Malted Barley Flour Market- Opportunities, Risk, Challenges, Gross Margin
Malted Barley Flour Market: Introduction
A recent study published by Transparency Market Research on the malted barley flour market includes global industry analysis and opportunity assessment for 2019-2029. The global malted barley flour market is expected to be valued at ~US$ 4.7 Bn in 2019, which is projected to rise at a CAGR of ~9%, to reach ~US$ 11 Bn by 2029.
Rising Preference for Malted Barley Flour by Health-conscious Consumers to Boost Growth Opportunities
Malted barley flour is a rich source of vitamins, minerals, and fibers. Furthermore, malted barley is a rich in B vitamin, including niacin, thiamin, and pyridoxine (vitamin B6). It also contains beta-glucans, a type of fiber. Health conscious consumers prefer natural, sugar-free, fat-free, and nutritional products that aid them in weight management as well as provide energy. As malted barley flour meets these requirements, health conscious consumers are increasingly including malted barley flour products to their daily diets. Due to health benefits they offer, dieticians and doctors are recommending consumption of malted barley flour products to their patients. Moreover, use of malted barley flour in diet products helps to enhance their taste, flavor, and aroma.
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Soaring Demand from Bakery & Confectionery Industry to Propel Market Growth
According to a report published by World Bread and Bakery Products, the consumption of bread and bakery products increased from 122,000 tons in 2007 to 129,000 tons in 2016. Usage of malted barley flour is rising in bakery and confectionery products, as it is an important ingredient that helps to enhance texture, color, flavor, and aroma of various bakery and confectionery products. Malted barley flour is used commercially in breads, pizza crust, crackers, rolls, and pretzels as a dough conditioner due to its lower gluten content that causes the dough to be softer, more relaxed, and gives the final product a softer crumb texture. As a result of this, a range of products is available with differing flavor profiles, and color levels such as light, medium and dark flour, to meet the requirements of a more sophisticated industry and consumer. Moreover, products stay crumbly and fresh for longer, attributable to the addition of malted barley flour.
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Growth of Food Service Industry to Increase Application of Malted Barley Flour
Online food delivery services by restaurants have led to a surge in the growth of the foodservice market in the U.S. Restaurants and other food service providers have been actively engaging in digitalizing their operations. Furthermore, there has been a rise in the number of consumers who prefer to order food online and this number expected to grow in the foreseeable future. The home delivery system, mainly in the case of pizza, has been another major driver for the malted barley market. Use of online platforms to order food for delivery have been a successful concept, attributable to the ease of choosing food items and convenient payment procedure. Notably, in 2018, more than 70 million consumers in the U.S. ordered food online from restaurants. Quick service restaurants (QSRs) are fast food restaurants, set apart from full service or table restaurants by their limited menus, minimal table service and, as their name implies, fast service. QSRs are popular in the North America, Europe, and Oceania regions. Quick service restaurants include limited-service eating places, cafeterias, fast-food restaurants, beverage bars, ice cream parlors, pizza-delivery establishments, carryout sandwich shops, and carry out service shops with on-premises baking of donuts, cookies, and bagels. These QSRs use malted barley flour on a large scale. On the back of these factors, the demand for malted barley flour from the food service industry is expected to increase substantially.
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