmithKline, which produces Horlicks; and Mondelez International, the maker of Ovaltine. Other superb players include Abbott Nutrition, which gives specialized nutrients merchandise, and Meiji Holdings Co., Ltd., a big participant inside the Asian market. These agencies force the market through continuous product innovation, strategic marketing, and expanding their distribution networks to satisfy the developing global demand for malted milk merchandise.

List of Market Players Profiled

• Ovaltine (U.K.)
• GSK (U.K.)
• Nestlé (Switzerland)

INDUSTRIAL DEVELOPMENT

April 2020: An industrial development in the malted milk market is the recalling of the Horlicks re-launched Mother’s Horlicks for nursing and pregnant women and was often advertised through the TV commercials or through promotions within supermarkets or shops. For Horlicks in India, it had achieved 10% of the off-trade sales.

REPORT COVERAGE

The malted milk market is poised for constant boom, driven through growing patron attention of fitness and nutrients, comfort, and product versatility. The market advantages from a vast customer base, which includes kids, pregnant and lactating girls, and health-conscious individuals. Key enterprise players like Nestlé, GlaxoSmithKline, and Mondelez International are critical in driving innovation and increasing market attain via strategic advertising and marketing and numerous product offerings. However, the market faces demanding situations from growing opposition with alternative health drinks and the effect of worldwide disruptions, including the COVID-19 pandemic, on supply chains and client conduct. The Asia Pacific place is expected to dominate the market because of its big populace and increasing disposable earning. To hold and beautify market role, manufacturers have to attention on innovation, sustainability, and adapting to changing consumer alternatives. Overall, the malted milk market holds great potential for growth, provided it navigates these challenges effectively.