Malt extracts are produced after the germination of cereal grains, such as barley and wheat, which undergo the malting process to enhance their nutritional properties. As product transparency is the new megatrend, individuals are now attracted to organic products. And as malt extract is a nutritious natural sweeter, it is gaining preference among both individuals and manufacturers across regions. The increasing demand for malt extracts from the food and beverage industry, especially the alcoholic segment, is expected to bolster the growth of the malt extracts market during the forecast period. However, the fluctuating raw material prices are anticipated to hamper the market growth to an extent in the upcoming years.
Impact of COVID-19: Food & Beverage Industry
The COVID-19 Impact has significantly impacted the food and beverage industry. Currently, companies engaged in the industry are tackling hurdles such as the sharp decline in consumption from the demand-side. In addition, restrictions imposed by governments have not only disrupted the supply chain of raw materials but also led to a downfall in production capacities.
Out-of-home businesses have been the worst hit during the lockdown as most of the cafes, restaurants, craft breweries, bars, and hotels are shut. Sale across out-of-home channels has taken a dive, and now manufacturers in the industry are focusing on reshaping their business models by rerouting their business channels and tying up with e-commerce players to increase customer engagement. Unlike the out-of-home channels, the at-home sales channels are observing an upsurge in sales, as costumers are stocking up consumer goods for isolation and quarantine. It can also be foreseen that once the lockdown is lifted, the market will undergo a change in consumer sentiments, which, as of now, are less inclined toward out-of-home business channels.
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Malt Extracts Market: Key Players
Malt Extracts Market: Segmentation
Central and South America and the Caribbean
The Middle East
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