North America is projected to have a rapid growth rate in the malt vinegar market, owing to the rising demand for packaged meat and on-the-go products. Malt vinegar is a popular ingredient that many people worldwide are exploring for the use of tendering and adding flavor to meat and poultry. The unique flavor of malt vinegar is attracting various professional chefs and people, which is further boosting the market growth. Rising consumer income and the fast-paced life of people is a key driver for the demand for processed meat.
The malt vinegar is found in various colors, ranging from light to dark brown, and can be used as a natural coloring agent in the white meats like chicken, turkey, and pork. Also, it is widely employed to make meat glazes or drizzles. Sometimes vinegar is used as a sauce that is used to top and prepare meat. For instance, Sambal is an upcoming Indonesian inspired hot sauce, including vinegar. The rapidly growing demand for meat and fish in the U.S. is anticipated to stimulate market growth in the coming years.
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Impact of COVID-19
The COVID-19 outbreak has adversely affected the global economy, leading to disruptions in the global supply chain, due to the strict government norms of social distancing and severe lockdowns imposed worldwide. Lower demand from the consumers is further expected to hamper the demand for malt vinegar. Globally, social distancing norms have negatively affected the global hospitality sector. This has significantly reduced the demand for malt vinegar across the globe, thus limiting the market revenue.
Currently, in the unlocking phase, as the restaurants are gradually coming into operations, they are operating in lower capacities due to the social distancing norm. Lower operating capacity means reduced demand for food ingredients. Restaurant chains are witnessing the shutting down of about 20–30% branches, further hampering the market growth.
Malt Vinegar Market: Segmentation
By Distribution Channel
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