Malted Milk Food Market 2024-2033: Trends, Analysis & Growth Forecast

The malted milk food market size has grown strongly in recent years. It will grow from $6.46 billion in 2023 to $6.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to traditional use of malted milk in beverages and confectionery, nutritional benefits and high nutrient density of malted milk, consumer preference for healthier and natural ingredients, growth in the dairy and dairy-based products industry, application of malted milk in bakery and breakfast cereals, expansion of the food processing and beverage industries.

The malted milk food market size is expected to see strong growth in the next few years. It will grow to $9.38 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rising demand for fortified and functional foods, increased consumer awareness of nutritional benefits, expansion of the health and wellness market segment, growing preference for plant-based malted milk alternatives, emerging markets and changing consumer preferences. Major trends in the forecast period include malted milk in functional and sports nutrition products, flavored and specialty malted milk varieties, use of malted milk in ice creams and frozen desserts, incorporation of malted milk in baked goods and snacks, clean label and non-gmo claims for malted milk products.

Market Overview -
The malted milk food refer to products made by blending milk with the mash liquid which is produced by a mash of the barley malt and wheat flour. Malted milk food contains a high-quality nutritional value offering convenience, digestibility, and palatability. It is a beneficial supplement to enhance memory, immunity, and concentration.

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Flavored Milk's Rising Popularity Driving Growth In The Malted Milk Food Market
The rising demand for flavored milk is expected to significantly contributing to the growth of the malted milk food market in the forecast period. Flavored milk refers to a sweetened dairy drink made with milk, sugar, flavorings and food colorings. Flavored milk is consumed more as it offers more nutrition and less sugar than juices and sports drinks thus increasing intake of the dairy foods. The demand for flavored milk increases the demand for malted milk foods that are a source of rich nutrition and flavored with malt liquids. For instance, in November 2021, according to the Dairy Foods Magazine, a US-based online publication that covers various aspects of the dairy and dairy foods industry, flavored milk sales in dollars climbed 4.8% to $1,646,5 million, while sales in units increased 1.0% to $658.2 million. Therefore, the rising demand for flavored milk will contribute to the growth of the malted milk food market .

Competitive Landscape -
Major companies operating in the malted milk food market include Nestle SA, GlaxoSmithKline plc, Briess Malt & Ingredients Inc., Imperial Malts Ltd., SSP Pvt Ltd., Abbott Laboratories, Danone S.A., Mead Johnson Nutrition Company, Kraft Heinz Company, Hain Celestial Group Inc., Honest Company Inc., Nature's One Inc., HiPP GmbH & Co. Vertrieb KG, Ausnutria Dairy Corporation Ltd., Synutra International Inc., Beingmate Baby & Child Food Co. Ltd., Inner Mongolia Yili Industrial Group Company Limited, Feihe International Inc., Biostime International Holdings Limited, Wissun International Group Co. Ltd., Otsuka Holdings Co. Ltd., Morinaga Milk Industry Co. Ltd., Yakult Honsha Co. Ltd., FrieslandCampina NV, Meiji Holdings Co. Ltd., Arla Foods amba, Fonterra Co-operative Group Limited, Royal FrieslandCampina N.V., Hero Group, Bellamy's Organic Ltd.

Growing Popularity Of Natural Ingredients Is Driving Innovation In The Malted Milk Food Market
Manufacturers focusing on the development of natural ingredients in products is a key trend gaining popularity in the malted milk food market. Key players operating in the malted milk food market are focusing on incorporating natural ingredients in their products to offer better nutritional values and strengthen their position in the market. Natural ingredients are raw materials that are based on plant, animal, mineral, or microbial ingredients. These offer several health benefits while filling products with nutritional essentials. For instance, in February 2022, Nestle S.A. a Switzerland-based company that manufactures malted milk foods launched plant-based milo chocolate malt drink. This is a dairy-free and vegan version of the popular Milo brand, serves as an alternative to the traditional milo product which is designed for individuals who follow plant-based diets, are lactose intolerant, or simply prefer dairy-free options. The company think that this introduction would contribute to the growing trend of plant-based substitutes.

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Key Segments -
The malted milk food market covered in this report is segmented -
1) By Source: Wheat, Barley, Other Sources
2) By Product Type: Milk, Powder
3) By Packaging: Tins, Jars, Carton Packs, Other Packaging
4) By Distribution Channel: Hypermarket/Supermarket, Convenience Stores, Online Retailers, Other Distribution Channels

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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